Despite the fact that interest rates on housing loans in Finland have decreased, and prices on the secondary market have apparently begun to rise, Finns are still hesitant to invest in new buildings, Helsingin Sanomat reports.
The most popular basic mortgage rate last week fell to the lowest in more than two years and amounted to about 2.4%.
At the same time, Statistics Finland has published preliminary data according to which in October 2024, prices for second homes increased by 0.4% year-on-year, which, if the figures are correct, is the first year-on-year increase since September 2022.
New buildings currently account for only a tenth of real estate sales in the metropolitan area. Previously, such transactions accounted for a third of the total volume.
There are thousands of vacant new apartments and houses in the capital region alone. Leading developers are increasingly ready to enter into negotiations on price and other conditions in order to stimulate sales. However, companies are not ready to give big discounts, up to 30-40%, which buyers dream of.
Source: Helsinki Times
