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After the record year of last year, the joy of the Finnish real estate market continues, show Datscha real estate service statistics.
And the foreign interest is always strong.
2016 and 2017 were record years for the commercial real estate market in Finland.
Ten months after 2018, the strong activity continues. Until October, real estate transactions were concluded for an amount of 7.5 billion euros, the equivalent of SEK 77 billion in Finland, an increase of 3% compared to the previous year. the same period of the previous year.
"Finland has more reason to celebrate than 100 years of independence There is a big deal in the real estate market that shows no sign of tarnishing.On the contrary, we find that volumes remain high," says Kristina Andersson , chief analyst at Datscha Real Estate.
The reason for the strength of the real estate market is the Finnish economy, according to Kristina Andersson.
With growth of 2.8%, 2018 will be the third consecutive year of growth, according to the IMF's International Monetary Fund. According to several experts, Finland's GDP will reach the highest levels before the financial crisis by 2018. At the same time, unemployment has reached the lowest levels since 2011, according to the IMF.
"After ten years of stagnation, the Finnish economy is recovering and growth has even surpassed Sweden at certain times," said Kristina Andersson.
Foreign capital is still standing for a high proportion of the volume of transactions. Last year, foreign buyers totaled 70%, up from 29% in 2016. Up to this year, foreign investors accounted for 57%.
"Still low interest rates in the euro area are creating strong capital flows to fast-growing countries, which has made Finland a hot market. Attractive yields and reduced competition compared to the Swedish market, for example, also create good conditions for increasing foreign investment, "said Kristina Andersson.
Office buildings dominate the transaction market by 32%, followed by commercial and residential buildings by 25% and 16%, according to Datscha.
According to Datscha, Storhelsingfors, ie the cities of Helsinki, Vantaa and Espoo, accounts for 54% of the volume of transactions of the year.
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