Housing market is cooling down in Helsinki region
Fewer people at showings, longer selling-times in April and May
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According to the Finnish estate agencies, the number of prospective buyers coming to see flats and houses in the capital area has declined. Furthermore, the current selling times are a couple of weeks longer than previously. Prices are stabilising, and another sign of the faltering housing business is that the number of "for sale" advertisements has increased.
As recently as last winter, almost all homes in the Greater Helsinki region could be sold without difficulties, whereas currently some of them are very difficult to dispose of. On the other hand, a large number of clients are visiting the internet sites of the agencies.
While the increase in prices has calmed down, buyers have become more alert. Purchase offers are now often considerably lower than the prices quoted by sellers.
However, while the supply clearly exceeds the demand, there is apparently no reason to expect any great collapse in prices. According to Nordea Bank, the loan markets have not slowed down yet, because there are a great number of clients who need financing for their own housing projects.
Helsingin Sanomat
