Report: "Historic" Change in rental expenses in Helsinki

Report: "Historic" Change in rental expenses in Helsinki

The Helsinki region has seen "historic" changes in rental costs according to a recent market report by Statistics Finland.

The figures show that rents for non-subsidized housing fell by 0.3 per cent in the Greater Helsinki area and by 0.2 per cent in the city of Helsinki in the first quarter of 2022 compared with the corresponding period of the previous year.

This means that rental costs in the Helsinki Metropolitan Area have fallen for the fourth consecutive quarter, according to Statistics Finland.

"There has been no decline in the rental costs of non-subsidized housing in the Helsinki Metropolitan Area in recent years, so the decline is historic in the sense that" by Martti Korhonensenior statistician at the Central Information Office.

In Turku and Tampere, rental costs are rising

He added that the supply of rental housing has grown exponentially, which has also led to lower costs. The reasons for the increased supply are the increase in distance learning, the decrease in international students and the provision of Airbnb housing as long-term rent due to the general decline in tourism.

In addition, new apartment buildings are still being built in the Helsinki metropolitan area, Korhonen added.

Compared to the first quarter of 2021, non-subsidized rental prices rose the most in Turku and Tampere, where costs rose by more than one percentage point.

Source: The Nordic Page

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