Helsinki apartments worth several million euros are selling at an accelerating pace, according to Finnish brokers.
The trend is clearly upward Marina SaleniusChairman of the board of Kiinteistövälytysliito (KVKL) and CEO of Huoneistokeskus.
In 2018, 13 apartments worth over two million euros were sold in the capital.
Since then, the number has risen steadily, and in 2021, 29 such apartments were sold. So far, the trend seems to be continuing this year.
The information comes from the price monitoring service maintained by KVKL, which collects transaction data from the largest brokers.
Salenius said that most of the properties sold were in old apartment buildings in the sea areas. Sales of waterfront properties, i.e. properties with direct access to the water, were low.
"Although the sauna is important to Finns, most did not have a sauna or a balcony," Salenius said.
Buyers are younger than before
The number of young buyers buying multi-million euro apartments is increasing.
Sebastian Rostedtthe development director of the real estate agency Westhouse, said that he had seen the change himself.
Rostedt said buyers can now be as young as 35, whereas 13 years ago most were around 45 to 50.
Bo real estate agent co-owner and broker Matias von Schantz also said he saw a similar change.
"When you compare the situation with five or ten years ago, you can see it. The buyers are much younger and more successful, or they sold their businesses at a younger age," von Shantz said.
In addition, von Schantz pointed out that there are buyers who have built an international career from an early age and return to Helsinki in search of a luxury property.
"30- and 40-year-olds, but also younger. There are also many families with children. There is a lot of so-called new money on the market," von Schantz said.
Valuable apartments are also sold privately without putting them on the market, according to brokers.
Von Schantz said about half of the properties he manages are not publicly available for sale because not all clients want it.
On the online marketplace Oikotie.fi, almost 50 apartments worth over two million euros were listed for sale in Helsinki in the second week of August. The most expensive of the listed apartments costs more than nine million euros.
The number of apartments worth more than one million euros exceeded 170.
Source: The Nordic Page