Friday, 10 October 2008

Housing Sales ... Nose Dive

"Finnish builders' weekly Rakennuslehti on Thursday quoted a survey as indicating that the sales of new houses and flats, excluding the capital region, had plummeted by about 30 per cent since May.

According to the study carried out by STH group, the number of unsold new houses and flats has risen by about a quarter since the spring."


Andrew said...

As far as i can see new flat and house sales are closer to 10-30% rather than down 30%. More or less nothing is selling and almost no marked price reductions have been made. I kind of admire their tenacity.

And if we are supposed to be worrying so that the authorities create the Worldo or the Eartho its beginning to work on me. No doubt they will offer the grateful populace a totally crap conversion rate.

Rui said...

Outside captial area, the new apartment sales is as bad as 94 recession time.

I bet the price will drop 20-30% in the next two years.

Rui said...

The rent are still very high. In Aurinkolahti, the place I live. 49 m2 apartment is rented out for 930 Euro month and this is very common. I think the housing price will drop maybe 20% in next year, but not more.