Source: Business Insider
Pretty conservative, when you know the overall difference between the region in Finland ( i.e price are inflated more in some region than others e.g. Helsinki Region/Uusimaa) and all the financial mortgage tricks that have been used to distort the real price (rented land, housing company debt, and of course massive sensitivity to short term rates etc...).
22% I'd rather say that it is the first target and is the minimal for a normal readjustment. I will add another 10-20% to have a more realistic level... the target is still to come back to 2003 levels (as it is happening in the US, basically when the global synchronized housing bubble started). In fact, it can overshoot to reach the 1998 level (but this is more a long term target e.g. the Japanese style)
My prediction (c) HousingFinland based on the current situation ... the dice is rolling ...
