The situation is worse than during the crisis of the 1990s.
In the picturesque capital district of Kruunuvuorensanta, Finnish developers have built a new apartment building with sea views from its windows.
However, buyers are not rushing to acquire prestigious housing in the new development by Skanska: out of 78 apartments, 44 still remain without owners, reports the Finnish portal Yle.
Skanska's Sales and Marketing Director, Marja Kuosma, acknowledges the disappointing state of affairs, attributing it to the economic situation and overall uncertainty. The number of unsold new apartments on the balance sheets of construction companies has decreased, but it remains significant. At the beginning of last spring, there were about 4,000, and by early August, around 3,500. Currently, about 2,500 new apartments are available on the market.
By many indicators, the decline in housing construction in this economic cycle has been worse than during the recession of the 1990s. However, the company does not promise to increase sales through large discounts.
Previously, discounts on new apartments could reach tens of thousands of euros, plus additional bonuses. The reluctance to lower prices is likely explained by the fact that, according to the real estate association, the secondary housing market has begun to revive. In the capital region, realtors note that sales volumes have significantly exceeded last year's figures.
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