Apartments | A new phenomenon in Helsinki's “affordable” apartments: They don't sell

Helsinki There is a new phenomenon in slow construction, which is meant for affordable housing: Apartments that were previously equated to winning the lottery are not selling.

In the past, the situation of slow targets has been completely different. The apartments have gone like hot stones, that's why they have been sold through a lottery.

Jätkäsaari Asunto Oy in the Ahdinlaitur area of ​​Helsinki, about half of the apartments have remained for free sale.

A couple of years ago, only individual apartments were left for free sale.

In November, it was reported that the problems in the housing market have led to the fact that even Hitas properties are sold at discounted prices.

“The housing market is still quiet, even at a slow pace”, says the head of the sales and marketing unit of the Helsinki city housing production unit Ulla-Mari Nieminen.

Slow objects are price-regulated and can be accessed through a lottery system. Those looking for apartments can register for the lottery for several apartments.

A list is made for each apartment. If the first buyer candidate in the lottery does not want to redeem the apartment for himself, the next person in line gets the opportunity to purchase a new home.

In Jätkäsaari, the draw was held before Christmas. There were about 280 potential buyers in total. Now, about half of the more than 200 apartments are left for free sale.

According to Nieminen, it would have been more surprising in the current market situation if all the apartments had gone immediately.

The background is, among other things, rising interest rates, inflation and a slowdown in the housing market. The apartment sale may not have been current if the previous home has not been sold.

Demand has weakened, which is reflected in the number of applications, among other things. Also, no takers have been immediately found for vacant properties.

Price regulated apartments are basically clearly cheaper than market-priced apartments.

For example, the asking prices for new apartments on the same street are at a clearly higher level in terms of square meters than in the slow-moving area.

For example, a 69.5-square-meter triangle in Saunali is traded in the neighborhood for 8,500 per square meter, while the price per square meter of a 72.5-square-meter slow-moving triangl
e in Saunali is 5,186 euros.

Square prices are calculated from debt-free prices. Both are located on the fifth floor, and the apartments are on a leased plot. The amounts of treatment allowances are of the same order of magnitude.

The price comparison is only indicative, as many different factors affect apartment prices. However, it is not just a single example, but also other examples of clear differences in fishing prices can be found in the same corners.

Jätkäsaari According to Nieminen, the case of the slow object describes the current market situation very well.

He says that the situation of Helsinki Ahdinlaitur will certainly be affected by the fact that it is a large object. There are more than 200 apartments. The apartment corporation consists of three apartment buildings with 5–15 floors. Some of the apartments may have a sea view.

Construction work has started and the apartments are not due to be completed until a couple of years from now, so there is plenty of time left to sell.

Nieminen believes that the apartments will sell well.

“There are no changes to the prices.”

Housing market precipitation has also brought a few unpleasant individual cases.

If you can't sell your previous low-income apartment before moving to a new low-income apartment, so in some situations the lottery win has turned into a contractual penalty.

According to the rules, one person cannot have several hitas apartments. A few people have had to pay two percent of the debt-free sales price as a contract penalty last year due to ownership restrictions on slow-moving people, Nieminen says.