The apartment based on web searches by searchers, Kallio is no longer as popular a place to live as it used to be.
The district in the eastern city center of Helsinki, known for its bars, cafés and relaxed atmosphere, has fallen from seventh to 11th place in the list of eleven most sought-after residential areas in two years.
The biggest climber in the top ten is Eira in southern Helsinki, which has climbed from thirteenth to ninth place.
The information is based on data from the Oikotie online service, which publishes home sales announcements, which HS received from Oikotie. Individual users cannot be identified from the data.
The data includes data on housing searches conducted by people in August – September 2019, ie before the coronavirus pandemic and at a similar time this year.
Thus, the starting point for the listing is not the actual housing transactions, and the applied areas do not necessarily follow the official definitions of districts.
Interest However, the rock has not completely disappeared, although the residential area has lost its popularity.
Even in Kallio, the number of searches has actually increased in two years, but only by 11 percent. At the same time, searches in many other areas have grown more.
In the entire Helsinki metropolitan area, searches have increased by about 42 percent in two years, which explains the fall of Kallio.
The same phenomenon can be seen in other areas of the eastern core city, such as Alppiharju, Hakaniemi, Hermann and Vallila. The popularity of all of these has declined compared to other areas.
In Harju, which is part of Alppiharju, for example, the change is significant: searches for it have decreased by 20 per cent in two years.
“Prices have fallen out of control and sales times have lengthened.”
Otherwise, the top set of popular residential areas has remained virtually the same. There have been only small changes. For example, Tapiola has risen from third to second, while Töölö has fallen from second to third.
Similarly, Kamppi, Kruununhaka and Meilahti have improved their ranking by one step. Lauttasaari still holds the first place. Punavuori, Munkkiniemi and Ullanlinna are as popular residential areas as two years ago.
Eastern the decline in the popularity of the inner city does not surprise the real estate agents interviewed by HS.
Underlying this is a shift in the needs of home changers and the focus of home investors: people are starting to look for themselves and investors to rent even bigger homes with a better supply outside the eastern downtown area.
“During the Corona period, the search criteria have shifted from two to triangles. This is clearly visible in Kallio, Hermann, Vallila, Alppiharju and Hakaniemi, where there are many small apartments, ”says the Business Director of the Apartment Center. Marina Salenius.
CEO of Real Estate World Risto Kyhälä according to the price-earnings ratio is now slightly better in the triangle than in the twin and better in the twin than in the studio.
“There is a real demand in Kallio, but the Kallio boom has clearly eased.”
Bo LKV Sales Director Virpi Romu says that in Kallio and the eastern downtown area, interest has also been dampened by overheated price levels.
“Prices have fallen out of control and sales times have lengthened.”
Brokers according to the housing supply in the Kallio region is considerably more abundant than even in the early summer, for example, but this has not been reflected in prices and apartments are no longer circulating as fast as before.
To the growing popularity of Eira, the brokers interviewed by HS did not come up with any direct explanatory factor. The supply of the area is limited and no new properties will be built there.
“It wouldn’t have come to my mind first. However, it is logical that Eira has always been one of the most prestigious areas. The news is also conducive to attracting interest from certain areas: people look at what is on sale there, ”says Kyhälä.
Right on the border with Eira, the construction company Skanska is currently building a new residential area in Telakkaranta, and homes are planned for 7,500 residents in nearby Hernesaari.
Otherwise, the results obtained by HS from the shortcut data are, in the view of the brokers, quite expected and largely reflect what is happening in the market.
“Espoo has never been more attractive to investors than it is now.”
If looks at popular areas more broadly, in the top 100 list the biggest gainers can be found in Helsinki and Espoo. These are, for example, Metsälä, Kruunuvuorenranta, Espoonlahti, Iirislahti and Sompasaari.
Each of these has improved its ranking by at least 20 steps. Why is the popularity of these areas?
According to brokers, there can be several reasons. On a general level, renovation projects and extension construction will increase the interest of home seekers and raise the price level in the area.
Another factor is the improvement of services and transport connections. Third is the appreciation of balconies, terraces, courtyards and extra space, which began last year with the exception period brought by the coronavirus.
There are a lot of detached houses, construction or developing transport connections and services in these areas. Many of the properties connect, for example, Kruununvuorenranta and Espoonlahti.
Next year in Espoo traffic to start the western subway extension and A new shopping center will be completed in Espoonlahti. Kruunuvuorenranta is coming Crown Bridges Tramway, although it can be expected for several more years.
“Espoo has never been more attractive to investors than it is now. Traffic conditions have improved considerably and the building stock has been modernized, ”says Kyhälä.
Marina Salenius of the apartment center thinks that Metsälä’s desirability may have been increased by the new Postipuisto residential area rising next to it.
“In addition, there are types of housing that have been sought during the Korona period.”
Bo LKV’s Virpi Romu sees the same reasons. However, according to him, the demand for yards is already normalized.
Balcony has been by far the most coveted apartment property in the Helsinki metropolitan area over the past year, according to a report by real estate company Blok. 36 per cent of customers who have placed a purchase order want a balcony.
The second most, 20 percent of customers, are looking for a sauna. For example, only 12 percent need a parking space.
Top 100 list Among the biggest skiers are such detached house areas in Helsinki as Puistola, Tapaninvainio and Länsi- and Itä-Pakila, but also, for example, Martinlaakso in Vantaa and Laaksolahti in Espoo.
Marina Salenius estimates that migration has leveled off in many of these areas. However, he wonders about the fall of Martinlaakso.
“A lot has been built there recently, and there are new blocks in the design. It may have been left behind in other growing areas of Vantaa, even though the transport connections and services are very good. ”
Risto Kyhälä explains the decrease in interest in the renovation needs of the building stock.
Access to credit poses its own challenges. Virpi Romu says that small semi-detached and terraced house companies have difficulty obtaining a bank loan for renovations, even in Helsinki, when shareholders have to take personal financing for extensive renovations.
Helsinki’s Hermanninranta (now 292) and Kotkavuori (384) and Espoo’s Soukanlahti (333) have improved the most, ie about a hundred steps in the entire list.
According to Salenius, the expansion of housing applications to Hermanninranta is the result of intense new construction in Kalasatama, Sompasaari and Verkkosaari.
On the other hand, Kylmäoja in Vantaa (now 409) and Niittymäki in Espoo (469) and Eestinkallio (419) have lost about 80–90 steps in their investment.
Let’s get back finally to Lauttasaari on the border of Helsinki and Espoo. What is the secret of attraction in a residential area called the “Happy Island”?
“Cycling distance from the center and exceptional nature in the marine environment,” Kyhälä says.
He also mentions the diverse architecture and believes that Lauttasaari will remain a favorite in searches for a long time to come.
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