Despite earlier forecasts predicting an impending housing shortage, Finland is currently facing an oversupply of apartments. For example, in Helsinki's Jätkäsaari neighborhood, half of the units in a unique building developed by Skanska remain unsold, highlighting the disconnect between demand and supply. This trend of high construction with low uptake raises questions about future housing markets as economic factors such as inflation and interest rates have slowed down new developments.

The prevailing concerns about a potential housing shortfall were fueled by a steady influx of new residents into cities like Tampere and Helsinki, which was thought to necessitate increased housing supply. Marja Kuosma, Sales and Marketing Director at Skanska Kodin, previously warned of possible imbalances and a potential housing shortage. However, she acknowledges the easing of the situation has been slow, indicating that the market's current issues are rooted in low demand rather than an excess of available apartments.

With construction projects typically involving lengthy timelines, rapid shifts in demand could lead to mismatches if the market turns. Nevertheless, the current indicators suggest that while there may have been a panic about future shortages, the reality is a market that is grappling with an overabundance of apartments waiting for buyers. Stakeholders will need to carefully monitor trends to avoid future disparities in housing supply and demand.