A small property company in Helsinki recently sought bids for the repair of a false foundation and bathroom renovation. The estimates received from various renovation firms varied dramatically, ranging from 75,000 euros to nearly 200,000 euros. This considerable difference raised eyebrows and was described as extraordinary by Anssi Väätäinen, an expert from the Finnish Property Association.

Väätäinen pointed to a practice known as 'overbooking' in the construction industry as a potential explanation for this disparity in pricing. In this scenario, construction companies fill their schedules at standard market rates before then submitting exorbitantly high bids for additional projects as a tactic to see if any prospective clients will accept the steep prices. If a client accepts such a proposal, the firms may then proceed with the more expensive work, potentially even performing it on weekends. On the other hand, if they cannot secure the job at the inflated price, the companies might fabricate a reason to cancel previously arranged jobs to pursue better-paying opportunities instead.

This situation highlights the challenges consumers face in navigating the renovation market in Finland, where a lack of transparency in pricing can lead to confusion and mistrust. The findings suggest that property owners must be vigilant in assessing bids and may benefit from seeking multiple opinions to avoid falling victim to such price fishing practices that are increasingly affecting the industry.