Housing prices have fallen in Finland, and while many potential sellers fear losses from selling their homes, experts suggest it's still a good time to sell and buy.
In Finland, housing prices have seen a decline, causing many homeowners to hesitate about selling their homes due to fears of incurring losses. According to Yle, this has led to a slowing of real estate transactions, as those considering selling their homes choose to delay the process. Experts like economist Juho Keskinen from Hypo emphasize that potential sellers should look beyond the sale price of their old home and focus on the net difference ('väliraha') involved in the transaction.
Keskinen explains that while the value of their own homes may have decreased, the prices of other properties have also fallen, potentially making the costs associated with trading homes lower than in past years. This means that the net difference could be more favorable for those looking to upgrade or sell their properties. Yle notes that for example, the average price of small apartments (one-room) has decreased by 23,000 euros over the last few years across Finland, indicating a notable shift in the market dynamics.
Overall, the current housing market presents opportunities for first-time buyers and those looking to change homes, despite the apprehensions tied to selling at a loss. Consumers may find that by focusing on the overall financial balance, they can take advantage of the lower market prices, leading to a potentially advantageous situation for both buyers and sellers in the long run.
