The average price of a 2-room apartment in old apartment buildings in the Helsinki metropolitan area rose 8 percent in the first 6 months of 2018, according to Huoneistokeskus’s Housing Market Review. However, during the same period sales of such apartments fell by 5 percent. According to managing director Ari-Matti Purhonen there are two potential explanations for the phenomenon. “This can indicate that the price of two-room apartments has reached a point where demand falls or else there is simply not enough supply.” However, the average time it takes to sell such apartments rose 5 percent, suggesting that a dip in demand is the more likely explanation. The volume of sales of other old apartments and houses in the Helsinki metropolitan area also dropped 3 percent from last year.
