| According to the statistics of KTI, some 152,000 sqm of new office space were under construction at the end of June in the Helsinki metropolitan area (Helsinki, Espoo and Vantaa). The volume decreased by almost 25% during Q2 from 200,000 sqm at the end of March. In the retail property market, approx. 182,000 sqm of new space were under construction in the Helsinki metropolitan area (205,000 sqm at the end of Q1). During H1/2019, more than 70,000 sqm of new office space and over 50,000 sqm of new retail space were completed. Construction volumes are expected to slow down significantly when the ongoing projects will be completed, since the construction permits and starts for both office and retail properties have decreased in the Helsinki region.Outside the Helsinki metropolitan area, the office construction volumes are highest in the Tampere and Kuopio regions, where some 33,000 sqm and 26,000 sqm of new office space were under construction at the end of June, respectively. Retail property construction volumes remain low in all major cities outside the Helsinki metropolitan area. |
| The activity in the Finnish property investment market remains high, although property transaction volume has decreased from last year. According to the preliminary statistics of KTI, transaction volume for the second quarter of 2019 amounted to at least EUR 1.8 bn, and in total, the H1/2019 volume exceeded €3 bn. In 2018 and 2017, H1 transaction volumes amounted to €4.0 bn and €2.6 bn, respectively. Office properties have been the most traded property type in 2019, accounting for some 30% of the total volume, followed by retail properties and residential portfolios. The share of foreign investors has amounted to almost 50% of the total volume. The figures are still preliminary.Source : KTI |
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