Il "Property Market Trends", autunno 2007, di Catella Finland

 20 settembre 2007

Catella Finland ha diffuso il 20 settembre l' untimo Rapporto dedicato al mercato della Finlandia. Ecco la sintesi:
Despite uncertainty in the international investment market the Finnish economy will develop well this year and next. GDP growth continues strong compared to other European countries and exports, employment and private consumption has developed well. The rise of interest levels has impacted the financing of more risky projects to some degree, but the banking sector still looks at good real estate investments positively.
The transaction volume will surely reach last year’s record volume of EUR 5.5 billion. The number of deals has risen from last year and domestic and foreign demand has increased especially in growth centres and smaller objects. The share of international investments in the market was a record 67% at the beginning of the year. The share of portfolio transactions was over half of the transaction volume.
Office construction in the Helsinki Metropolitan Area is active and between January and August the amount of new office space completed was 77,000 m2. The office vacancy rate rose a bit to 8.4 % or approx. 52,000 m2. End users continue to seek new objects and the vacancy rate is concentrated mainly in old premises stock. The vacancy rate will remain at this level due to the active construction.
The decline in yields has allowed for the possibility for competitive rental pricing in new projects. Yields are not predicted to decline further. At the same time, a bottleneck in construction has appeared, employment costs have risen and the cost of raw materials has increased. This has led to a rise in rental levels in the premises and housing sector.
The commercial premises markets in growth centres are very stable. New construction, especially retail premises, is presently active in many locations. Good regional economic development will continue to support a strong development of the real estate markets.