• By The Financial District

BRISK SALES OF FINNISH SUMMER COTTAGES PUSH PRICE UP BY 20%

The summer cottage trade in Finland has remained brisk during the first part of this year, according to the National Land Survey of Finland. As reported by the Finnish new service, Yle, the number of transactions rose nearly 50 percent in the January-April period compared to the start of last year.

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"The growth of the cottage trade during the winter is something of a minor miracle. It confirms real estate agents' reports of strong demand because the growth in the number of completed transactions is huge," said Taisto Toppinen, Head of Registers at the National Land Survey of Finland.


With foreign leisure travel on hold, strong demand for domestic second homes has naturally also pushed up prices. According to the National Land Survey, the average price of cabins has risen by more than 20 percent since the beginning of last year.


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"According to my information, there aren't enough cabins on the market to meet demand. Anyone who's been thinking about putting a cottage up for sale should do so now," advises Toppinen, who adds that "this hot market situation will not continue for years."


In the January-April period, almost 250 shoreline cottages were sold in the 10 most popular holiday-home municipalities, which is more than 50 percent more than during the same period of last year, when the pandemic was taking hold in Finland.



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