POHJOLA BK'A' 
By 2011 marked a new record year for OP-Kiinteistökeskus real estate agents, which recorded a total of around 17,200 home and real property sales, or some 200 transactions more than in 2010.
- Although Finnish consumers and home buyers have been bombarded with bad economic news since last summer and their future confidence have been put to the test, property and home sales have remained relatively buoyant, says Kenneth Sandberg, Vice President, Estate Agent Services of OP-Pohjola.
Mr Sandberg states that the reasons for the lively market include historically low borrowing costs, stabilised price development, steady employment, spending power that has remained relatively steady, and the fact that home and real property sales and purchases are based on a real need.
Only minor changes in the lenght of selling times
The market has remained active in the Helsinki Metropolitan Area and growth poles, but for OP-Kiinteistökeskus real estate agents, no regions or towns differ in their market activity level in any special way. Sales also remained relatively steady throughout the year.
- For OP-Kiinteistökeskus real estate agents, the time that it takes to sell a flat remained at the same level throughout the autumn, or an average of 66 days. In comparison with the average time reported for the second quarter, the time frame has lengthened only by four days. The time did not lengthen over autumn 2010 either, says Sandberg.
- Only the most expensive homes and real properties have actually seen longer selling periods, their time frame lengthening by up to 20 days compared with that in early summer 2011, averaging some 110 days.
Sales expected to remain at the current level
Sandberg predicts that the home and property market will remain relatively lively. Despite the European sovereign debt crisis, the same favourable environment is expected to exist for home and property sales in Finland as in autumn 2011. The next six months are not expected to see any major changes in prices either.
- The only weak point in an otherwise buoyant housing market may relate to a deteriorating employment picture, which depends on exports and the related success in Finnish manufacturing.
For more information, please contact:
Kenneth Sandberg, Vice President, Estate Agent Services, tel. 010 252 4635
OP-Pohjola Group is Finland's leading financial services group providing a unique range of banking, investment and insurance services. The Group has the mission of promoting the sustainable prosperity, well-being and security of its owner-members, customers and operating regions through its local presence. Its objective is to offer the best and most versatile package of loyal customer benefits on the market. OP-Pohjola Group consists of some 200 Group member banks and the Group's central institution OP-Pohjola Group Central Cooperative with its subsidiaries and closely related companies, the largest of which is the listed company Pohjola Bank plc.
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Source: Pohjola Pankki Oyj via Thomson Reuters ONE
