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Finnish Bankruptcies Hit 26-Year High With Builders the Most Hurt

Finnish Bankruptcies Hit 26-Year High With Builders the Most Hurt
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Drop in new house prices sharper than statistics suggest, economist tells HS

Juhana Brotherus, the chief economist at the Federation of Finnish Enterprises, estimates that the prices of new flats in housing companies fell by much more than official statistics suggest between January and March.

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Entrepreneurship poll: Companies outlook dampened, many report declining profitability

A recent survey conducted by the Finnish Federation of Entrepreneurs, called the Yrittäjägallup, has revealed that many Finnish businesses have reported a weakening in profitability. The study, which took place between April 18th and April 28th, surveyed 1,041 small and medium-sized business representatives across Finland. According to the results, expectations for the economic development of businesses over the next year have weakened since March.

Juhana brotherusChief economistEnergy crisis

HS: House markets have slowed down sharply in Tampere, Turku

In Tampere, the sales of new homes decreased by 55 per cent from the previous year in 2022. In Turku, meanwhile, the mean marketing time for homes lengthened by over 50 per cent year-on-year to 80 days in January 2023.

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New signs emerge of slowdown in Finnish property market

Statistics Finland on Wednesday said 29 per cent fewer old dwellings were sold in October 2022 than in October 2021. The Bank of Finland, in turn, reported that the drawdowns of new housing loans hit an almost 20-year low low of 1.3 billion euros for the month of October.

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