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Rents continue to rise nationwide

The rents of non-subsidised flats rose by some 2.6 percent nationwide last year, which is marginally less than in 2015. Landlords say that new housing construction has raised rents in most regions, but in some parts of the country rents have gone down.

Avainnippu vuokrasopimuksen päällä.
The keys to happiness? Image: Kaisu Jansson / Yle

The construction of new housing has raised average rents per square metre nationwide, but there are still regional variations in rent levels, according to the Finnish Landlords Association (FLA).

The rents of non-subsidised apartments went up by 2.6 percent across the country – an almost imperceptible slowdown from the previous year's 3.6 percent rise.

Capital region rents went up 3.4 percent, while Espoo saw the highest rise at an average of 3.9 percent. Of Finland's larger cities, Oulu saw the smallest hike of 1.8 percent, near to Jyväskylä's 1.9 percent. In Tampere, Turku and Kuopio rents rose by an average of 2 percent.

FLA: "Investing is long-term saving"

Two thirds of Finnish non-subsidised rental flats are owned by private investors. The FLA says that most owners approach their real estate as a long-term savings plan.

"Owning flats is a demanding business with little payoff," says association director Mia Koro-Kanerva. "On the other hand, if you think in terms of the rate of real estate appreciation, past years were better for profit-making. It looks like that potential is less likely to pay off in future."

Landlords, Koro-Kanerva says, are not after big dividends, but rather see apartment ownership as a form of long-term saving.

Her association says that the supply of new apartments has gained ground in large, growing cities.

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