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Real estate brokers: Sales of €1m-plus homes have increased

Multimillion-euro homes are increasingly being purchased by buyers as young as 35, according to a local real estate agent.

On the online marketplace Oikotie.fi, nearly 50 homes worth over two million euros were listed for sale in Helsinki during the second week of August. Image: Silja Viitala / Yle

Helsinki homes worth several million euros are selling at an increasing rate, according to brokers in Finland.

There is clearly an upward trend, according to Marina Salenius, chair of the board of the Federation of Real Estate Agency (KVKL) and managing director of the real estate agency Huoneistokeskus.

In 2018, 13 homes worth more than two million euros were sold in the capital.

Since then, the number has steadily risen, with 29 such homes sold in 2021. So far, the trend seems to be continuing this year.

The data comes from the price monitoring service maintained by KVKL, which collects transaction data from the largest brokerages.

Salenius said that most of the properties sold were in old apartment buildings in maritime districts. Sales of waterfront properties, meaning properties with direct access to water, were few and far between.

"Although the sauna is important to Finns, most of them did not have a sauna or balcony," Salenius said.

Buyers younger than before

The number of young buyers purchasing multimillion-euro homes is on the rise.

Sebastian Rostedt, head of development at real estate agency Westhouse, said he has witnessed the change himself.

Rostedt said that buyers now may be as young as 35, compared with 13 years ago when most were aged around 45-50.

The majority of people buying apartments in Helsinki are Finns, according to Sebastian Rostedt. Image: Matti Myller / Yle

Bo real estate agency co-owner and broker Matias von Schantz also said he has witnessed a similar shift.

"When you compare the situation to five or ten years ago, you can see it. The buyers are much younger and more successful, or they have sold their businesses at a younger age," von Shantz said.

Additionally, von Schantz noted there are buyers who have built an international career from a young age and are returning to Helsinki for a luxury property.

"People in their 30s and 40s, but also younger. There are also a lot of families with children. A lot of so-called new money is on the market," von Schantz said.

The majority of high-value apartments in Helsinki are located in maritime districts. Image: Matti Myller / Yle

High-value homes are also being sold privately without being placed on the market, according to brokers.

Von Schantz said that around half of the properties he manages are not put up for public sale, since not all clients want that.

On the online marketplace Oikotie.fi, nearly 50 homes worth over two million euros were listed for sale in Helsinki during the second week of August. Among the homes listed, the most expensive one costs over nine million euros.

The number of homes listed for sale worth more than a million euros exceeded 170.