After last year's record year, the joy of the Finnish real estate market continues, according to data from Datscha Real Estate.
And foreign interest is still very strong.
Both 2016 and 2017 are the record years for the commercial real estate market in Finland.
Ten months until 2018, a major activity continues. By October, real estate transactions ended up by 7.5 billion euros, which is 77 billion Swedish kronor in Finland, an increase of 3 percent compared to the same period last year.
"Finland has several reasons to celebrate 100 years of independence," said Kristina Andersson, chief analyst at Datscha Real Estate, at the real estate market. "We are seeing big volumes going on," says Kristina Andersson, a senior analyst at Datscha Real Estate.
Reason for a strong real estate market is the economy of Finland, says Kristina Andersson.
With a 2.8 percent growth, 2018 will be the third year in a row with an increase, according to the International Monetary Fund of the IMF. By 2018, according to expert estimates, the Finnish branch of GDP reached the highest levels before the financial crisis. At the same time, according to IMF data, unemployment has reached the lowest level since 2011.
"The Finnish economy is rising after ten years of stagnation and growth has even surpassed Sweden over certain periods," says Kristina Andersson.
Foreign capital is still standing for a high percentage of transaction volume. Last year, foreign buyers accounted for 70%, compared to 29% in 2016. So far this year foreign investors accounted for 57%.
"The still low interest rate in the eurozone creates large capital flows in the countries with good growth, which was done by Finland's warm market. Increased market activity, an attractive level of return and less competition compared to the Swedish market, for example, create good conditions for increasing investment from abroad, "says Kristina Andersson.
Business properties in the transaction market exceed 32%, followed by commercial and residential buildings of 25% and 16%, says Datsch.
According to Datsch, Storhelsingfors, or cities of Helsinki, Vantaa and Espoo, account for 54% of the annual volume of transactions.