Monday, June 23, 2025

Polaris of Enlightenment

Real estate prices in Helsinki favor purchasers amid high demand

Published 10 November 2024
– By Ivana Bratovanova
Helsinki, Finland's capital.
3 minute read

The Helsinki metropolitan area real estate market has experienced significant price changes in recent years. With a significant increase in demand for real estate in both the rental and purchase markets, prices still seem to be in favor of renters and buyers.

Ella Bruneau, a prospective buyer in the area, shares her experience with The Nordic Times.

As of 2023, the average price per square meter for older apartments and rowhouses in Helsinki stands at €5,278 – double the property value since the early 2000s. These vary widely by neighborhood where Central Helsinki, Price Zone 1, is known for high property values due to limited land for development and sustained demand. Properties in this zone have shown the highest price index growth, while prices in Zones 2, 3, and 4 have seen a slower but steady increase.

Distribution of housing price areas across Helsinki. Helsinki 1 represents the most expensive central areas, Helsinki 2 includes high-cost areas surrounding the center, Helsinki 3 covers moderately priced zones, and Helsinki 4 includes the most affordable outskirts. Illustration: The Urban Research and Statistics Unit at the Executive Office of Helsinki

Ella Bruneau, a Finnish resident actively searching for both rental and purchase options, shared her experience. She noted that the market is currently favorable for buyers.

– It’s definitely a buyer’s economy right now, she explains. I can buy a place for €150,000 and potentially sell it for €170,000 in a few years.

In less central areas like Espoo, with good public transport connections to Helsinki, profitability seems assured.

There is a significant number of rental options available in Helsinki which provide more flexibility in terms of the contract period rather than tying a prospective tenant to a set time frame.

– Finding a temporary rental was not that challenging, Ella said.

She ultimately found a rental through a Facebook group for short-term rentals, a common approach among Finns in the same situation. Websites like Oikotie.fi are also popular resources for apartment hunting.

As a prospective buyer, Ella focuses on various factors when choosing a property, including renovation history and neighborhood. She prefers properties without upcoming renovations, which may have  additional costs. She advises people in a similar situation to research the financial stability of the housing co-ops, especially when buying in areas where property prices may be lower but could involve higher financial risks.

Securing a loan is a crucial step for many first-time buyers. Ella experienced a smooth process for her application, which began online and involved a follow-up call within a couple of weeks.

– The bank asked detailed questions and offered a loan based on my realistic ability to make monthly mortgage payments, she explained.

For Ella, family support also plays a role – with a savings account to help meet her down payment requirement, which later impacts the interest rate and total loan amount.

For those considering entering the market, she advises starting with the loan approval process early to understand borrowing capacity.

– It’s essential to get an idea of what you can afford, so you know your options, she said.

Comparing her previous experience of renting in The Netherlands, where the shortage of housing is steadily increasing the rental prices, Ella appreciates the well-maintained state of the apartments in Finland.

– I feel so much more at ease than in Amsterdam, where I was stressed about the plumbing of the building, for example.

– There is a sense of hurry, though, as the market is currently so good for buyers.

From having her first viewings to securing her short-term rental, it took Ella just about two weeks. She believes finding a property to buy could take no more than two months depending on the financial stability of the buyers.

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Finns ate more meat last year

Published 21 June 2025
– By Editorial Staff
1 minute read

Last year, people in Finland ate more meat and chicken than the year before. At the same time, oat consumption set a new record in the Finnish diet, according to a new study.

Last year, Finns ate 78.2 kilograms of meat per person, including game and offal. Most of the meat, 76.2 kilograms, was beef, pork, lamb and chicken.

The consumption of beef in particular has decreased for several years in a row, but last year it increased, according to a survey by the Finnish Natural Resources Institute. The amount of chicken on the plate also increased in Finnish homes. At the same time, less pork and mutton was eaten. The consumption of fish remained seemingly unchanged, with each Finn eating an average of 13.7 kilograms last year.

Cereal consumption increased last year, reaching 87.3 kg per person. The main increase was in the amount of oats consumed, which reached record levels last year. Wheat and barley consumption also increased, while rye decreased.

– Here we see something of a trend. This is because the food industry has created a lot of new oat products. Part of this trend is also that Finns are drinking more oat milk, says statistics expert Erja Mikkola, to Finnish state broadcaster Yle.

Regular milk drinking decreased by about two percent, but people ate about the same amount of butter and cheese as in the previous year. Furthermore, each Finn ate an average of 48 kilograms of fruit and 64 kilograms of vegetables last year.

Rapid increase in antidepressants and ADHD medicines in Finland

Published 10 June 2025
– By Editorial Staff
One fifth of Finnish women under 30 are currently taking antidepressants.
1 minute read

The use of antidepressants has increased sharply in Finland over the past decade, compared to the other Nordic countries. Prescription of ADHD medication for children has also increased significantly.

One fifth of women aged 18-29 use antidepressants, according to a survey by the Finnish Social Insurance Institution (Kela). Among men of the same age, the figure is eight percent. The figures are double those of 2014.

According to studies, mood and anxiety disorders have become more common, especially among young girls and women. The diagnoses of depression, anxiety disorders and sleep disorders are also increasingly visible in the health care records of young women, says Miika Vuori, Senior Researcher at Kela, in a press release.

Furthermore, adhd medication for children has also increased in the country. Last year, 11% of boys and 4% of girls aged 7-12 were prescribed medication for ADHD. When comparing Swedish and Finnish boys aged 5-9, 6% of Finnish boys used ADHD medication last year, while the corresponding proportion in Sweden was just over 2%. The use of antidepressants among young people has also increased faster in Finland than in the other Nordic countries over the past ten years.

The increase in the use of these two drugs has been strong in Finland, not only in comparison with Sweden but also with Norway and Denmark, says Vuori.

Finnish youth evicted at record pace

Published 3 June 2025
– By Editorial Staff
The number of evictions due to unpaid housing costs has increased fivefold in just three years.
1 minute read

A growing number of young Finns are being evicted from their rental properties due to unpaid rent. Lack of personal finance skills is cited as one of the main reasons.

Debt problems have increased significantly among Finns, with the number of payment reminders increasing tenfold since 2021. During the same period, the number of collections related to unpaid housing costs has increased twentyfold.

At the same time, the number of evictions is increasing – in 2024, 10% of collections for unpaid housing costs have led to eviction, compared to only 2% three years ago.

The problem exists across all age groups, but is particularly pronounced among young adults. It is highest among people under 25, and so far this year, as many young people have run into problems with rent arrears as in the whole of 2023.

“Everything has gone digital”

At Finnish debt collection company Intrum, the impression is that young people do not learn to manage their finances as they grow up and that an unpaid bill is often a matter of forgetfulness.

– They don’t necessarily understand the consequences of not paying a bill, said Reetta Lehessaari, Head of Debt Collection Services, to the Finnish state broadcaster Yle, and continued:

– Apparently, people no longer learn to pay bills at home in the same way as before. Everything has gone digital. Young people no longer see bills being paid in concrete terms.

Fines increased for killing protected species in Finland

Biodiversity

Published 30 May 2025
– By Editorial Staff
The fine for killing an Arctic fox in Finland is €17,656.
1 minute read

The Finnish Ministry of the Environment has significantly increased the fines for killing protected animals. For example, killing a freshwater pearl mussel is now three times more expensive than before.

Recently, it was decided to update the list of protected animals and the penalty for killing one of them. In Finland, the list was last updated in 2002, when a total of 286 animal species were included.

The new updated list now includes 320 animal species as well as 158 plant species that are protected and therefore illegal to kill or harm. Among others, the viper has been added.

The fines for killing a protected species have also been increased. For example, the fine for killing a Arctic fox has increased from €7,400 to €17,656. For the species black tern, it has increased from €185 to €9,865. The freshwater pearl mussel has increased from €589 to €1,496.

Some species on the list have received smaller fines, such as the white-tailed eagle, which has gone from €7,400 to just €407.

The value of a species is assessed on a number of criteria. These include the size of the population, how threatened the species is and how fast it is reproducing.

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