Tampere's housing market was quieter in 2022 than in the past, and prices have fallen slightly on average since 2021. Global events such as the COVID-19 pandemic, the war in Ukraine and the rise in electricity prices increased inflation and pushed up mortgage rates sharply. In late 2022 and early 2023, the market slowed down significantly.
However, there are now clear signs of recovery. Inflation has levelled off and the rapid rise in interest rates has come to a halt. Some banks are even predicting that interest rates may soon start to fall. In addition, electricity prices have fallen from their peak levels and Finland has not experienced the feared power cuts that were a concern in the autumn.
The housing market is recovering
The market transformation started at the turn of January and February. According to estate agents, buyer interest has returned, with almost as many prospective buyers attending property viewings as in previous years. This suggests that the housing market is recovering. Housing transactions are expected to pick up during the spring and summer.
Why now could be the right time to buy or sell?
Life situations change, and for many people, changing home will become an issue at some point. There may be a change of job, a change in family circumstances, a change in the maintenance of a detached house, a change of lifestyle, or someone who wants more space and peace in the countryside.
House prices have fallen slightly, making a new home a more affordable purchase. In many cases, the need for a deposit remains the same as in previous years. The market is currently favouring buyers, but there are also fewer properties for sale than usual, so correctly priced homes are selling.
If you're thinking about selling your home, now is a good time to get on the market. Homes will continue to be sold and bought, and a home is more than an investment - it's a place to live.
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