Helsinki Metropolitan Area - Raiffeisen-Leasing
Helsinki Metropolitan Area - Raiffeisen-Leasing
Helsinki Metropolitan Area - Raiffeisen-Leasing
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Conclusions – Finnish Real Estate Market Spring 2008<br />
� Cooling economy - Satisfactory fundamentals compared to average Europe<br />
� Active office construction in <strong>Helsinki</strong> will increase vacancy from 8 % to 9-10 % focusing on old stock<br />
� Transaction volume forecast EUR 4-5 billion – high volume in Q1 2008 but only few deals<br />
� International investors continue to be active - Finland is consistently part of the European investment<br />
market<br />
� Banking system suffers and problems will continue – new sources of financing are needed<br />
� Yields in the best premises are stable – supply limited. Values of secondary assets under pressure - re<br />
pricing evident => back to quality<br />
� Valuation challenge – first time decreasing values in the IFRS environment<br />
� Residential market: No panic – rents are rising and level of new supply is decreasing<br />
� In 2008 delivering returns require active asset management – no more “free lunches”<br />
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