Everything sells if it’s priced correctly. Where I live you can buy a new apartment, or you can buy an older one with all renovations done from the same area about half the price. In this economy why would anyone choose the new one.
krooked-tooth on
I’ll tell you a little secret why….come closer….real close….*whispers* „unemployment rate is high, no one has job security or lost their job“
sodantok on
This is just personal anecdote, but I had to suffer year and half of noises while they constructed their 3 buildings of apartments right in front of my window. That was 3 years ago and 1/3 of them look unocuppied. I looked up what they are building and selling/renting and they really rammed as many units into those buildings as they could, all but few special are smaller than my apartment or same size with more rooms. For more obviously. There is some advantage of newer apartments but imo size (or room count with reasonable size) wins over any negatives of older units.
Ok_Gas_8606 on
I mean if the apartments were even grand and looked nice they could justify the costs but 300k for a shoebox in the side of the city is absurd
odensso on
New apartments are small with no kitchen and storage place so no thanks
oufftheshouwer on
Theyll sit empty while they refuse to lower prices(because -20% less profit! Cant have that), then they’ll get some contract with the government who’ll overpay significantly, and the cycle continues.
LonelyRudder on
The problem is that the day the construction company decides to lower their prices, they also have to write off the value difference of the apartments they have – which shows as losses. And with their current revenue they can’t take those losses, so they try to kick the can as long as possible, offering all kinds or extras instead of lowering the values in their books.
markkuselinen on
I mean, how much should a family earn to afford monthly loan payments for one of those 680k EUR 82.5m2 family-sized apartment in this kerrostalo? My guess is over 10k/month combined, which is pretty rare for both spouses, especially in the current job market and economy. Main bedroom is made in such a way that you can’t even put TV on the wall. Close by is only a small (and probably overpriced) K-Market. 35 min on public transport to city center. One advantage is oma tontti, but I wouldn’t pay for that more than 500k.
NikNakskes on
Well. They cram ever more buildings on a lot and the flats get ever smaller. A 3 room apartment in 62m2? Like what are they thinking?! Terrible. No wonder they don’t sell anymore.
Awelonius on
Let’s see. They’re small. Crammed. No storage space. You can hear when your neighbours cough and they are vastly overpriced. These could be the reason but the grynders gonna grynd and make absolute pissholes of tiny apartments with ridiculous pricing.
kharnynb on
the current new places they build are horrible, bad layouts, weird design, low quality…I wonder why they sell badly
ukonkivi on
Looking a the floor plans of almost any new apartment building, it is abundantly clear that they were built to be sold, not to lived in. Not designed as a home, but as an instrument of profit for the builder.
roiki11 on
Maybe because they’re expensive as shit flats in the ass end of nowhere. They expect city center prices for apartments from shirty location because they’re „new“.
I wonder why no one is running to buy them /s
vesitim on
I would guess the original planning for all these began pre covid. Work from home now is much more common and people want bigger living spaces. If they combined two of these dog kennels into one bigger apartment they might sell a bit quicker.
Worth_Farm_7158 on
I’m potentially in the market for a larger family house / apartment. As two pretty much bang on middle income earners the difference what we could afford and what the asking price of the newbuilds is seems to be the price of the land. I look at the oikotie search results and go ah this looks nice I could see myself making an offer on this apartment and then scroll down to see something absurd like: ”the buyout price of the rental plot is 150k more”. Nevermind. I hope all these property investment funds go belly up. Greedy pigs.
dr_tardyhands on
The new developments are kind of ideal for a young person who’s moving up in their career, in a good economy where the price of real estate is going up. E.g. they often have a clause that allows you to delay the payment of the joint loan for the first 2 years, so in a way you can leverage further than you could even with a normal mortgage.
There’s very few young people moving up in their career right now in Finland and the price of real estate is not going up.
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Everything sells if it’s priced correctly. Where I live you can buy a new apartment, or you can buy an older one with all renovations done from the same area about half the price. In this economy why would anyone choose the new one.
I’ll tell you a little secret why….come closer….real close….*whispers* „unemployment rate is high, no one has job security or lost their job“
This is just personal anecdote, but I had to suffer year and half of noises while they constructed their 3 buildings of apartments right in front of my window. That was 3 years ago and 1/3 of them look unocuppied. I looked up what they are building and selling/renting and they really rammed as many units into those buildings as they could, all but few special are smaller than my apartment or same size with more rooms. For more obviously. There is some advantage of newer apartments but imo size (or room count with reasonable size) wins over any negatives of older units.
I mean if the apartments were even grand and looked nice they could justify the costs but 300k for a shoebox in the side of the city is absurd
New apartments are small with no kitchen and storage place so no thanks
Theyll sit empty while they refuse to lower prices(because -20% less profit! Cant have that), then they’ll get some contract with the government who’ll overpay significantly, and the cycle continues.
The problem is that the day the construction company decides to lower their prices, they also have to write off the value difference of the apartments they have – which shows as losses. And with their current revenue they can’t take those losses, so they try to kick the can as long as possible, offering all kinds or extras instead of lowering the values in their books.
I mean, how much should a family earn to afford monthly loan payments for one of those 680k EUR 82.5m2 family-sized apartment in this kerrostalo? My guess is over 10k/month combined, which is pretty rare for both spouses, especially in the current job market and economy. Main bedroom is made in such a way that you can’t even put TV on the wall. Close by is only a small (and probably overpriced) K-Market. 35 min on public transport to city center. One advantage is oma tontti, but I wouldn’t pay for that more than 500k.
Well. They cram ever more buildings on a lot and the flats get ever smaller. A 3 room apartment in 62m2? Like what are they thinking?! Terrible. No wonder they don’t sell anymore.
Let’s see. They’re small. Crammed. No storage space. You can hear when your neighbours cough and they are vastly overpriced. These could be the reason but the grynders gonna grynd and make absolute pissholes of tiny apartments with ridiculous pricing.
the current new places they build are horrible, bad layouts, weird design, low quality…I wonder why they sell badly
Looking a the floor plans of almost any new apartment building, it is abundantly clear that they were built to be sold, not to lived in. Not designed as a home, but as an instrument of profit for the builder.
Maybe because they’re expensive as shit flats in the ass end of nowhere. They expect city center prices for apartments from shirty location because they’re „new“.
I wonder why no one is running to buy them /s
I would guess the original planning for all these began pre covid. Work from home now is much more common and people want bigger living spaces. If they combined two of these dog kennels into one bigger apartment they might sell a bit quicker.
I’m potentially in the market for a larger family house / apartment. As two pretty much bang on middle income earners the difference what we could afford and what the asking price of the newbuilds is seems to be the price of the land. I look at the oikotie search results and go ah this looks nice I could see myself making an offer on this apartment and then scroll down to see something absurd like: ”the buyout price of the rental plot is 150k more”. Nevermind. I hope all these property investment funds go belly up. Greedy pigs.
The new developments are kind of ideal for a young person who’s moving up in their career, in a good economy where the price of real estate is going up. E.g. they often have a clause that allows you to delay the payment of the joint loan for the first 2 years, so in a way you can leverage further than you could even with a normal mortgage.
There’s very few young people moving up in their career right now in Finland and the price of real estate is not going up.