The rental housing market in Helsinki is currently oversupplied, providing renters with a wide range of options to choose from. An example of this oversupply can be seen in Kalasatama, where a new tower block with 240 rental apartments was recently completed. Despite the completion of the building, only 48 apartments are currently available for rent, with various promotions and discounts being offered by the management company to attract residents.
According to experts, the oversupply of rental apartments in Helsinki is a recent phenomenon, with significantly more options available compared to just a few years ago. This oversupply has led to landlords offering various incentives such as rent discounts and gift cards to attract tenants. While some renters may prefer rent reductions, others value the quality, price, and location of the apartment.
Despite the oversupply, Helsinki remains the most expensive city in Finland for renting apartments. Median rents in Helsinki are considerably higher than in other major cities, with prices for studio, two-bedroom, and three-bedroom apartments being significantly higher than in other cities. On the other hand, cities like Oulu stand out for their relatively lower rent levels compared to larger cities.
Looking towards the future, experts predict that the oversupply of rental apartments in Helsinki may start to decrease as fewer new buildings are being constructed. The recent decline in building permits for residential construction indicates a potential stabilization in the rental market. Overall, despite the oversupply, the rental housing market in Helsinki continues to be one of the most expensive in Finland.