Building permits in Finland decrease by 17% from June to August 2024

According to Statistics Finland, the volume of building permits granted from June to August 2024 decreased by 17% compared to the same period last year. A total of 6.5 million cubic meters in new construction permits were issued. Juho Keskinen, Chief Economist at Hypo, notes that consumer decision-making is overshadowed by uncertainty, despite ample job opportunities and the economy being on a growth trajectory.

Hypo predicts that more residential projects are likely to commence next year than this year. “Land is currently more available than it has been historically, yet land prices are adjusting downwards very slowly, which in turn hampers the improvement of construction profitability,” Keskinen assessed.