As summer approaches, the real estate market for summer cottages is buzzing with activity. The allure of owning a piece of paradise by the water is enticing both buyers and sellers alike, sparking a surge in transactions. With nature coming to life and the landscapes transforming into picturesque summer scenes, the demand for vacation homes is on the rise.
In regions like the coastline of Pohjanmaa, over a hundred vacation homes and plots are currently available for sale, captivating the attention of eager buyers like Jukka Hakamaa. For Hakamaa and his family, the ideal cottage must have easy road access, a proper beachfront, preferably by the sea, surrounded by pine forests, trails, and open, bright spaces, all within a half-hour drive from the city center. Even a vacant lot holds appeal, especially with the increasing trend of remote work, emphasizing the importance of reliable internet connectivity.
Despite his stringent criteria, Hakamaa remains optimistic in his search, having come close to securing his dream cottage in a recent auction where they narrowly missed out. This pursuit has consumed Hakamaa for about a year, reflecting the growing interest in cottage ownership.
The onset of the COVID-19 pandemic saw a peak in cottage sales, and although the numbers have not yet reached those levels, a noticeable uptick in activity is evident. Forecasts from the Central Association of Finnish Real Estate Agencies predict that the current year will surpass last year in terms of sales volume, with expectations of it being the busiest year since 2021.
Statistics from the association’s price monitoring service reveal a nearly 40% increase in the sale of vacation homes nationwide from January to April compared to the previous year. The momentum typically peaks during spring and summer, with estimates suggesting that two-thirds of Finnish vacation home purchases occur between June and August.
In the recent transactions, Lapland leads the pack with 31 sales in April, followed closely by Uusimaa with 39. The surge in the number of vacation homes sold in Lapland is notably attributed to foreign buyers showing interest in the region.
Local real estate agent Juha Mähönen echoes the positive outlook, noting early inquiries and heightened seller activity, partly fueled by reduced interest rates. The newfound optimism and financial stability have prompted individuals, particularly those over 50 who have downsized from houses to apartments, to consider investing in a vacation home.
Mähönen points out that waterfront cottages tend to be in high demand, with easy accessibility being a key factor for most buyers. While island cottages may be more affordable, the convenience of reaching the property anytime, even for a late sauna session, often outweighs the cost considerations.
Despite the growing interest, prices have not seen a significant spike. A well-maintained, accessible cottage priced around €150,000 tends to attract buyers, aligning with the average cottage price of €139,000 in the first four months of the year. However, the median price of €102,000 indicates a wide range of pricing in the market, influenced by factors like location, amenities, and condition.
As the summer unfolds and the cottage market thrives, the narrative of seeking solace and adventure in a quaint retreat by the water continues to captivate both seasoned buyers and newcomers. The ebb and flow of the market reflect not just a transactional trend but a cultural appreciation for the simplicity and serenity that cottage living offers, underscoring the enduring appeal of owning a slice of paradise in the midst of nature’s embrace.
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