The rental housing market in Helsinki is currently experiencing an oversupply, giving renters a plethora of options to choose from. This is evident in the completion of a new tower block with 240 rental apartments in Kalasatama. Despite the availability of these apartments, there are still vacancies, prompting landlords to offer discounts and gift cards to attract tenants.
According to experts, the oversupply of apartments in Helsinki is a recent phenomenon, with significantly more options available than in previous years. This has created a healthy market for renters, who now have the opportunity to visit multiple apartments and choose the one that best fits their needs in terms of quality, price, and location.
Various campaigns and offers, such as rent reductions and gift cards, are being used by landlords to attract tenants in this oversupplied market. While the demand for rental apartments remains strong, especially for larger family units, the supply is expected to stabilize as fewer new apartment buildings are being constructed.
Despite the oversupply, Helsinki remains the most expensive city in Finland to rent an apartment. Median rents for studios, two-bedroom and three-bedroom apartments in Helsinki are significantly higher than in other cities such as Espoo and Oulu. However, Oulu stands out as a more affordable option in the rental market with significantly lower median rents compared to other major cities.