Record Home Sales in September
(Thomson Reuters ONE) -
According to preliminary information, OP-Kiinteistökeskus real estate agents
brokered almost 13,000 homes and business premises in January-September, the
third quarter accounting for about 4,524 deals. According to preliminary
information, the number of deals in September came to at least 1,660, which is
an all-time high September figure. Last September, they numbered 1,580.
According to Kenneth Sandberg, Vice President, Estate Agent Services, OP-Pohjola
Group, the upward trend in home prices slowed down in Helsinki and elsewhere in
the Helsinki Metropolitan Area in late summer, whereas prices are continuing to
rise in provincial areas.
- That prices have eased in the Helsinki Metropolitan Area may signal that
housing starts underway will gradually increase supply on the market. It seems
that demand has steadied from its strongest level. Housing starts have rebounded
elsewhere in Finland too and will improve the supply of homes in 2011, states
Sandberg.
- Homes put up for sales have been in good supply and we expect that the rest of
the year will also see a lively housing market. Low interest rates, the
improving employment situation and internal migration to growth poles are still
contributing to home sales. However, we must bear in mind that the unemployment
rate will remain high in some regions, which is why property sales in these
regions will remain more subdued too, points out Sandberg.
Common-law partners planning to buy a home should consult an expert
A new Government bill is currently under preparation related to the dissolution
of a common-law marriage and related asset distribution. The new law would
guarantee a common-law partner a minimum protection if one of the partners has
bought a home and paid for it for his own account while the other partner has
paid other costs of living. A partner who becomes homeless after the dissolution
of the common-law marriage could demand financial compensation for the work he
has done during cohabitation.
However, the law would not apply to all common-law marriages and would not
change the fact that in many cases the status of a common-law partner as a
result of divorce or on the other partner's death is inferior to that of a
married couple. The right to marital property does not apply to common-law
partners and they have no right of inheritance or a widowed married couple's
right of permanent possession of the house they cohabited.
However, the law will not prevent common-law partners from entering into an
agreement which may come in useful in an effort to avoid ambiguity when they
separate from each other. Therefore, Sandberg encourages common-law partners as
first-time home buyers in particular to agree on things in case not everything
would go according to plan.
- Before buying a home, it pays to ponder how the ownership of the home should
be distributed considering the amount of money both partners put into buying the
home and the first-time home buyer's exemption from transfer tax.
For example, people can enter into a prenuptial agreement to agree on what they
will do with their home in the case of separation and how they will distribute
the rest of the property. Couples may execute joint wills in order to, say,
secure the surviving couple's right of possession of their home on the other
couple's death.
- It always pays to let an experienced expert draw up agreements and wills to
avoid any subsequent ambiguities. Our OP-Kiinteistökeskus real estate agent
customers can make use of the network of Group member bank lawyers, which is the
most extensive in Finland.
For more information, please contact: Kenneth Sandberg, Vice President, Estate
Agent Services, OP-Pohjola Group Central Cooperative, tel. 0400 473 678
OP-Kiinteistökeskus estate agents are Group member banks' subsidiaries and part
of OP-Pohjola Group. Gauged by transaction volumes, they are Finland's largest
chain operating under a single brand. OP Kiinteistökeskus has some 170 offices
throughout Finland.
[HUG#1449730]
OPKKK sales 2008 - 2010:
http://hugin.info/142911/R/1449730/391545.jpg
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Source: Pohjola Pankki Oyj via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 07.10.2010 - 09:01 Uhr
Sprache: Deutsch
News-ID 44481
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