Surprising advice from a real estate agent in Helsinki: Get your apartment sold before June | Homeland

The European Central Bank is expected to cut key interest rates next week, which could have a stimulating effect on home sales.

Real estate agent Pipsa Saarinen took the photo at her workplace in Bo LKV. Photo: Jonah Salmela / Bo LKV

Homebuyers are eagerly awaiting the outcome of the European Central Bank’s ECB interest rate meeting. The ECB will meet next week on Thursday, June 6.

The key interest rate is expected to come down to 3.75 percent from the current 4 percent. This will lower mortgage interest rates in Finland as well.

A real estate agent operating in Helsinki Pipsa Saarinen Recommend that now is a good time to buy back an apartment that has been put up for sale for a long time and put it up for sale again after the interest rate has come down.

– It might be a big break for something like this, let’s give the apartment a little break now, and then after the inspection day, before Midsummer, we’ll see if the shop still shows up.

Saarinen reminds us that constant sales of apartments and hanging on the website are not good for the property.

Saarinen says that withdrawing the item from the sale will not help: during the break, you should at least take new pictures and lower the price. Additionally, the ad can be promoted back to the top of apartment search services.

Sellers move in and ask for higher prices

There are a large number of apartments for sale in Helsinki. Saarinen has noticed that sellers are often surprised by their apartment’s declining value. According to Saarinen, it is difficult for them to accept the realistic price of an apartment based on statistics.

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– Apartment sellers are not ready for price negotiations.

Commercial director of real estate brokerage firm Huoneiteskus Marina Salenius On the other hand, he noted that the need for shifting flats is clear to people. Due to rising costs, people are scared away from buying apartments.

Salenius points out that potential buyers have increased visits to sales websites.

Will the ECB’s interest rate cut cause a rush for home sales?

According to Salenius, if the interest rate is expected to be 0.25 percentage points, there will be no rush to buy apartments.

– Emergency would require sharp interest rate cuts.

However, according to Salenius, a decrease of 0.25 percentage points will reduce uncertainty among buyers. Salenius points out that if the ECB cuts its interest rate, it could mean another rate cut later this year.

Lowering the benchmark interest rate will be good news for mortgage and mortgage borrowers as it makes mortgages cheaper in terms of costs.

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