According to the statistics of KTI, some 200,000 sqm of new office space were under construction at the end of March in the Helsinki metropolitan area (Helsinki, Espoo and Vantaa), and, during the first quarter, some 30,000 sqm were completed. In the retail property market, approx. 205,000 sqm of new space were under construction in the Helsinki metropolitan area. Construction volumes are expected to slow down significantly when the ongoing projects will be completed, since the construction permits and starts for both office and retail properties have decreased significantly in the Helsinki region. The hotel property supply continues to increase, and at the end of March, more than 80,000 sqm of new hotel space were under construction in the Helsinki metropolitan area.
Outside the Helsinki metropolitan area, the office construction volume is highest in the Tampere region, where some 33,000 sqm of new office space were under construction at the end of the first quarter. Retail property construction volumes remain low in all major cities outside the Helsinki metropolitan area. Outside the main cities, the largest project is underway in Seinäjoki, where the 66,000 sqm Ideapark shopping centre is due for completion in late 2019.
Source : KTI