How will Finnish households live in the coming months?

The cost of heating electrically heated homes has homebuyers worried, reports Helsingin Sanomat. Image: Henrietta Hassinen / Yle

With the approach of the cold which increases the demand for energy, Hufvudstadsbladet (siirryt toiseen palveluun) plots clues to the true severity of conditions as temperatures drop.

“In Finland and Norway, it looks like it will be slightly warmer in October, November and December than usual,” the IMF meteorologist said. Cecile Wolff told the newspaper, citing new forecasts from the European Center for Medium-Range Weather Forecasts (ECMWF).

The center’s forecast also suggests winter temperatures will be milder than normal across the continent. Wolff, however, pointed out that these projections are based on average temperatures, which does not rule out the possibility of exceptionally freezing days and weeks.

Cost of life

Helsingin Sanomat (siirryt toiseen palveluun) meanwhile, reports that the cost of heating electrically heated homes is injecting fear into homebuyers.

The daily’s most-read story features a young family in the capital region whose interest in a potential home has cooled after calculating they would spend at least 10,000 euros a year to heat it. Heating their current home costs less than 1,000 euros per year thanks to geothermal heating.

“Winter is a real madness. No one knows where things are going or how the economy or interest rates will develop,” said one Espoo resident. Ossi Kukkonenadding that this is a buyer’s market for electrically heated homes.

More for less?

Business Daily Kauppalehti (siirryt toiseen palveluun) is also interested in housing, telling readers that in Salo, just an hour from the capital, buyers can afford a six-room house for the price of a studio in Helsinki.

Salo, about 120 kilometers west of Helsinki, was home to a major Nokia production plant before the company closed the plant. Hit by job losses, the city suffered a real estate crisis when the handset maker left.

“We are a good example of the world not coming to an end after all,” a local Salo real estate broker said of Nokia’s departure. “It didn’t affect us as dramatically as expected, although the 30% drop was tough.”