Nordicum - Real Estate Annual Finland 2011 | Page 69

renovated office space. This accounts for almost two thirds of
the premises that are vacant at
the moment.
According to KTI, there
is more vacant office space in
Pitäjänmäki and Pasila-Vallila-Sörnäinen triangle than anywhere else in the city. Outside
the capital region, the lease markets of major cities are enjoying
rather stable development.

Retail Leads
the Comeback

of new offices. Furthermore,
the small number of potential
financers tends to make transactions tricky – especially when
it comes to more risky property assets and assets outside the
capital region.
“In 2010, the interest of investors focused on low-risk targets such as property with longterm leases with strong covenants or downtown real estate of
the biggest cities. The challenge
is to make the transaction market work with regards to other
types