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New residential construction increased for third consecutive year in Helsinki

The number of new housing units completed in Helsinki in 2016 was 4,395. The number of housing starts was 5,129, and building permits were granted for 5,597 units. New residential construction in Helsinki has been at markedly higher levels in the 2010s than in the previous decade. Since 2012, an average of 4,500 new housing units have been completed in each year.
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Housing starts in 2016 exceeded the number of units completed, so the number of housing units under construction remained at 7,000. The number of building permits granted in 2016 was record high for the third consecutive year. As a result, new residential construction is expected to remain robust in the current year. The residential construction target set by the City Council is currently 6,000 new housing units annually.

In 2015 new residential construction largely focused on non-subsidized owner-occupied and rental housing. In terms of ownership types, the breakdown of new housing starts and new building permits in 2016 was markedly closer to the targeted breakdown defined in the programme for housing and related land use approved by the City Council. The shares of both non-subsidized rental housing and right-of-occupancy housing were markedly higher in new residential construction in 2016 than in the previous year.

The most significant area of housing starts in 2016 continued to be West Harbour (Länsisatama), where housing starts again exceeded 1,000. The largest number of new housing units completed was in Kruunuvuorenranta. New residential areas represented 58 percent of housing units under construction at the turn of the year, and 42 percent consisted of infill construction.