Residential construction has increasing in Finland this year. The cubic volume of land covered by newly granted building permits is 50% larger than the volume of a year earlier. The current flurry of building activity is due to the fact that in 2009, residential construction was sluggish.

Finland's central bank also reports that in July 2010, the average interest rate on new housing loans rose to 2.03%, up from 1.90% in June. About €1.5 billion worth of loans have been borrowed in total, compared to €1.3 billion a year ago.

Source: Helsingin Sanomat