Home Ownership Still Cheaper Than Renting
Owning one's residence continues to be a cheaper alternative than renting, reports the daily Helsingin Sanomat.
The report quotes the Pellervo Economic Research institute PTT to the effect that the total costs of living in a self-owned residence are only about 60% of the expenses of a rental.
During the late 1980s and early 1990s, the opposite was true. At that time, it made more economic sense to rent. However, since the mid-1990s ownership has been less expensive.
The paper says that if rents continue their upward trend, home ownership will become increasing attractive. On the other hand, high purchase prices, especially in the capital area are a barrier to ownership for many people.
YLE, Helsingin Sanomat