The construction market and the market for new homes have been changing fast. The sales have clearly slowed down because of rising interest rates and the reaction has been to cut prices. First, the prices of existing and already-built homes came down. Now also construction companies in a strong position have been able to cut the prices of new to-be-built homes.
Also we at Loimukodit have worked hard and we have been able to renegotiate during the past few months the prices of our subcontractors and deliveries markedly down. This is very good news for both the buyers of new homes and a strong construction company like Loimukodit. We have cut the prices of the new to-be-built homes at Muolaantie 30 almost 10% compared to when the homes came to the market last fall when the prices of building materials and work were at the peak.
We have also been able to complete all the preparation works at the lot. The foundations are ready for the construction of the structure and we can complete the homes in optimal schedule as quickly as 7 months from the sale. Also the construction time has come down several months compared to where we were just last fall.
The new homes at Muolaantie 30 will be built one by one as soon as sales are signed. This is now undoubtedly one of the best deals in many years to buy a new, modern, ecological, tailored single-family home in Espoo in a great location!