Finland sees more “ghost houses” each year.
In 2023, Finland saw a record number of apartment buildings go bankrupt. Sixty-two companies filed for insolvency. Residents in Virro lost control of their buildings.
The situation began with two apartment buildings in Virro, Finland, being declared bankrupt. Residents no longer manage the buildings. A court receiver wants people to move out quickly because the buildings are not safe to live in. This problem shows issues in the Finnish housing market. Many buildings are now without owners and in poor condition.
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Highlights
Record Bankruptcy of Apartment Buildings
Sixty-two apartment companies in Finland declared bankruptcy in 2023.
Virro Buildings Bankrupt
Two apartment buildings in Virro, Finland, were declared bankrupt.
Residents Lose Control
Residents lost control of their properties due to the bankruptcies.
Uninhabitable Buildings
The court receiver urged residents to move out due to uninhabitable buildings.
Poor Building Condition
Many buildings are now left unattended and in poor condition.