The average price of holiday homes bought via OP Koti increased by 10 per cent from last year – how you should prepare a holiday home for the winter
The number of holiday homes purchased through OP Koti this year was the same as last year, but the average price was 10 per cent higher than last year. Pohjola Insurance’s professional lists the most common accidents occurring in holiday homes and explains how to protect the holiday home in case of storms or frost.
Holiday home sales were strong during the coronavirus pandemic of 2020–2021 but have since returned to pre-pandemic levels. This year, holiday home sales started more calmly than last year, but sales figures have increased during the summer. For the whole year, trade volumes will rise to last year's level and even a little higher.
“There are two seasons for the sale of holiday homes. In the winter, holiday homes are especially sold in fell centres, while in the summer they are sold close to waterways, the latter of which can be used both as summer cabins and better-equipped properties suitable for year-round use,” says Lasse Palovaara, Director of OP Kodi.
“Summer season sales are strongly connected to the weather. This year, spring came late, which was reflected in the slow start of sales. Since then, however, the weather has been very warm and summery, and many deals have been made in July and August.
Holiday homes brokered through OP Koti have been slightly more expensive this year compared to last year. In 2023, the average price by the end of August was about EUR 100,000, while the price for this year was about EUR 110,000.
“The price range for different properties is really large, but more often than not, today's buyer wants a place that is easy to drive to, where you can work remotely and where you can find all modern conveniences. A higher level of accessories is naturally reflected in the price of a property. However, even more affordable holiday homes have their own buyer base, which appreciates a certain kind of asceticism and the contrast with city living,” says Palovaara.
Weather phenomena behind accidents: heatwaves, storms and frost cause damage to holiday homes
“There are also various risks related to holiday homes,” reminds Markus Uimonen, Director of Property Insurance Claims Settlement at Pohjola Insurance. The level of equipment should therefore be taken into account when taking out insurance: a holiday home without electricity and running water should be insured differently from a holiday home with all the comforts.
In the case of holiday homes, the most significant damage in terms of euros is caused by equipment breakdowns and natural phenomena. Device breakdowns highlighted during this summer. For example, air-conditioning heat pumps and refrigerators have broken down during summer heat waves. Natural phenomena, such as storms, are a source of trouble to holiday home owners, especially in late summer and autumn.
Storms or strong gusts of wind can knock down trees and cause damage to buildings or things in the yard. Although severe storms are still quite rare in Finland, it is worth preparing for them at a holiday home.
“It is a good idea to safely store all property at the holiday home that may fly away due to strong winds. I also recommend checking for loose roof panels at least once a year, and always after bigger storms. It is also important to make sure there are no rotten trees on the property,” reminds Uimonen.
Pipelines are endangered in the winter. Last January, the record frosts caused a lot of pipeline leakage damage.
“When you prepare the holiday for the winter, the pipes must be emptied and the shut-off valve and water pump must be closed, if the holiday home is not heated during the cold season. Even if you want to keep the holiday home heated all year round, never leave the air source heat pump as the only source of heat. The device may freeze and break, freezing the water pipes. We recommend a maintenance temperature of at least 12 degrees,” advises Uimonen.
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OP Financial Group Communications, tel. 010 252 8719, viestinta@op.fi
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