Rosa Lång, Juho Lönnblad, Helena Kalmanlehto and Alisa Montonen are the authors of Construction Law Finland 2024 Guide

Construction Law 2024

Our Construction team’s specialists, Rosa Lång, Juho Lönnblad, Helena Kalmanlehto and Alisa Montonen contributed to annual Chambers Global Practice Guide by authoring the Construction Law Finland 2024.

The Construction Law Finland 2024 is a comprehensive summary of the legal aspects of construction projects and includes a separate chapter about trends and developments in the legal field and the operational environment.

“As during the previous year, uncertainty has been a clear characteristic of the past year in the real estate and construction sector. As financing costs have remained on a higher level than prior to the COVID-19 outbreak and Russia’s invasion of Ukraine, the stagnation in commencing new commercial and housing projects has continued and many ongoing projects in the field have faced profitability challenges. At the same time, infrastructure and energy projects still seem to be largely unaffected by the stagnation. The overall picture for the housing market continues to be challenging as the interest rates have risen at a historically fast pace, which has had a negative impact on consumer confidence.

Due to the long-lasting stagnation especially in the housing sector, some actors have faced solvency issues and the number of bankruptcies in the construction sector has substantially increased.

During the past year, the partial reform of the Land Use and Building Act has taken some steps forward but even before the new Building Act has come into force, the legislature is already preparing an amendment package, also known as the “Repair Kit”, which is expected to come into force on 1 January 2025, simultaneously with the new Building Act”, describe Partners, Attorneys-at-Law Rosa Lång and Juho Lönnblad.

Read the whole article here:

Construction Law 2024

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