Moving boxes being carried in Helsinki. Housing-related debt problems and evictions are surging. Photo: Emmi Korhonen / Lehtikuva
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Debt linked to housing costs is rising rapidly in Finland, with the sharpest increase among young adults, according to figures released by credit management firm Intrum.
The number of debt collection cases involving people aged 18 to 24 increased by more than 170 percent last year, compared to 2021. Over the same period, the number of individuals in that age group in debt rose by more than 190 percent.
This year, the number of young adults in housing-related debt is projected to match the total number of debtors from all age groups in 2023.
Intrum’s data, which covers over one million Finnish customers, shows that young adults are now the most affected group in housing-related payment difficulties. Debt issues have become increasingly common for those aged 25 to 29 as well.
Reetta Lehessaari, head of Intrum’s collection services, said forgetfulness is a major factor among younger people falling behind on rent or other housing bills.
“Many of the late payments among young adults appear to be caused by absentmindedness rather than inability to pay,” she said.
Debt growth among those over 30 has stabilised, and figures for those over 50 remained flat last year.
Evictions linked to unpaid housing bills have also increased significantly. In 2022, only 2 percent of housing-related debt cases led to eviction. By 2024, that figure had jumped to 10 percent.
HT
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Source: www.helsinkitimes.fi
