Olas becomes market leader in detached house sales in the capital region

Olas Group Oy has risen to market leadership in developer contracting of detached houses in Helsinki, Espoo, and Vantaa, measured by the number of homes sold.

Olas clearly number one in the last 6 months

According to sales data collected by STH Group, which specializes in construction market data, Olas shared the top spot in the twelve-month period ending mid-October with YIT Housing Oy and T2H Rakennus Oy, each holding an 11.46% market share. Looking at the most recent six months, developer-contractors sold a total of 121 detached houses in Helsinki, Espoo, and Vantaa. During this period, Olas was the clear market leader with a 17.36% share.

“Olas’s market share growth is based on three factors,” says Olas CEO Markus Alitalo. “The growth stems from skilled and satisfied employees, happy customers, and the company’s strong financial standing. In our most recent employee satisfaction survey, we achieved an excellent eNPS score of 81. Our customer satisfaction score (NPS) over the past 1.5 years is 66, which is very good. As proof of our strong financial position, our credit rating is the highest possible, AAA,” Alitalo explains. Markus Alitalo.

The number of detached houses sold in the capital region is, based on STH Group’s data, expected to remain below a quarter of the 2021 peak. Nevertheless, Olas’s revenue is set to grow by more than 20% this year. In addition, the increase in inquiries from potential homebuyers indicates that a positive shift is underway.

“The fact is that there is currently limited supply of new detached houses while demand has grown. The sharp decline in reference interest rates has not yet been reflected in the daily lives of many mortgage holders. However, sales could pick up further in the spring, when more people reach their interest rate adjustment date and realize they have more disposable income again,” Alitalo predicts.

Geothermal homes built from Nordic wood

Olas builds comfortable and high-quality geothermal homes from Nordic wood in prime locations. The company focuses on acquiring plots, planning, permitting, and customer service. Olas homes are characterized by geothermal heating, the use of Nordic wood as a building material, large windows, high ceilings, private yards, and the possibility to influence interior colors, finishes, and fixtures.

Since its founding in 2017, Olas has grown steadily into one of the leading builders of detached houses in the Helsinki metropolitan area. Financially, it ranks among the strongest in the industry: revenue in 2023 was 17.7 million €, and the company’s credit rating is the highest possible, AAA. Olas aims to reach 100 M€ in revenue by 2028.