The future price of housing is important not just for citizens trying to plan their lives, but also for banks, the construction sector and society as such. However, the high level of complexity in the housing market makes predictions challenging. Thus, it is good news that Finnish OP Financial Group and CSC, the national research and education network (NREN) of Finland, have made progress in the development of a new tool for such complex calculations, namely quantum computing.
Fed with data from the previous ten-year period, the method estimated that the price of housing in Finnish capital Helsinki in 2021 would be 4,997 euro per square meter. This is very close to the actual price which turned out to be 5,009 euro per square meter.
The result did not have direct implications, as the prediction was not adopted in any business decisions. The real value lies in demonstrating that quantum computing – which not too long ago was seen by many as something from science fiction – is close to becoming reality. The implication is that complex calculations which presently lie beyond the horizon of even supercomputers may become possible.
Submitted by Morten Anderson