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North trio

01.07.2010
Author: Natalia Dounar
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Thanks to the beautiful ecology, natural beauties and high quality of life, buyers are willing to not only pay, but sometimes even overpay for real estate in the Scandinavian countries. The climate here can not be called warm - but the Russians feel at home in it.
The Scandinavian real estate market matches the look of Scandinavia itself. Here, as in no other region of Europe, there is a smooth dynamics of prices, there are practically no legal obstacles, the level of corruption is almost zero. Over the past years, Finland, Sweden and Norway have been among the ten most competitive economies in the world. And yet the Scandinavian countries cannot be regarded as a single territory, they are not alike. “From an economic point of view, Norway is the most developed, but I haven’t come across any requests to buy Norwegian real estate,” says Igor Indriksons, Director of Overseas Property Investments at IntermarkSavills. - First of all, Finland is in demand among Russians. It is less closed towards foreigners, moreover, it has always been oriented towards tourism, one of the important components of its economy. " In the early 1990s, significant price drops were recorded across Scandinavia - perhaps the sharpest and most synchronous jump in decades. In Sweden and Norway, the situation leveled off by the beginning of the new millennium, when the annual growth in house prices was 5–7% and 10% per year, respectively - this trend continued until 2008, when the vector changed downward. In Finland in 2000-2001. there was a slight decline in property prices, followed by a prolonged, albeit moderate (5-7% per year) market upturn, which ended in mid-2008 For the fisherman and the fish The economy of Finland, the only one among the Scandinavian countries of the republic, has always been distinguished by enviable constancy. “This is a stable, safe country with a loyal attitude towards Russians,” says Anna Mardoyan, Marketing Manager at Holiday Club. - There are no random people here. Real estate in Finland - regardless of whether it will be an apartment in Helsinki or a wooden blockhouse on the shore of one of the innumerable lakes, is bought by those who already know the country well - they have vacationed here, visited friends or have a business. " Due to its geographical proximity, our compatriots regard Finland as a summer cottage. In addition to the opportunity to come to a foreign home by car, they are attracted by European service combined with excellent ecology. The standard request is a small house with a sauna on the lakes, surrounded by a forest, always with a coastline and a large territory. But ski resorts are in much less demand. According to official data, in the middle of last year, average house prices in Finland began to decline, but in the second quarter of 2009, their growth was outlined again. Compared to the same period in 2008, prices in the secondary market decreased by 2.8%. At the same time, the cost of new buildings continues to decline slowly - by 4.5% YoY. “Russians prefer border areas, for example Lahti in Southern Finland or the Lake Saimaa region, where you can easily get there by car from St. Petersburg or Karelia,” adds Anna Mardoyan. The availability of infrastructure, as well as the distance from the border, significantly affect prices. The minimum cost of a house is about 35,000 euros for a "chicken coop" in a remote wilderness area, while a two-storey house with a kitchen, two rooms and a terrace near the coastline will cost at least 50,000-100,000 euros. The price of a decent house on the lake starts from 200,000 euros. As for Helsinki, real estate prices in the capital cannot be called low. At the same time, the choice is very diverse - from standard apartments in low-rise blocks to spacious apartments. The price plug in Helsinki is 3000-6000 euros per 1 sq. M. m. A spacious multi-room apartment with a fully equipped kitchen may well “pull” about 1 million euros. The undoubted plus of buying real estate in Finland is the low, less than 1%, annual property tax. When choosing a house in Finland, it is necessary to take into account several factors - the availability of heating, sewerage and electricity, as well as good access and proximity to major transport routes. Typically, good homes have a fireplace or wood-fired stove. For example, a house with an area of 134 sq. m in Ruokolahti, 25 km from the border with Russia, on the shore of a lake, with electric heating, sewerage and water supply costs 328,000 euros. The high price is associated with the excellent equipment of the house and the availability of infrastructure - the nearest store is 3 km away, which is considered a short distance for Finland. Real estate agencies are engaged in registration of the sale and purchase, all commission costs are borne by the buyer. Property registration takes place within two weeks. Although Finland is the most loyal to Russians of all the Scandinavian countries, the presence of property does not give the right to obtain a long-term visa. “Owning real estate makes it easier to get it, but it doesn't guarantee it. A visa can be given for the duration of a vacation, for a year or two, or they may not be given at all. On the other hand, in the Scandinavian states, if all documents meet the requirements, there are no refusals, ”says Igor Indriksons. With a successful combination of circumstances, you can get a Schengen visa for 5 years, but with the right to stay no more than 180 days a year. Visiting Carlson In 2008, the Swedish economy entered a period of recession accompanied by a decline in GDP (-5.5% is forecasted for 2009) and an increase in unemployment, which has already reached 7.9%. After a slight drop in property prices last winter, in the II quarter of 2009 they rose again and were fixed at 2% below the last year's maximum. An improvement in the economic situation is not expected earlier. “Real estate in Sweden is primarily interested in people who open their own business here, as a rule, hotel or retail. Requests for residential real estate are much less common, as a rule, they are related to the education of children at local universities, primarily in Stockholm, ”says Elena Utyumova, an overseas property specialist at EuroResident. Indeed, Sweden is one of the few European countries where education in English is possible. “There are times when the whole family moves to Sweden together with a student child,” adds Elena Utyumova. But quality education is not the only plus. Such factors as the proximity of Europe, developed infrastructure and social services, safe and measured life, compact cities with laconic and cozy architecture also speak in favor of Sweden. The most popular cities with buyers are Stockholm, Uppsala, Gothenburg. Our compatriots are not interested in cold Lapland, unlike cottages on the islands. A small apartment in Stockholm can be purchased for 50,000 euros, but in a prestigious area the cost will be much higher - about 200,000 euros. A standard two-room apartment with an area of about 50 sq. m in a good area, with developed transport links and infrastructure will cost 120,000 euros. The transaction costs can be borne by both the seller and the buyer. Swedish realtors are flexible in their approach to business, allow bargaining for additional costs, and buyers of luxury real estate can expect a discount. Moreover, since the beginning of 2009 it is possible to register for a non-resident legal entity. There is no annual property tax in Sweden. The rental income is quite low - no more than 5%, and a non-resident will have to pay a tax of 30% from the profit received from the lease. At the same time, even property owners will not be able to stay in the country for more than 90 days a year, with the exception of business owners who are issued a business visa for up to 3 years. To the sound of a waterfall Harsh untouched nature, fjords, waterfalls, glaciers, the purest salmon rivers - all this makes Norway a country that looks like a fairy tale. However, for many reasons, owning your own house on the banks of the fjord is a difficult dream to achieve. “This country wants to see foreigners only as tourists,” says Elena Utyumova. The market economy in Norway is surprisingly well regulated by the government. Thus, a well-thought-out lending policy and the absence of unsecured loans kept the real estate market from a collapse in prices, and after a slight decline at the end of 2008, the official price index went up again - in the II quarter, the growth will be 5.3%, and this is 1.5% lower than a year earlier. For the purchase of real estate in Norway by foreigners - both individuals and legal entities - there are no restrictions. “The authorities prefer that the registration takes place in the name of a private person. In addition, Russians experience a certain psychological barrier when registering real estate for a company, ”says Igor Indriksons. A small cottage by the fjord will cost 200,000 euros. Cost of 1 sq. m in the capital is 2,500-3,500 euros, so the best apartments cost more than 500,000 euros. In addition to the capital, the oil centers of Norway - Bergen and Stavanger, as well as Trondheim may be of interest to real estate buyers. The further from Oslo towards the coast of the Norwegian and Barents Seas, the lower the prices. The cost of registration is 3.75-5.7%, of which the services of a realtor range from 1-2.5% (by the way, they are subject to VAT at a rate of 24%). Property registration takes only one day. Visa rules in Norway are the strictest - ownership of real estate does not give the owner the right to a residence permit, and a visa can be obtained for a maximum of 1 month a year.
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