Property in Finland
Finland. Supplemental information
Property selections in Finland
Finland. General information about the market
The real estate market in Finland remains one of the most stable in Europe. The 10-year dynamics of housing prices fluctuate on average by 1.5-3% per annum. The maximum decrease in prices during this period was observed in the IV quarter of 2008, when real estate prices in Finland fell by 4.3% compared to the previous quarter. However, in early 2009, the trend of rising prices.
The dynamics of prices in percent according to Statistics Finland.
Construction activity in Finland, on the contrary, decreased: in 1990, the commissioning of the order of 65,000 residential units, after 2010 year built about 30 000 housing units.Popular regions and prices
The biggest demand is for real estate in the capital of Finland - Helsinki, in the largest cities of the country Espoo, Tampere, Turku and Vantaa, as well as in Lapland and on the banks of the many Finnish lakes.
Cost per square meter on average in the country varies between 2600-4300 euros. In Helsinki the figure is much higher - 3600-6300 euros per "square". In Rovaniemi, Lapland's administrative center, 1 sq. m worth ˆ 1500-2100.
The highest rental rates for housing marked in Helsinki - 18-25 euros per 1 square. m / month. The national average rent is about EUR 12/1 sq. m (ˆ 12,5 - private rents and ˆ 10.7 at subsidized rent by the government).
The process of buying and mortgages
Finnish legislation does not impose any restrictions on the purchase real estate by foreigners. An exception is the only property in the archipelago of land, to purchase a non-resident must request permission from the authorities.
Over the past two decades, the mortgage market has grown considerably in Finland. If in 2000, a little more than ˆ 20 billion, but now this figure to the amount of mortgage loans were issued in the country tends to ˆ 100 billion for the year.
The minimum rate of mortgage lending was recorded in December 2013 (1.97%), and the maximum - in October 2008 (5.53%). Now a mortgage for the purchase of new buildings can be obtained by 2.8-3.2% per annum.
Taxes and fees when buying real estate in Finland
Related costs when buying property reach 7.5-10%. Buyer pays tax on transfer of ownership (4%) and the registration fee (0.05%). On Seller shoulders rests payment realtor commission (3-5% + VAT of the amount of commissions). At the beginning of 2016 the Finnish government decided to increase the property tax in the 2017-2019 biennium. Income from property rental is taxed at progressive rates from 30% to 32%.