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Housing in Finland

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Buying a Property

Buying a property in Finland is relatively quick and easy as the house-buying process has been simplified in recent years. Although it is advisable to use a lawyer to oversee the purchase of a property, this is not necessary, since banks and estate agents will deal with the legal processes on your behalf.

Foreign nationals are allowed to buy property in all areas of Finland, except for the Province of Ahvenanmaa, without having to obtain permission to do so. Mortgages are usually available for up to 75% of the value of the property, with flexible repayment options. People with home loans can qualify for reduced income taxes.
However, for foreign nationals who are living in Finland on a temporary basis, it may not be worthwhile buying property, since property-related taxes are high and house prices have been unstable over the past two decades.

Prices for property are usually around Euro 80,000 for a city apartment, around Euro 95,000 for a small property in a rural area and around Euro 150,000 for a larger property. Accommodation in Finland tends to be fairly small, with an average floor area of 77 m². Houses and apartments are generally built and fitted to a high standard, with double or triple glazing, central heating and fitted kitchens provided as standard. Around 50% of dwellings have a private sauna.

Renting a Property

Popular areas for the expatriate community are Helsinki, Oulu, Tampere and Turku.

The rental markets in Finland are small. There are far more possible tenants than available rental properties, and the prices keep increasing. Especially renting a furnished or a larger apartment can be difficult. The rental availabilities in the main areas are of course the largest, but the prices are also higher than in for example Oulu and Tampere.

Because of the long cold winter and high heating expenses with imported oil/electricity Finnish apartments and houses are relatively small. Typical 1 bedroom + kitchen is about 45-60 m²,(430-645 ft²) and 2 bedrooms + kitchen around 60-80m² (645-861 ft²). Again because of the winter, the building style is very heat-effective with double or triple glazed windows and good insulation in walls, floors, and ceilings.

Depending on the area and the size of the apartment, cost of housing varies from Euro 700-Euro 3,500 and higher.





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