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Finland – Buying Property

Ownership and Sale of Property by Foreign Nationals in Finland

Foreign nationals are legally allowed to own and purchase property in Finland, without any specific legal restrictions. However, it is advisable to hire a local lawyer to assist with the process of buying property in Finland.

Average Property Prices

The average property prices in Finland vary depending on the location and condition of the property. Prices in major cities such as Helsinki, Espoo, and Vantaa tend to be higher than in smaller towns and rural areas. Prices can range from as low as $50,000 for a small apartment in a rural area to over $500,000 for a luxury apartment in Helsinki.

Popular Locations

The most popular locations to buy property in Finland include the capital city, Helsinki, which offers a mix of modern amenities and historical sites. Other popular cities include Espoo, Vantaa, and Turku. The coastal towns of Rauma and Turku are also popular choices among foreign buyers, as they offer beautiful beaches and a relaxed lifestyle. The province of Lapland is also a popular option among foreign buyers, with its beautiful natural scenery and winter activities.

Upcoming Areas

In recent years, the cities of Tampere and Oulu have become increasingly popular among foreign buyers, thanks to their growing expat communities and proximity to Helsinki. The city of Jyväskylä is also an upcoming option, with a beautiful old town and a growing tourism industry.

Property Market Trends

The property market in Finland has seen steady growth in recent years, with an increasing number of foreign buyers looking to purchase property in the country. Many of these buyers are attracted by the high standard of living, friendly local communities, and the potential for rental income.


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Investment

Buying property in Finland can be a good investment, particularly in areas that are experiencing strong growth in tourism. However, it is important to do your research and to work with a local lawyer or real estate agent to ensure that you are making a sound investment.

Common Property Types

The most common property types in Finland include apartments, townhouses, detached houses, and villas. There are also a large number of plots of land available for purchase, particularly in rural areas. Additionally, there are a number of luxury villas and condos available in Finland, particularly in coastal and tourist areas.

Typical House Buying Procedure in Finland

  1. Surveys and inspections: Before making an offer on a property, it is recommended to have a building inspection and a termite inspection.

  2. Making an offer: Once you have found a property that you are interested in, you can make an offer to the seller through a real estate agent or directly.

  3. Notary: A notary is needed in Finland to verify the sale of a property. The notary will conduct a title search to ensure that the property is free of any liens or encumbrances.

  4. Exchange of contracts: Once the offer has been accepted, the buyer and seller sign a sales contract. The contract is then registered with the Finnish Land Registry, and the sale is considered binding.

  5. Closing: After the contract has been registered, the buyer pays the purchase price to the seller and takes possession of the property.

Finding a Reputable Lawyer

  1. Professional organizations: Lawyers in Finland are required to be members of the Finnish Bar Association. You can find a list of lawyers in your area on the association’s website (https://www.asianajajaliitto.fi/en/find-a-lawyer/).

  2. Cost: Lawyers charge different fees, typically hourly rates. It’s recommended to get an estimate of the cost before starting the process.

Pitfalls and Problems

  1. Language barrier: Some expats may encounter language difficulties when dealing with legal documents and procedures.

  2. Taxation: Expats should be aware of the tax implications of buying property in Finland.

Purchasing Property Through a Companyin Finland

  1. It is possible to purchase property through a company in Finland.

  2. It may be desirable to purchase property through a company in certain situations, for example, for asset protection or tax planning purposes.

  3. It’s important to consult a lawyer before making a decision to purchase property through a company.


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