Tranio conducted its eighth annual survey, analysing the investment and property purchasing patterns of Russian and CIS nationals abroad. The survey was primarily focussed on income property, looking at the top locations for investment, yield expectations, budgets, and preferred asset classes, as well as the general presence of Russian-speaking investors in local markets.
In 2000, Finland lifted restrictions on all property acquisitions by foreign citizens excluding farmland and it generally only takes two weeks to finalize a transaction.
In Finland, costs for maintenance start at €1,000 for an apartment or holiday home. According to Pellervo Taloustutkimus, a Finnish think tank, property maintenance will gain 3.1% on average per year up to 2017.
Income and corporate taxes in Finland are relatively high. The annual real estate tax rate depends on whether the owner has their permanent residence in Finland.
Finland offers favourable mortgage terms to foreign nationals; however, some banks will only provide loans to borrowers with permanent residence permits (pysyvä oleskelulupa) or who have guarantors with Finnish citizenship.
Finland is a popular real estate destination for its neighbours from Scandinavia and Russia. They favour apartments in large Finnish cities, such as Helsinki, Tampere and Turku, as well as homes in the picturesque regions of Lapland and Lakeland.
Kirill Schmidt, Head of Financial Services at Tranio, explains how low and negative mortgage rates work around the globe.
Money is flooding into European commercial property markets. This article by Tranio expert, Yulia Kozhevnikova, reviews the top trends, destinations and segments to look at this year.
Most overseas property buyers are over 55 and already planning real estate succession before they sign the sales contract.
Russian buyers still dream of a second home overseas. Read on to discover the country’s top 10 locations in 2015.
Buyers often wonder whether real estate agents are necessary when buying property. At Tranio, we truly believe they are. Read on to find out why.
In Europe, no law prohibits foreign citizens from buying property but certain countries have put limitations on this right.