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.
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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.