Finland (FI)

Finland is a Nordic parliamentary republic in Northern Europe, bordering Sweden, Norway, and Russia, with a southern coastline on the Gulf of Finland.

Capital: Helsinki

Region: Europe

Language: Finnish

Currency: EUR (€)

Cost of living: Expensive (index 76)

Emergency: 112

Buying Property in Finland

The full buying process, transaction costs, mortgage, and legal requirements.

Finland has two types of residential property ownership: (1) Osakehuoneisto (apartment share ownership) — most Finnish apartments are technically owned by a housing company (asunto-osakeyhtiö / taloyhtiö); you buy shares in the company that entitle you to occupy a specific apartment. The taloyhtiö owns the building and land, and you pay monthly yhtiövastike (maintenance charges). (2) Omakotitalo (detached house / single-family home) — you own the building and typically the land (or hold a long-term ground lease). The Finnish property market uses notarisation less than most of Europe — a private purchase agreement (kauppakirja) combined with registration at Maanmittauslaitos (National Land Survey) is standard. EU and EEA citizens can freely purchase all types of property in Finland. Non-EU/EEA citizens generally buy freely, though some agricultural and forest land purchases may require permits. Note: Ahvenanmaa (Åland) has additional restrictions — non-residents of Åland require a hembygdsrätt (right of domicile) to own real estate there.

Rent vs. Buy

Finnish mortgage interest rates have risen significantly since 2022 (Euribor-linked variable rates peaked above 4% in 2023–2024, settling around 3% in 2026). Monthly mortgage costs for an average Helsinki apartment may now equal or exceed comparable rent. Buying makes more long-term sense for those staying 5+ years, building equity, and wanting stability. The asunto-osakeyhtiö structure means apartment shareholders pay monthly yhtiövastike (maintenance fees: €100–400/month) covering building management, heating, water, and capital improvements — factor this into your calculation. Outside Helsinki, property prices are significantly lower and the buy case is typically stronger. Tampere and Turku offer good value at €2,000–4,000/m².

Buying Process — Step by Step

1. Get mortgage pre-approval (lainapäätös)

1–2 weeks for mortgage pre-approval

Finnish banks (OP, Nordea, S-Pankki, Danske Bank, Handelsbanken) offer mortgage pre-approval. Required deposit: typically 10% minimum for residents; 20% or more for non-residents. Fixed-rate terms of 5 or 10 years and variable Euribor-linked rates both available. Banks assess income, credit history (luottotiedot), and employment stability. Non-EU citizens: having a Finnish personal identity code (HETU/henkilötunnus) significantly simplifies the process.

2. Find a property

Variable — competitive market especially in Helsinki

Search on Oikotie Asunnot (asunnot.oikotie.fi) or Etuovi.com, or through a licensed real estate agent (LKV — Laillistettu Kiinteistönvälittäjä). Attend apartment viewings (asuntonäyttö). New construction: buy directly from developer under the RS-kohde consumer protection system which holds buyer deposits in escrow until completion.

3. Due diligence

1–2 weeks

Request key documents before making an offer: yhtiöjärjestys (housing company articles), taloyhtiön tilinpäätös (annual accounts), taloyhtiön kuntoarvio or PTS (condition assessment and maintenance plan), isännöitsijäntodistus (building manager certificate — shows outstanding loans, upcoming major repairs, and monthly charges). Commission an independent kuntotarkastus (property condition inspection) — strongly recommended for detached houses and older apartments.

4. Sign the purchase agreement (kauppakirja)

1–5 days to negotiate and sign

Finnish property transactions do not require a notary (notaari) for the purchase contract. The kauppakirja (purchase contract) is a private written agreement signed by both parties. Must include: full property details, price, payment schedule, handover date, and conditions. For apartment shares: the seller's LKV agent typically prepares the contract. Ensure the agreement is conditional on mortgage approval if financing.

5. Pay the property transfer tax (varainsiirtovero)

Within 2 months of signing kauppakirja

IMPORTANT — rates changed from 1 January 2024: Apartment shares (asunto-osakkeet in a housing company): 1.5% of the debt-free purchase price (includes the share of housing company loan). Detached houses and real property (kiinteistö): 3% of purchase price. Note: the first-time buyer transfer tax exemption was ABOLISHED from 1 January 2024 — it no longer applies regardless of age. Pay via MyTax (OmaVero) at vero.fi within 2 months of signing the kauppakirja.

6. Register ownership

1–4 weeks for registration

Apartment shares: the share ownership transfer is recorded in the housing company's sähköinen osakeluettelo (electronic share register) by the real estate agent or seller. Since 2019, electronic share registers have replaced physical share certificates — the agent submits the registration. Detached houses and real property: register at Maanmittauslaitos (National Land Survey — mml.fi) for lainhuuto (title registration). Title registration fee: approximately 0.04% of purchase price. Apply for lainhuuto within 6 months of signing.

7. Move in and update DVV address

Within 7 days of moving in

Register your new address at DVV (Digi- ja väestötietovirasto — dvv.fi) within 7 days of moving in (legal requirement). Notify your bank, Kela, Vero (tax authority), and employer of your new address. Inform the taloyhtiö (housing company) and its isännöitsijä (building manager) of your ownership.

Transaction Costs

Cost Item	Amount	Notes
Property transfer tax (varainsiirtovero) — apartment shares (asunto-osakkeet)	1.5% of the debt-free purchase price	Rate changed from 2% to 1.5% on 1 January 2024. Calculated on the total debt-free price including the share of housing company loan (yhtiölaina). No first-time buyer exemption from 2024.
Property transfer tax (varainsiirtovero) — real estate / detached house (kiinteistö)	3% of purchase price	Rate changed from 4% to 3% on 1 January 2024. Applies to land, houses, and real property. No first-time buyer exemption from 2024.
Real estate agent commission (välittäjänpalkkio)	2–3.5% of purchase price	Paid by the seller in most Finnish transactions. If you hire a separate buyer's agent, their fee is paid by the buyer.
Mortgage arrangement fee	€500–1,500 (varies by bank)	Compare across OP, Nordea, S-Pankki, and others. Some banks offer reduced or waived fees during promotions.
Property condition inspection (kuntotarkastus)	€300–800	Strongly recommended for detached houses and older apartments. Commissioned from a FISE- or AKK-certified inspector.
Title registration (lainhuuto)	Approximately 0.04% of purchase price	Only for real property (kiinteistöt) — not required for apartment shares. Applied for at Maanmittauslaitos within 6 months.
Monthly housing company charge (yhtiövastike)	€100–400/month typical for Helsinki	Ongoing cost for apartment shareholders — covers building management, water, heating, maintenance reserves, and repayment of housing company loans. Request the isännöitsijäntodistus to see exact amounts before buying.
Legal advice (tarvittaessa)	€150–500 for standard review	Not required for standard purchases but useful for complex cases, new-build developer contracts, or expats unfamiliar with Finnish law.

The Notary — Mandatory for All Purchases

Unlike most European countries, Finland does NOT require a notary (notaari) for property transactions. The kauppakirja (purchase agreement) is a private written document. For apartment shares (asunto-osakkeet), the licensed real estate agent (LKV) typically manages the transaction and prepares the kauppakirja. For real property (kiinteistöt), the seller or agent prepares the kauppakirja. A lawyer is not legally required but can be engaged for complex cases. Title registration (lainhuuto) at Maanmittauslaitos confirms legal ownership of real property.

Mortgage

Finnish mortgages (asuntolaina) are primarily variable-rate Euribor-linked loans. Most use 3-month or 12-month Euribor plus a bank margin (typically 1.0–1.5%), giving total rates of approximately 3.0–4.5% in 2026. Fixed-rate mortgages are available for 5, 10, or 25 years at slightly higher initial rates but with more payment predictability. The Finnish mortgage market is competitive — compare offers from OP, Nordea, S-Pankki, Handelsbanken, Oma Säästöpankki, and others. The ASP (Asuntosäästöpalkkiojärjestelmä) first-home savings scheme offers tax-advantaged savings and favourable mortgage terms for first-time buyers.

Typical Deposit Required

10–20% for most buyers. Minimum 10% is common for residents with stable Finnish income. Non-residents and non-EU buyers may face higher deposit requirements (20–30%). Note: the first-time buyer transfer tax exemption was abolished from 1 January 2024, but the ASP savings scheme continues to offer favourable mortgage bonuses for qualifying first-time buyers.

For Foreign Buyers

EU/EEA citizens have equal rights to buy property in Finland as Finnish citizens — no restrictions. Non-EU citizens can generally buy property freely, though some agricultural and forest land purchases may require permits. Having a Finnish personal identity code (HETU/henkilötunnus) is very helpful — it streamlines mortgage applications, banking, and DVV registration. Non-residents buying Finnish property are subject to Finnish property transfer tax at the same rates as residents. Åland (Ahvenanmaa): non-residents of Åland require a local right of domicile (hembygdsrätt) to purchase real estate — additional restrictions apply.

Recommended Lenders & Brokers

OP (Osuuspankki) — largest mortgage lender in FinlandNordeaS-PankkiDanske BankHandelsbankenPOP PankkiOma Säästöpankki

Land Registry

Maanmittauslaitos (National Land Survey of Finland — mml.fi) maintains the land register (kiinteistörekisteri) for all real property (kiinteistöt). Apartment shares (asunto-osakkeet) are registered in the sähköinen asunto-osakerekisteri (electronic apartment share register) — a phased migration from paper share certificates started in 2019 and is ongoing. Search property details at kiinteistotietopalvelu.fi. The kiinteistörekisteriote (land register extract) confirms ownership, encumbrances, and restrictions on real property. Request from Maanmittauslaitos online.

Taxes

Property transfer tax (varainsiirtovero): 1.5% for apartment shares, 3% for real property — both rates effective from 1 January 2024 (reduced from previous 2% and 4%). The first-time buyer exemption was abolished from 1 January 2024. Annual property tax: kiinteistövero paid by property owners (not apartment shareholders) — typically 0.93%–2.0% of assessed value annually (rates vary by municipality and property type). Apartment shareholders pay yhtiövastike monthly instead of direct property tax. Capital gains from property sale: 30% for gains up to €30,000; 34% for gains above €30,000. Primary residence exemption: gain from selling your primary residence is tax-exempt if you have lived there for at least 2 years before sale. Non-resident sellers: withholding tax rules apply — consult Vero (vero.fi).

New Build vs. Existing Property

New construction (uudisrakentaminen): typically sold via the RS-kohde consumer protection system, which holds buyer deposits securely until project completion. Purchase agreement signed with developer before construction completes. VAT is included in new-build prices (currently at 10% on residential construction from September 2024 following the VAT rate reform — verify at vero.fi as rates changed in 2024–2025). The transfer tax on new-build apartment shares remains 1.5% (on top of VAT-inclusive price). Existing apartments: no VAT, but varainsiirtovero at 1.5% applies. New builds offer modern energy efficiency and warranties; existing properties typically offer better central locations and lower total prices per m².

Selling Property

Commission a licensed LKV real estate agent for the best result — find agents via kvkl.fi. Energy Performance Certificate (energiatodistus) required for all property sales — commission from a certified assessor (~€100–200). Property sold via private kauppakirja — no notary required. Capital gains: 30% on first €30,000 profit, 34% above. Primary residence (2+ years) is exempt. Agent commission (2–3.5%) is a deductible selling cost when calculating the gain.

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