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How to Buy an Apartment in Finland

The Complete Guide for Newcomers

A comprehensive guide explaining everything you need to know about the Finnish housing market. From key concepts to a detailed cost calculator, we've got you covered.

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Key Concepts Explained

In Finland, you buy shares in a housing company, not just walls. Understand these terms to navigate the market like a pro.

Choosing an Apartment: What to Look For

Location
Check public transport, schools, shops, and services.
Building Year & Renovations
Look at the 'isännöitsijäntodistus' for past and upcoming renovations (putkiremontti, julkisivuremontti).
Land Ownership
Is the land owned ('oma tontti') or rented ('vuokratontti')? Rented land can mean future increases in maintenance fees.
Heating System
District heating ('kaukolämpö') is common and stable. Electric heating can be expensive. Geothermal ('maalämpö') is cost-effective and green.
Amenities
Check for a balcony, elevator, sauna (private or communal), parking space, and storage units.

Interactive Cost Calculator

Fill in the details to get a complete picture of your monthly expenses and total investment.

Enter 0 if there is no loan share.

Average is ~€0.15/kWh

Your Estimated Costs

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Heating System Comparison

Heating is a major part of your monthly costs. Here's a comparison of common systems in Finland.

TypeCostProsCons
Kaukolämpö (District heating)
€€
Reliable, stable price, maintenance-free.Centralized, not available everywhere.
Sähkölämmitys (Electric heating)
€€€€
Low installation cost, individual control.Very high running costs, sensitive to electricity price fluctuations.
Maalämpö (Geothermal heating)
€
Very low running costs, environmentally friendly.High installation cost (usually covered by housing company).
Öljylämmitys (Oil heating)
€€€
Can be effective for older, large houses.Price volatility, environmental impact, being phased out.

Common Pitfalls & Hidden Costs

Avoid expensive surprises by knowing what to look for.

Upcoming Renovations ('Tulevat remontit')
Always check the 5-year plan. A pipe renovation ('putkiremontti') can cost €500-€1,500 per square meter. For a 50m² apartment, this means a one-time cost of €25,000-€75,000 or a significant increase in your monthly 'rahoitusvastike' for years.
Rented Land ('Vuokratontti')
If the housing company rents the land, the lease agreement can expire. The landowner can then increase the rent significantly, leading to a sharp, permanent increase in your 'hoitovastike'. For example, a monthly fee could jump from €200 to €400.
Old Houses (pre-1994)
Buildings constructed before 1994 may contain asbestos, which is expensive to remove during renovations. Also, be aware of original plumbing and electrical systems nearing the end of their 50-year lifespan.
Misreading the Documents
Learn to read the 'Isännöitsijäntodistus' (property manager's certificate) and minutes from company meetings ('yhtiökokous'). They contain vital information about the building's condition, debts, disputes, and upcoming repairs.

The Buying Process: Step-by-Step

1

1. Get a Loan Promise ('Lainalupaus')

Before you start looking, get a preliminary loan decision from a bank. This shows you're a serious buyer and defines your budget.

2

2. Find an Apartment

Use online portals like Oikotie.fi and Etuovi.com. Attend public viewings or schedule private ones.

3

3. Make an Offer ('Tarjous')

Your offer is usually binding. It includes the price, date of transfer, and any conditions (e.g., pending kuntotarkastus - condition inspection).

4

4. The Deal ('Kaupanteko')

The final transaction happens at your bank, with the seller and real estate agent. You sign the deed of sale ('kauppakirja').

5

5. Pay Transfer Tax ('Varainsiirtovero')

For first-time buyers aged 18-39, this tax is often waived on the first property. Otherwise, it's 1.5% of the debt-free price for apartment shares, paid after the deal.

6

6. Get Your Keys

Congratulations! Once the deal is signed and money is transferred, the apartment is yours.

Checklists & Resources

Pre-Purchase Checklist
  • Read the Isännöitsijäntodistus carefully.
  • Check the 5-year renovation plan.
  • Verify land ownership (oma/vuokratontti).
  • Understand all components of the yhtiövastike.
  • Visit the apartment at different times of day.
  • Ask about the parking situation.
Useful Links

Oikotie.fi

Largest real estate portal.

Visit

Etuovi.com

Another major real estate portal.

Visit

Veronmaksajat.fi

Taxpayers' Association, info on taxes.

Visit

Asumisoikeus.fi

Information on right-of-occupancy housing.

Visit