Finland is currently undergoing a positive time in real estate in that country. It’s very easy to buy real estate in Finland. One reason for this is because the costs involved with buying Finnish real estate are much lower than those in other European countries. Finland is considered to be one of the more highly advanced countries worldwide, particularly when it comes to asunnon myynti and asunnot. It’s ranked in the top 20 countries in Human Development Index of United Nations. It has also been ranked as the 11th best country to live in worldwide.
Finland real estate has experienced a figure growth of double digits at 11.2 percent in the first quarter of 2010 compared to the first quarter in 2009. This is the best that Finland has experienced in more than 10 years. Prices are 15 percent more in Helsinki, the capital city, currently than last year. Older homes and flats are now going for 2,071 Euros per square meter on average. In the portion known as Greater Helsinki, they’re selling for 2,169 Euros for these same types of dwellings.
Prices for these older homes and flats have increased as well as the newer block of flats. This price increase isn’t as high as the older homes but the prices on new dwellings have gone up 8.5 to 14.7 percent depending on where they’re located. Finland began showing recovery during 2010.
The biggest reason that Finland’s real estate is recovering is because of how their government dealt with the economic recession and crisis. Finland is heavily involved with exports and this had lent a strong hand to helping the economy stabilize. Anyone searching for international rentals probably doesn’t want to invest in Finnish real estate as there’s a very high tax levied on rentals. Rental yields are very low country wide, particularly in Helsinki. Finland’s average rental yield is 4.42 percent.
Therefore, it makes a lot more sense to purchase real estate in Finland because the transaction cost of buying is extremely low. International investors would do well to purchase real estate there now. Transfer time of the property is only 14 days.