The economy of Finland is the only one among the Scandinavian countries of the Republic which has always been remarkable for its enviable constancy. It is a stable and safe country. Those who already know the country buy real estate whether it is an apartment in Helsinki or a wooden house on the shores of one of the countless lakes.
According to official data the average housing prices in Finland began to decline in the middle of last year, but in the second quarter of 2009, there was an increase again. Compared to the same period in 2008, prices on the secondary market decreased by 2.8%. At the same time, the prices for new buildings continue to decline slowly by 4.5% in the annual change.
As for Helsinki, the capital’s property prices are not low. At the same time, the choice is very diverse – from standard apartments in low-rise blocks to spacious apartments. The costs range from 3000 to 6000 euros per 1 sq.m. Spacious apartments with a fully equipped kitchen may cost about 1 million euros. The undoubted advantage of buying real estate in Finland is that the annual property tax is less than 1%.
A small apartment in Stockholm may be purchased for 50 000 euros, but in a prestigious area, the cost will be much higher – about 200 000 euros. Standard two-bedroom apartment of about 50 square meters in excellent area with developed transport links and infrastructure will cost 120 000 euros. Cost of 1 sqm in the capital is 2500-3500 euros and for luxury apartments, one will have to pay 500 000 euros. In addition to the capital, oil centers of Norway – Bergen, and Stavanger, as well as Trondheim may be of interesting to buyers of reality.
There is no annual property tax in Sweden. The income from renting is quite low (no more than 5%). A non-resident will have to pay a tax of 30%from the profits received from the lease. At the same time, even property owners will not be able to stay in the country for more than 90 days a year, with the exception of business owners who have a business visa for up to 3 years.