How to buy property in Finland as an immigrant — mortgage, process, costs, renovation checks, and practical tips.
Get a realistic bank budget before making an offer. Decide whether you are buying a housing-company share or real estate. Check the building's repair history and future renovation plans, inspect the home carefully, confirm all documents, make a conditional written offer, complete the deed of sale, pay transfer tax, and register ownership where required.
In general, people can buy an apartment or house in Finland regardless of whether they are Finnish citizens. A bank will separately assess your income, residence situation, credit history, savings, collateral, and ability to repay the mortgage.
If you are a citizen of a country outside the European Union or European Economic Area, you may need a permit from the Ministry of Defence to buy real estate. This usually concerns a house together with its land or a separately registered plot. The permit is based on nationality, so a permanent residence permit does not by itself remove the requirement. A permit is generally not required to buy shares in a Finnish housing company, such as an ordinary apartment in a block or terraced house.
Ask the bank, estate agent, and Ministry of Defence about your exact situation before signing anything. The rules for Åland are separate.
In a Finnish apartment building or terraced-house company, you normally buy shares in a housing company. The shares give you the right to control a specific apartment, while the housing company owns the building. When you buy a detached house with its plot, you normally buy real estate. The documents, taxes, registration, and buyer responsibilities are different.
Do not judge a home only by the photographs, surface renovation, or asking price. A low purchase price can hide a large housing-company loan, a leased plot, expensive repairs, poor energy performance, or drainage and moisture risks. Complete the checks below before you make a binding commitment.
| Check before buying | What to ask or verify |
|---|---|
| Future renovations | Has the housing company or owner planned pipework, roof, façade, windows, balconies, drainage, electrical systems, lifts, heating, or ventilation renovations? Ask for the repair plan, timetable, estimated cost, and your apartment's share. |
| Completed renovations | When were the plumbing, bathroom waterproofing, roof, windows, façade, heating, electrical systems, and drainage last renewed? Ask for permits, invoices, inspection reports, and certificates. |
| Housing-company debt | Check the apartment's share of company loans and whether the advertised price is the sale price or the debt-free price. A low sale price may come with a large monthly financial charge. |
| Monthly costs | Calculate maintenance charge, financial charge, water, electricity, parking, sauna, internet, insurance, property tax, waste collection, and heating. |
| Condition and moisture | Inspect bathrooms, kitchens, basements, roofs, foundations, ventilation, windows, and visible pipework. Ask about leaks, mould, radon, flooding, and insurance claims. |
| Land and zoning | For a house, check whether the plot is owned or leased, the lease expiry and rent, property boundaries, easements, building rights, zoning, and possible nearby construction. |
| Energy and heating | Check the energy certificate, annual electricity or heating use, heating system, expected service life, and the cost of replacing or maintaining it. |
| Legal documents | Verify ownership, encumbrances, mortgages, building permits, final inspections, floor area, plot details, and that the seller has the right to sell. |
| Resale and location | Check transport, schools, services, noise, flood risk, local plans, demand, and how easily the home could be rented or sold later. |
This is one of the most important checks when buying a used apartment. Ask the estate agent or seller for the current isännöitsijäntodistus (manager's certificate), financial statements, budget, articles of association, latest shareholders' meeting minutes, and the housing company's long-term repair and maintenance plan. Finnish documents may refer to the plan as a PTS or kunnossapitotarveselvitys.
Read both the completed repairs and the proposals for the next few years. A plan is not always a final decision, but it signals possible future costs. Confirm whether a renovation has already been decided, is under design, is being tendered, or is only a preliminary estimate.
For a detached house, ask for the complete repair and maintenance history. Check the roof, foundation drainage, exterior walls, wet rooms, heating system, chimney, wells, septic systems, wastewater, electrical installations, and outbuildings. A professional condition inspection is particularly useful for a first-time buyer, but a standard inspection cannot reveal every hidden defect.
A condition inspection gives information about condition, risks, and likely future repairs. It does not guarantee that hidden moisture or structural defects will be found. If a report identifies a risk, arrange a more specific survey before buying or make the offer conditional on satisfactory results.
| Purchase type | What you own | Key checks |
|---|---|---|
| Apartment in a block or terraced house | Shares in a housing company that give you control of the apartment. | Manager's certificate, company debt, maintenance charge, renovation plan, company finances, articles of association, and apartment condition. |
| Detached house with owned land | Real estate, including the building and plot. | Title, mortgages and encumbrances, cadastral extract, boundaries, zoning, permits, drainage, heating, roof, foundation, and condition. |
| House on leased land | Usually the building and a lease right to the plot. | Lease owner, rent, expiry, renewal terms, transfer restrictions, purchase option, and how the lease affects resale and mortgage value. |
| New-build home | Shares or real estate depending on the project structure. | Developer, construction stage, debt-free price, separate housing-company loan, completion date, warranties, defects procedure, and estimated future charges. |
Contact several banks before you start viewing seriously. Request a preliminary financing decision, often called a loan promise or lainalupaus. It helps you understand your maximum budget and makes it easier to act within a short offer deadline.
The bank assesses stable income, employment or business income, existing debts, household expenses, savings, collateral, credit history, residence and tax information, and the property's value. A bank may request documents in Finnish, Swedish, or English, and may ask for translated or certified documents.
Do not budget only for the purchase price. Include transfer tax, bank and mortgage costs, an inspection, moving, immediate repairs, insurance, and a cash reserve. Test the budget with a higher interest rate and a higher maintenance charge. The Financial Supervisory Authority advises considering whether you could still manage the loan if interest rates rise or housing-company charges increase.
The standard housing-loan cap is generally 90% of the value of the collateral, while the cap for a first-home loan is generally 95%. The applicable cap and the bank's own collateral valuation are not the same as a promise that the bank will finance that percentage of the purchase price. You may need savings, additional collateral, or a state guarantee, and you still need to cover taxes and buying costs.
Keep an offer short and valid for a limited period, but do not rush past the document checks. A written offer should identify the home, price, payment terms, possession date, included fixtures, and the conditions that allow you to withdraw.
If mortgage approval is not final, include a clear financing condition. If you need a moisture survey, structural survey, or other inspection, include a condition stating what happens if the result reveals a material defect. Ask the bank or a lawyer to review important conditions before you sign.
For a housing-company share, cancelling an accepted offer may lead to a contractual penalty or loss of a deposit, subject to the applicable limit. A real-estate transaction for a house has different formal rules. Do not rely on a verbal agreement.
| Cost | What to know |
|---|---|
| Purchase price | The amount paid to the seller. For an apartment, also compare the debt-free price, which includes the apartment's share of housing-company debt. |
| Transfer tax | Currently 1.5% for shares in a housing or real-estate company and 3% for real estate and buildings. First-home buyers no longer have a general transfer-tax exemption for purchases made in 2024 or later. |
| Mortgage and bank fees | Origination, arrangement, collateral, registration, account, interest-rate protection, and possible guarantee costs. |
| Inspection and reports | Professional condition inspection, moisture survey, radon measurement, sewer inspection, or other specialist reports. |
| Estate-agent fee | Usually paid by the seller, but check the listing and agreement. A buyer's own legal or translation help costs extra. |
| Housing-company charges | Maintenance charge, financial charge, water, parking, and future renovation charges. |
| House ownership costs | Property tax, heating, electricity, water, waste, insurance, maintenance, chimney, road, snow, septic system, and repairs. |
| Immediate works and reserve | Keep money for locks, painting, appliances, moisture repairs, energy improvements, and unexpected defects. |
The Finnish Tax Administration currently lists transfer tax at 1.5% for housing-company and real-estate-company shares and 3% for real estate and buildings. The tax is calculated according to the applicable tax base, which can include the apartment's share of housing-company debt. Use the official Vero transfer-tax instructions and calculator.
For a housing-company share, the buyer generally files and pays the tax within two months of signing the contract if a broker is not handling the declaration. For real estate, tax must be paid before applying for registration of title. A buyer of real estate must generally apply for registration of title within six months of the transaction.
If the seller, agent, bank, or document cannot answer an important question clearly, treat that as a reason to pause. Ask for the answer in writing, obtain a professional opinion, reduce the offer, make the offer conditional, or walk away.
Arrange home insurance before the bank's deadline and before possession if required by the mortgage agreement. Transfer electricity and, for a detached house, check water, sewage, waste, chimney, road, and heating arrangements. Photograph the condition and meter readings on the handover day. Notify the housing company or property manager when required and learn the rules for renovations.
As the owner of an apartment share, you normally need the housing company's permission or advance notification for significant alterations. As the owner of a detached house, you are responsible for much more of the building, plot, structures, and systems. Check municipal building-control requirements before renovating.
Build a Finnish banking relationship early and ask what documents the bank needs from your country of origin. Keep employment contracts, payslips, tax records, residence documents, savings evidence, and debt information organised. If your income is paid in another currency or your employment is temporary, ask several banks because lending policies differ.
Do not assume that a Finnish residence permit guarantees mortgage approval. Do not assume that an English advertisement contains every relevant document. Ask for a Finnish-speaking or English-speaking professional when needed, and use an authorised translator or lawyer for documents you do not understand. Never sign a sale deed or pay a deposit that you cannot explain.
Read the Finnish Competition and Consumer Authority guidance on used apartments and its guidance on buying a single-family house. Check current tax rates with Vero. If you are outside the EU/EEA, read the Ministry of Defence permit guidance. For mortgage risk and the loan cap, see the Financial Supervisory Authority.