How Much Does a House Cost in Finland?

The Finnish real estate market is diverse, with costs influenced by location, property type, taxes, and ongoing expenses. Understanding these factors is key to purchasing a home in Finland. The market has seen prices stabilize or show modest changes, influenced by economic conditions and interest rates.

Average Property Prices Across Finland

Property prices in Finland exhibit considerable variation depending on the region and dwelling type. As of early 2025, the average sales price for second-hand dwellings nationwide was approximately €2,609 per square meter. New dwellings command a higher average price, around €4,954 per square meter.

The Helsinki Metropolitan Area, including Espoo and Vantaa, consistently records the highest property values. In Helsinki, the average price per square meter for apartments is approximately €5,000, though city center locations can reach €7,601 per square meter. Areas outside the city center typically have average prices around €4,529 per square meter for apartments.

Other major Finnish cities also show distinct price levels. In Tampere, the average rent per square meter was €17.00 for non-subsidized dwellings. Turku’s average housing share price per square meter for existing apartments was around €2,444, while Oulu’s was approximately €2,210. Rural areas and smaller municipalities generally offer significantly lower property prices. For instance, a €250,000 studio apartment in Helsinki city center might cost €65,000 in Oulu.

Prices for different property types also vary. Apartments in housing companies are a common form of ownership, while detached and terraced houses present different price points. In July 2025, prices of old dwellings in blocks of flats across Finland decreased by 1.1% year-on-year, and terraced houses saw a 0.4% decrease. These figures are averages, and actual prices can differ based on market conditions and property characteristics.

Key Factors Influencing Property Costs

Location is a primary determinant of property cost in Finland. Major urban centers like Helsinki, Tampere, and Turku typically have higher prices due to demand, infrastructure, and proximity to services. Conversely, properties in more remote or rural areas are generally more affordable. The desirability of specific neighborhoods, influenced by factors such as public transportation, local schools, and green spaces, also impacts property values.

Property type also plays a substantial role in its cost. Apartments, particularly those in housing companies, are a common and often more accessible entry point, especially in urban areas. Detached, semi-detached, and terraced houses typically command higher prices, primarily due to larger plot sizes and increased privacy. The size of the property, measured by square footage and rooms, directly correlates with its price.

Age and condition are important considerations influencing a property’s valuation. Newly constructed homes often feature modern amenities, energy efficiency, and no immediate need for major renovations, justifying a premium price. Older properties, while more affordable upfront, may require significant investment in renovations to meet contemporary standards. For detached houses, plot features like a private garden, waterfront access, or a sauna add considerable value. Integrated amenities like balconies, parking spaces, and building services for apartments also contribute to the final price.

Understanding Additional Expenses of Property Ownership

Beyond the initial purchase price, acquiring and owning property in Finland involves additional expenses. A significant one-time cost is the transfer tax, which the buyer pays. As of January 2024, the transfer tax rate for real estate and buildings is 3% of the sales price. For shares in a housing company or real estate company, the transfer tax rate is 1.5%. This tax must be paid within a specified period, usually within two months for housing company shares or six months for land acquisitions.

Notary and legal fees are also part of the acquisition process. While conveyancing can be handled by real estate agents and banks, engaging a local lawyer is advisable for due diligence and contract review. Legal fees can range from 0.2% to 1% of the sale price. Mortgage-related costs may include loan origination or appraisal fees, though specific amounts vary by lender.

Ongoing ownership costs include the annual property tax, known as “kiinteistövero.” This municipal tax is based on the property’s taxable value, which local tax authorities determine, typically around 70% of the previous year’s market value. The tax rate varies by municipality and property type, ranging from 0.41% to 2% of the cadastral value. For permanent residential buildings, the rate is often between 0.41% and 1.00%.

Utility costs are a regular expense. For an 85 square meter apartment, basic utilities such as electricity, heating, cooling, water, and garbage average €122 to €126 per month. For apartments, a monthly maintenance fee, known as “hoitovastike,” covers building maintenance and running costs, averaging about €4.50 per square meter. Home insurance is a necessary ongoing expense.

Finding Current Market Values

For current market value information on properties in Finland, several reliable resources are available. Online real estate portals serve as platforms for property listings and provide a snapshot of asking prices. Popular Finnish websites include Etuovi.com and Oikotie.fi, which feature databases of properties for sale and rent. These platforms allow users to filter searches based on location, property type, size, and price to assess market conditions.

Official statistics provide aggregated data and price trends, offering a broader economic perspective on the housing market. Statistics Finland (Tilastokeskus) is a source for such information, publishing regular reports on dwelling prices, sales volumes, and housing conditions. These reports include average prices per square meter for different dwelling types and regions, useful for understanding market movements. The National Land Survey maintains a real estate purchase price register, from which Statistics Finland compiles data on single-family house prices.

Real estate agents are valuable sources of local market knowledge and provide detailed valuations for specific properties. Agents, known as “Kiinteistönvälittäjä” in Finnish, offer services such as property valuations, marketing, and contract negotiation. They possess insights into micro-market trends, recent sales data, and factors that influence property values. Engaging with a local real estate agent offers personalized guidance on current market values and assists in understanding pricing nuances.