Moving to Finland: Finding a Home in the Happiest Country

When moving to Finland, you can live in a rented home or in one you own, and the costs of each depend on the home, the housing company and your own situation, so there is no general answer as to which is cheaper. Owning a home in Finland is not in itself sufficient grounds for a residence permit or for citizenship. In the World Happiness Report 2026, published in March 2026, Finland ranked first for the ninth time in a row.

Moving to Finland and owning a home: what the Finnish Immigration Service says

According to the Finnish Immigration Service (Maahanmuuttovirasto, Migri): “Owning land, property, or shares in a housing company in Finland is not sufficient grounds for being granted a residence permit or a citizenship.” If you arrived here after searching for a “golden visa” or an “investor visa” for Finland, this statement sets out the Finnish Immigration Service’s position on owning land, property or housing company shares.

This article treats the home and the right to stay as two separate topics. It does not describe the grounds for residence permits, processing times or fees; the short notes below are the only points on residence that it covers.

EU, EEA and Swiss citizens

An EU, EEA or Swiss citizen can stay in Finland for three months without registration. The European Economic Area (EEA) includes Iceland, Liechtenstein and Norway in addition to the EU countries; Switzerland belongs to neither the EU nor the EEA but has bilateral agreements with the EU (situation on 5 October 2026).

Third-country nationals

A third-country national, meaning a citizen of a country other than an EU or EEA country or Switzerland, can make short stays in the Schengen Area (with or without a visa) of up to 90 days in any 180-day period. The limit applies to the Schengen Area as a whole. Whether a visa is required depends on nationality. The Finnish Border Guard’s travel FAQ and the European Commission’s short-stay calculator explain the rule.

Information on residence permits and the right to stay in Finland is available from the Finnish Immigration Service (Maahanmuuttovirasto, Migri).

Personal identity code and bank account: what official sources say

This section sets out what a Finnish authority and Finnish law say about two practical matters: the Finnish personal identity code and the basic payment account.

Personal identity code (henkilötunnus)

The requirements for a foreign national to obtain a personal identity code (henkilötunnus, Finnish personal ID number) should be checked in the current guidance of the Digital and Population Data Services Agency (DVV). Buying a home is not in itself one of the grounds that DVV lists. If the buyer does not have a Finnish personal identity code, the Finnish Tax Administration’s guidance says that they must register as a customer of the Tax Administration before the purchase and enter the artificial personal identity code they receive on the transfer tax return (see the transfer tax points in the section on buying below).

Basic payment account

Under the Finnish Credit Institutions Act, a deposit bank is required to offer a basic payment account and electronic identification to a person who lives lawfully in an EEA country. The Act does not guarantee this right to a person living outside the EEA.

If you still live abroad and are planning ahead, whether a Finnish bank will lend to you while you live abroad depends on the bank’s own discretion and on your ties to Finland. It is worth asking more than one bank.

How housing in Finland works: housing company shares or real property

Homes in Finland are usually bought in one of two forms, and the form affects the taxes, the registration and, for some buyers, whether a permit is needed.

A buyer of a flat in a block of flats or a terraced house usually buys shares in a housing company, and these shares give the right to occupy a specific flat. The housing company is called a taloyhtiö (housing company that owns the residential building), and the shares are called asunto-osake (shares giving the right to occupy a flat). The company owns the building, and the plot is either the company’s own or leased; in the latter case it is called a leased plot (vuokratontti, land leased rather than owned). A buyer of a detached house or a cottage usually buys real property (kiinteistö, a registered land parcel including its buildings), meaning the land and the buildings. The form of the sale, the taxes and the registration differ between the two.

This is why the word “owner” means something slightly different in each case. In a taloyhtiö, the shareholder holds shares and the right to occupy a flat, while the company owns the building. The shareholder pays the company a vastike (monthly charge paid to the housing company). A vastike is not rent: it is a charge paid by the shareholder to the company.

A separate article explains what a taloyhtiö is.

Finding a home in Finland: renting or buying?

The costs of renting and of owning a home depend on the home, the housing company and your own situation, so there is no general answer as to which is cheaper. This section therefore does not recommend either option. Instead, it lists the costs of owning a home that are set out in Finnish rules, which you can weigh against any rental offer you are considering.

If you rent

Flats in blocks of flats and terraced houses in Finland are usually housing company shares, so a rented flat may also be in a taloyhtiö. Since 1 October 2026, under an amendment to the Limited Liability Housing Companies Act (535/2026), a shareholder who lets their flat to someone else is required to have the necessary information about the person using the flat and to provide it to the housing company if the company makes a justified request. This obligation lies with the shareholder who lets the flat.

If you buy: costs at the time of purchase

• Transfer tax. The buyer pays transfer tax; the rates for housing company shares and for real property are in the table above.
• Debt-free price for housing company shares. For housing company shares, the tax is calculated on the debt-free price (velaton hinta, sales price plus share of company loan): the purchase price (and any other consideration) plus the share of the housing company’s loan allocated to the shares, under the conditions laid down in section 20 of the Transfer Tax Act. The company loan is called yhtiölaina (flat’s share of the housing company loan).
• No first-time buyer exemption. The first-time buyer’s exemption from transfer tax was abolished on 1 January 2024.

If you buy: ongoing costs

• Vastike in a housing company. A shareholder pays a vastike to the housing company. In the company’s documents you may see hoitovastike (maintenance charge covering running costs) and rahoitusvastike (charge for repaying the housing company loan).
• Real estate tax on real property. The owner of real property pays an annual real estate tax. The rate ranges set for 2026 are 1.30–2.00% for land and 0.41–1.00% for permanent residential buildings; for other residential buildings the range is 0.93–2.00%. The tax is paid for the whole year by the person who owns the property on 1 January. A tax of €170 (about £140 / $190) or more is automatically split into two instalments.
• Mortgage interest. In Finnish taxation, interest on a loan for your own home has not been deductible since tax year 2023.

Owning a home is not in itself sufficient grounds for a residence permit (see the first section). Whether a permit is needed for the purchase itself is explained in the next section.

If you want to buy: permits and costs in brief

The rules on buying depend on what you buy (housing company shares or real property) and on your citizenship. The step-by-step process is covered in Buying property in Finland as a foreigner.

Who needs a permit

Under Finnish law, a permit from the Ministry of Defence is required when real property is acquired by a person without EU or EEA citizenship or by an entity in which a party from outside the EU or EEA holds at least 10% ownership or corresponding influence. The permit concerns real property (for example, a detached house with its plot or a cottage property), not housing company shares. The law does not apply to Åland, which has its own land acquisition legislation: on Åland, acquiring real property, including a cottage property, usually requires a land acquisition permit from the Government of Åland (Ålands landskapsregering) if the buyer does not have the Åland right of domicile. According to the Government of Åland, buying housing company shares does not require a permit unless the company’s own land acquisition permit requires it. Åland’s rules differ from those of mainland Finland, and it is worth checking them with the Government of Åland (its land acquisition page is in Swedish).

For anyone who has already moved to Finland, one point matters in particular: a permanent residence permit does not remove the need for the Ministry of Defence permit outside Åland. Where the permit is required, the application is to be made within two months of the purchase. The fee is €210 (about £180 / $240) when paid online or €280 (about £240 / $320) when invoiced, per property unit identifier (2026). If the permit is not granted, the real property is to be transferred to someone else within six months of the decision becoming final. The law provides for certain exceptions.

According to the Ministry of Defence, no permit is needed if the buyer holds the citizenship of an EU or EEA country, even if they also hold the citizenship of another country.

A separate rule has applied since 15 July 2025: the Ministry of Defence does not grant a permit to acquire real property to a person whose only citizenship is Russian or Belarusian, or all of whose citizenships are Russian or Belarusian. Nor is a permit granted to an entity domiciled in those countries, or to an entity in which such parties hold a majority of the voting power (Act 470/2019, section 5a; Government Decree 840/2025). This restriction does not apply to a person who, both at the time of the acquisition and when the permit application becomes pending, holds a valid permanent residence permit for Finland or a permanent EU residence permit issued by Finland. This exception concerns only the Russia and Belarus restriction. The list of countries may change.

Costs of buying

• Transfer tax. The rates are in the table in the section on how housing works, and the buying guide linked above explains when the tax is paid.
• Without a Finnish personal identity code. According to the Tax Administration’s guidance, a foreign buyer who does not have a Finnish personal identity code registers as a customer of the Tax Administration before the purchase. Registration is requested with a free-form written request, enclosing a copy of the passport and, where needed, a power of attorney; a representative authorised by the buyer can also request it. After registration, the buyer is issued an artificial personal identity code for the transfer tax return and a personal reference number for transfer tax. The transfer tax can be reported and paid only after registration.
• Lainhuuto. The buyer of real property is required to apply for lainhuuto (registration of title to real property) within six months of signing the deed of sale. The transfer tax is paid before applying for lainhuuto.
• National Land Survey fees. As at 1 October 2026, lainhuuto costs €172 (about £150 / $190) and public purchase witnessing €143 (about £120 / $160). If the property is pledged as loan security, confirming the mortgage costs €47 (National Land Survey of Finland, price list, checked October 2026).

Tax rules in your country of residence may also apply; it is advisable to check with your own tax authority.

What a home costs in Finland: 2025 price levels

According to Statistics Finland (Tilastokeskus), the average price per square metre of old flats in housing companies in 2025 was €2,594 (about £2,200 / $2,900) across the whole country, €4,270 (about £3,600 / $4,800) in the Helsinki capital region and €1,860 (about £1,600 / $2,100) in the rest of Finland. These figures are averages, not medians, and they cover old (not newly built) housing company flats of all building types.

Source: Statistics Finland, StatFin, table 13mw.

By region, the average price per square metre of old housing company flats in mainland Finland in 2025 ranged from €1,108 (about £930 / $1,200) in South Savo (Etelä-Savo) to €3,826 (about £3,200 / $4,300) in Uusimaa (Statistics Finland, StatFin, table 13mw).

For houses bought as real property, a different statistic applies. According to the National Land Survey of Finland’s real estate price statistics, the median price of a built small residential property (detached and similar houses) in 2025 was €150,000 (about £130,000 / $170,000) across the whole country. The statistic covers only properties on their own plot that were sold as a whole, and unpartitioned parts of properties sold separately (määräala); it does not cover housing company shares or houses on a leased plot.

According to the National Land Survey of Finland, the median price of a built small residential property in sparsely populated areas in 2025 was €107,000 (about £90,000 / $120,000) across the whole country. By region, it ranged from about €54,000 (about £46,000 / $61,000) in Satakunta to €210,000 (about £180,000 / $240,000) in Uusimaa.

Prices by city and region are covered in more detail in How much does a house cost in Finland?, and buying a flat in the capital in Buying an apartment in Helsinki.

What comes next

Finding a home is one part of settling in. Buying, owning, and later renting out or selling a home in Finland each have their own rules, which we cover in separate articles, starting with Buying property in Finland as a foreigner and Airbnb in Finland: rules and tax for property owners. Home Of Homes aims to make buying, owning and renting out a home in Finland simpler – in one place, also when you live abroad.

FAQ

Does buying a home in Finland give me a residence permit or a “golden visa”?

According to the Finnish Immigration Service, owning land, property or housing company shares in Finland is not in itself sufficient grounds for a residence permit or citizenship; the first section above quotes its statement. Information on residence permits and the right to stay in Finland is available from the Finnish Immigration Service (Maahanmuuttovirasto, Migri).

How does housing work in Finland?

A flat in a block of flats or a terraced house is usually bought as shares in a taloyhtiö, which owns the building, while the plot is either the company’s own or leased. A detached house or a cottage is usually bought as real property, meaning the land and the buildings. A shareholder pays a monthly vastike to the housing company; it is not rent. The section on how housing works and our article on what a taloyhtiö is explain more.

Should I rent or buy when I move to Finland?

The costs of renting and owning depend on the home, the housing company and your own situation, so there is no general answer as to which is cheaper. If you buy, the transfer tax is 1.5% for housing company shares and 3% for real property. The section on renting or buying lists the other costs of owning.

Do I need a permit to buy a home in Finland after moving there?

The Ministry of Defence permit applies when real property is acquired by a person without EU or EEA citizenship or by an entity in which a party from outside the EU or EEA holds at least 10% ownership or corresponding influence; it does not apply to housing company shares. A permanent residence permit does not remove the need for this permit. On Åland, the Government of Åland’s own rules apply: acquiring real property there usually requires its permit for a buyer without the Åland right of domicile, and housing company shares may also need one if the company’s own land acquisition permit requires it. The permits section above has the details.

Related articles

• Buying property in Finland as a foreigner: the step-by-step guide
• Can foreigners buy property in Finland? The permit rules explained
• Buying an apartment in Helsinki: prices and process
• Where to buy a house in Finland: cities and regions compared

How Home Of Homes works

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2. 2

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   Keep your property's documents, maintenance history and local service providers in one place, and follow everything from abroad.

3. 3

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4. 4

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Sources

• Finnish Immigration Service: FAQ on residence permits, EU citizens, Registration of right of residence and home page
• Finnish Border Guard: Frequently asked questions about travel
• European Commission: Short-stay calculator
• European Union: EU countries; EFTA: The EEA
• World Happiness Report
• Digital and Population Data Services Agency (DVV): Foreigner registration and The registration information of a foreigner (PDF)
• Finnish Tax Administration: Finnish personal identity codes for workers arriving in Finland, Buyer of a flat, Buying real property, Buying your first home, Buyers from outside Finland, Value of real estate and real estate tax rates, Paying real estate tax and Deduction for home loan interest
• Finlex (legislation in Finnish; translations are unofficial): Credit Institutions Act 610/2014 (consolidated text), Limited Liability Housing Companies Act 1599/2009, amending Act 535/2026, Transfer Tax Act 931/1996, Act 470/2019, Act 328/2025 and Government Decree 840/2025
• Finnish Government: Press release on the amendment of the Limited Liability Housing Companies Act (in Finnish)
• Ministry of Defence: Authorisation to non-EU and non-EEA buyers to buy real estate
• Government of Åland: Jordförvärv på Åland, ÅFS 2024:68 and Åländsk hembygdsrätt (in Swedish)
• National Land Survey of Finland: Apartments, Public purchase witnessing, Property transaction service, price list (in Finnish), press release on real estate sales in 2025 (in Finnish) and real estate price statistics service (in Finnish)
• Statistics Finland: StatFin, prices of old dwellings in housing companies, table 13mw

Information checked: October 2026. Rules and prices change; check current details from the sources above.

Currency conversions are approximate and based on the European Central Bank's reference rates of 16 October 2026.

This article is general information, not legal, tax or financial advice. Home Of Homes is a platform, not a real estate agent.