Buying property in Finland.

drj1gsaw · Post by **drj1gsaw** » Mon May 11, 2015 12:43 pm

Hi guys! I am coming to Finland this year to get my masters degree from Finland. Ill be in Tampere for 2 years. I was wondering if I could purchase a small apartment while I reside there. There reason behind it being that I wish to stay in Finland after my masters has completed. Studying and learning Finnish will be my top priority.

Does purchasing property as a NON-EU residence grant you any extra rights? Will I be granted a residence permit on the basis of owning property in Finland after I have completed my education? I have looked around but all I have found is that property can be purchased with ease and the procedure to do so, but I can't seem to get my hands on any information regarding the ownership of property and the right to stay/live in Finland with it. Can someone help me out?

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betelgeuse · Post by **betelgeuse** » Mon May 11, 2015 6:09 pm

drj1gsaw wrote:Hi guys! I am coming to Finland this year to get my masters degree from Finland. Ill be in Tampere for 2 years. I was wondering if I could purchase a small apartment while I reside there. There reason behind it being that I wish to stay in Finland after my masters has completed. Studying and learning Finnish will be my top priority.

No Finnish bank will give you a mortgage without history in the country so to do so you will need to finance it with other means.

drj1gsaw wrote: Does purchasing property as a NON-EU residence grant you any extra rights?

It will not.

drj1gsaw wrote: Will I be granted a residence permit on the basis of owning property in Finland after I have completed my education?

You will not.

drj1gsaw wrote: I have looked around but all I have found is that property can be purchased with ease and the procedure to do so, but I can't seem to get my hands on any information regarding the ownership of property and the right to stay/live in Finland with it. Can someone help me out?

You can't find information because the two are not connected in any way. All the allowed categories are listed in http://migri.fi

caster · Post by **caster** » Tue May 12, 2015 2:46 pm

you mentioned buying property for residence, what do you have in mind for citizenship

Rosamunda · Post by **Rosamunda** » Tue May 12, 2015 10:01 pm

I saw a really interesting documentary about property / real estate markets in the UK recently. They were explaining how difficult it is for young people to get a foot on the "housing ladder" and in particular young graduates with big student loans and no collateral (eg rich parents). One guy - an undergraduate student - had had a brilliant idea and with the help of his (generous) bank had managed not only to buy a house, but also graduate with virtually no debt and contribute towards solving the student housing crisis.

He bought a 3-bedroom house and rented out the upstairs to three students. He also lives in the house (I guess he converted the living room). The rental income from his tenants more than covers his mortgage repayments & utility bills. When he graduates and finds himself a job he can either continue to rent out the house (even if he moves away) or he can sell up and probably make a capital gain, or he can throw out one or two tenants and make the place feel more like a home and less like a student pad.

Apparently he managed to pitch his idea to the bank in such a way that they were convinced it was a no-brainer and were therefore prepared to give him a mortgage. It's possible he had a down-payment - I don't remember the details.

Oho · Post by **Oho** » Fri May 22, 2015 9:53 am

tummansininen wrote:I love those kinds of shows! Along those lines, maybe buying & running a B&B would be possible - it makes you self-employed (but I'm not sure how you would show enough income unless you manage to do it while studying so that you will have a history of income to show them at resident permit renewal time).

Would it be allowed under the terms of student residence permit which is for studying not running a hotel?

betelgeuse · Post by **betelgeuse** » Fri May 22, 2015 11:26 am

tummansininen wrote:
Oho wrote:
tummansininen wrote:I love those kinds of shows! Along those lines, maybe buying & running a B&B would be possible - it makes you self-employed (but I'm not sure how you would show enough income unless you manage to do it while studying so that you will have a history of income to show them at resident permit renewal time).
Would it be allowed under the terms of student residence permit which is for studying not running a hotel?
Very good point unless it's a tourism master's.

Student permits have no field restrictions. Running a B&B is fine. The 25h limit is a little fuzzy for me. It would apply at least if the business is run as a separate legal entity.

rinso · Post by **rinso** » Fri May 22, 2015 1:41 pm

But on the other hand, income from a straight rental is not considered "work",

It might not interfere with the study requirements but under certain conditions you qualify as "entrepreneur" which can put restrictions on social support.

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