Finland Home Hunt: Log Cabin Dreams Come To Life For $ 1.4 Million

A log cabin on an island in the Gulf of Finland $ 1.39 MILLION (EUR 1.19 MILLION) This 1,300 square feet chalet sits on a small islan...

This 1,300 square feet chalet sits on a small island near the Porkkala Peninsula, about 25 miles from central Helsinki on the Gulf of Finland. Set on about two wooded acres with a small sandy beach, the property has two saunas – one in the house and one in a separate small cottage on the beach, said Petri Marttonen, an agent for Habita, who has the listing. .

Located in a narrow cove and accessible only by boat, the island, called Blamansholmen, is about a fifth of a mile long and has a handful of houses. This property has two piers, with enough space for four boats, Marttonen said. The nearest marina, near a small grocery store, is about a five-minute ride.

Built in 1992 from thick pine logs, the house has a wraparound deck to maximize the view of the water. The main entrance opens onto a heated glass porch, then onto the living room, with exposed pine walls, a slate fireplace and a vaulted ceiling.

From the living room is a large windowed dining room and the galley style kitchen. The kitchen has plenty of storage, with wooden cabinets and counters along three walls and a door leading out to the patio.

A bedroom and a bathroom with an adjoining electric sauna are located on the ground floor. Two sleeping mezzanines are upstairs.

The small cottage on the beach has a wood-heated sauna, a living room with a fireplace and a shower room. Outside there is a terrace and a swimming jetty.

A few steps away, a small glazed belvedere perched on a high point offers a wider view of the coastline, the gulf and, to the west, the Baltic Sea.

Jutting out from the southern tip of Finland, Porkkala has nature reserves with hiking trails and is known as a prime location for migrating bird watching. The town of Kirkkonummi, about 10 miles away, has basic food shops and restaurants. The center of Helsinki is about 35 miles to the east and the Helsinki-Vantaa Airport is about an hour away. The north coast of Estonia is 40 miles across the Bay of Finland.

More than a quarter of Finland’s 5.5 million inhabitants live in the greater Helsinki metropolitan area, which includes the cities of Helsinki, Espoo, Vantaa and Kauniainen. With the rise in apartment construction, this density is expected to continue to grow, so that a third of the country will be grouped there by 2040, according to a report. real estate market report of KTI, a Finnish property search company.

“The economy is quite diverse in the Helsinki region and it offers more services than most other regions,” said Hanna Kaleva, Managing Director of KTI. “It is also the most international region of Finland.

The country’s aging population is adding to the demand, as more older residents move out of remote areas in favor of convenient city living, Ms. Kaleva said.

In the first three quarters of 2020, nearly 9,400 new residential units were completed in the Helsinki region, according to the KTI report. About 40 percent of these were rentals; the rest was either organized as housing shares (a common form of ownership in Finland which is the equivalent of housing co-operatives in the United States) or through the sale of real estate.

Almost half of the Finnish population lives in apartment buildings, or “apartment buildings”, according to Statistics Finland. In 2020, the average price for an apartment in a new building in the Helsinki area was 6,262 euros per square meter ($ 680 per square foot), compared to 4,238 euros per square meter ($ 460 per square foot). in the rest of Finland.

Across the region, prices for housing in these buildings are up 4.6% from 2019 levels. Single-family homes, available only outside the city center, currently cost around € 4,500 per meter. square ($ 490 per square foot), depending on Etuovi SEO portal.

In central Helsinki, prices for apartments in historic buildings, many of which are Art Nouveau, are well over 7,000 euros per square meter ($ 760 per square foot), said Kenneth Katter, partner and agent of Snellman Sotheby’s International Realty in Helsinki.

“Helsinki is full of ancient and fantastic architecture,” Katter said. “Some of the unique apartments – corner apartments on high floors overlooking the parks and everything in between – are almost works of art. There is a much higher demand than we can meet.

At the same time, he said, the pace of new construction is effectively recreating other parts of the city: “The pandemic has not slowed anything down. Some of the yards swapped international teams for national teams, but this had little effect on the completion of constructions. “

As in many countries, the pandemic has also boosted demand for second homes outside of the city, Katter said. Sales of summer cottages and other second homes rose about 30 percent last year, he said.

In April, the Times reported that “Finland has been one of the European countries least affected by the pandemic, which experts attribute to the great confidence in the government and the weak resistance to the following restrictions”. Currently, the nation the borders are open travelers who have proof of full vaccination against Covid-19, provided two weeks have passed since the last dose.

The share of foreigners in the Finnish population is among the lowest in the European Union, according to KTI. About 7.5 percent of the population does not speak Finnish or Swedish as their first language.

But foreigners are much more common in the Helsinki metropolitan area. Mr Marttonen estimated that around 20% of real estate transactions involved a foreigner, most often from Europe, Russia, China and India.

Mr Katter said that in addition to these regions, he also sees buyers from the Middle East and the United States.

Buyers outside the European Union must apply to the Ministry of Defense for a property purchase permit. (A permit is not required to purchase housing shares.) Information should be provided about the buyer and seller, as well as the intended use of the property. The fee is 150 euros ($ 175) and the processing takes anywhere from a few weeks to a few months.

Real estate agents, not lawyers, usually handle real estate transactions. “We are required to have legal knowledge and to pass an exam organized by the Central Chamber of Commerce to be able to work as a real estate agent,” Marttonen said.

The agent’s commission in the Helsinki metropolitan area is between 2 and 5 percent, depending on the property, Marttonen said.

Mortgages are available to foreign buyers, but most Finnish banks have strict qualification requirements.

Finnish and Swedish; euro (1 euro = $ 1.17)

The transfer tax in Finland is 2 percent for housing shares and 4 percent for property, like this one. The annual property tax on this home is 783 euros ($ 920).

Petri Marttonen, Habita Tapiola, 011-358-50-4200147;

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Newsrust - US Top News: Finland Home Hunt: Log Cabin Dreams Come To Life For $ 1.4 Million
Finland Home Hunt: Log Cabin Dreams Come To Life For $ 1.4 Million
Newsrust - US Top News
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