Surge in Affordable Housing Attracts Foreign Buyers to Lapland
Properties priced under 100,000 euros are becoming increasingly attractive, sparking interest among prospective buyers from abroad.
“We knew right away that we wanted a home away from the city’s hustle and bustle,” said Elisabetta Filardi, reflecting on her family’s decision to settle in the tranquil district of Syväkangas in Kemi.
In December 2024, Filardi and her son, Ferdinando Martino, purchased a cozy three-room apartment for just 10,000 euros. Now, the family is on the hunt for an affordable single-family home as they plan to make Lapland their permanent residence. Filardi has already registered her official residency in Kemi, laying the groundwork for a new life in Finland.
Foreign buyers, particularly those from Central Europe, are discovering a wealth of inexpensive detached houses and holiday cottages in southwestern Lapland, known in Finnish as “Meri-Lappi” or Sea Lapland.
As Martino prepares to return to Italy at the end of his vacation, he aims to secure a job in the local tourism sector by next season. “We plan on studying Finnish to enhance our employability here,” he shared in an interview with Yle.
Before heading back south, the duo plans to visit an old cottage in Tervaharju, a charming rural area in Kemi.
In Meri-Lappi, the housing market has remained largely stagnant over the years due to the pandemic, the ongoing war in Ukraine, and broader economic uncertainties. While sales remain low, local realtor Tarja Vartiainen of OP Koti notes a healthy uptick in interest from foreign buyers seeking vacation homes.
According to Finland’s National Land Survey, property transactions involving foreign purchasers in Finnish Lapland have seen an impressive tenfold increase in value over the past 15 years, jumping from 1.5 million to 15 million euros.
“Nearly 15 percent of property transactions in Kemi include international buyers,” revealed Mikko Ryynänen of the local real estate agency Habita.
Realtor Jorma Salmela, based in Tornio, is also noticing a growing demand from Central Europeans. “Properties under 100,000 euros are capturing the most interest,” he said, adding that buyers typically prefer homes with at least a hectare of land, ideally near a body of water.
Most purchases are primarily intended for the buyers’ personal holiday use or that of family and friends. However, there’s also a trend of local renovations targeting retirement living.
For those contemplating the housing market, Yle News’ “All Points North” podcast raised the question: Is now the right time to rent or buy in Finland?
As foreign buyers increasingly turn their eyes to Lapland’s affordable real estate, the region appears poised for new beginnings, both for locals and newcomers alike.