Ukrainians Become Leading Group of Foreign Buyers in Finland's Housing Market

As the war in Ukraine continues to drag on, many Ukrainians are finding solace in making Finland their new home. In recent years, Ukrainians have become a dominant force in Finland's housing market, with data showing they ranked third in overall property purchases last year and sixth in housing shares for two consecutive years. One such Ukrainian is Olga Filippova, a professor who fled the war in Kharkiv and now resides in Joensuu, where she purchased a three-room row house to build her new life.

Key Takeaways:

• Ukrainians have become one of the leading groups of foreign buyers in Finland's housing market, with over 60,000 euros to 110,000 euros being the primary price range for their purchases.
• According to the National Land Survey of Finland, Ukrainians ranked third in overall property purchases last year and sixth in housing shares for two consecutive years.
• Olga Filippova, a Ukrainian professor, fled the war in Kharkiv and now resides in Joensuu, where she purchased a three-room row house to build her new life.
• Finnish realtor Alessandro La Russa noted that Ukrainian buyers are primarily interested in row houses and apartment buildings, with local rules and housing company practices often requiring more explanation due to cultural differences.
• La Russa also pointed out that Ukrainian buyers differ from Finnish ones in price negotiations, with Ukrainian buyers typically asking fewer questions and being more direct.
• Russian housing purchases in Finland have fallen sharply in recent years, with Russians remaining the largest group of foreign buyers for housing shares last year, but ranking fifth in overall property transactions.
• The number of Russian property purchases has dropped to less than a third of what it was a few years ago, with most properties being bought in South Karelia, South Savo, and Uusimaa.
• The situation has reversed for Russians in recent years, with them now selling more properties than they are buying.

Statistics:

• Ukrainians ranked third in overall property purchases last year.
• Ukrainians held sixth place in housing shares for two consecutive years.
• The price range for Ukrainian purchases in Finland is typically between 60,000 euros and 110,000 euros.
• The number of Russian property purchases has dropped to less than a third of what it was a few years ago.
• Most properties have been bought in South Karelia, South Savo, and Uusimaa.

Sources:

• The National Land Survey of Finland
• Alessandro La Russa, realtor for Huoneistokeskus real estate agency in Joensuu, Finland
• Personal account of Olga Filippova, a Ukrainian professor who fled the war in Kharkiv and now resides in Joensuu, Finland