Santa Claus and Buy-to-Let

Finland’s snowy Lapland landscapes are drawing in the tourists – and the property investors too.

It may be best associated as being the legendary home of Santa Claus, but Lapland
also has many other worthy characteristics. The number of tourists visiting the area, especially Brits, has increased over the last few years and now stands at over four million per year. In the winter, it’s possible to ski for six months of the year in Finland, and offers more guaranteed and longer lasting ski conditions than some other European resorts.

Winter 2007 saw the opening of the first cable car and the Finnish government have outlined plans to invest heavily in the tourist industry. As far as property goes, property experts say the rental yields are currently about 6% to 7% and prices are predicted to rise by up to 300% in the next 10 years.

But that’s not all. For those choosing to buy offplan, there are other benefits to be had, if you keep your eyes open and check the small print before you sign. Some companies, for example, place the deposit from the buyer into the hands of the government. So if things don’t go to plan and the work on the development stops, or the buyer decides they don’t want to purchase the property after all, they are able to easily get their deposit back (minus a small administration fee).

Lapland is a good bet for buy-to-let properties, as there are already good attractions –skiing, adventure sports and the pre-Christmas Lapland experience holidays – that draw in the tourists.