Hi

Has anyone looked or bought at chalets or apartments in any of the Finnish ski resorts. I've been looking at Levi and Yllias. Levi has a very long ski season and a golf course for summer rentals

Lind

Hi there Lind,
I went on a site visit to Lapland - Levi last weekend and after looking around the area the town centre and doing all the maths regarding the property prices and mortgages I bought a property at Levi Snow White Golf.It will have its own golf course for the summer and it has to skiing slopes on its door step as well for the winter.
All the apartments are sold out now at Snow White Golf but the property company i dealt with has launched Aurora Sky which too is in Levi and part of the same brand as Snow White.
There is so much to do for non skiers as well, visitng Santa, going on Snow safari's using snowmobiles, husky dogs. Yllas too has skiing but it doesnt actually have a town, theres not much going on there in the eveing for entertainment wheres Levi has many bars/restuarants to keep everyone occupied.

Hi
We have been skiing in Levi every January for the last 9 years so if you need any questions answering I am more than happy to help if i can! It's a great family ski/board place. We are considering buying abroad but the temperature does concern me as we would be looking to move abroad and have 3 children (who winge in the cold!)Levi is a fantastic resort though.

Hi there NorthernGirl, yeah i really liked Levi, though being October it was fairly quiet,but atleast I know what its like at the quietest time, it snowed on the Sunday I was flying back to the UK & I got the feeling of what it would be like during xmas & the whole skiing season.
Is there alot to do for kids during the daytime there. I bought an apartment there for investment purposes & have a guaranteed rental income but can use it 2 weeks in summer & 2 weeks in winter each year.

Excellent, Ive been waiting for a thread on Lapland.

I'm considering another foreign investment and this place is on my shortlist.

Can anyone answer these questions;

1) One agent was negative on the concept citing it being too cold for skiing and to 'leftfield' for most people

2) What are the income taxes to pay (for a UK resident) on the rent

3) Does one have to file annual accounts with the Finnish authorities, if yes what are the Accountancy costs

4) What NET yield (after all deductions including occasional costs such as accountants fees) do people predict for someone buying without a mortgage

5) Are the properties freehold

6) The lifespan of these timber clad properties and when the timber needs replacing / overhaul

7) Is there onsite management with everything done for you available, (and I do mean everything even down to replacing lightbulbs and doormats)

8) I want best income returns (capital growth not important) so which property do you recommend (Im guessing one with the golf and ski dimension)

9) What is the price of the property you recommend

10) will keen skiers find the place useful


Many thanks in advance

Hi Thorr

We've actually bought an offplan Kelo log cabin in Akaslompolo (Yllas), the agent (abovethearctic) and the developer (Samira) have so far been excellent, the purchase process is very civilised.

We chose Finland because you have the Santa Market at Nov/Dec, a long ski season (Nov to May)and good Summer weather with lots of outdoor activities. We know Finland having visited a few times and know that it's great for families. Yllas is not as commercialised as Levi but has longer ski runs, there are also good transport links to Kittila airport and Kolari train station. The target market is families which is why we chose a ski in/out cabin.

From a financial point of view, if you are renting the property and vat register you can claim back the Vat (approx 10%) on a new build, which is held in a secure bank account for 5 years. Interest rates on mortgages are low and income tax is low for rental income.

Accountancy costs are approx 100 euros per year for filing monthly vat returns.

Properties are freehold

Lifespan of Kelo cabin is 100 years

There are 2 agents within the area of Yllas and they offer a full property management and rental service. We steer clear of guaranteed rental income type schemes as we want to do some marketing of the property ourselves and also like to have the flexibility of using the property ourselves.

Hope this helps

Lind

Hi again,
From a family aspect the resort does offer plenty ie a snow funland which is free, mini draglifts, sledges, hut with fire in and free hot juice, play area and it is all free. The main issue you will have is the temperature. Our children only manage about 1hr at a time before their nasal hair freezes and their toes go numb!!! BUT it is truly a winter wonderland, beautiful snow scenery. The cost of living is high and the tour operator trips are high but as I said we've been every January for the last 9 years so it must have something and that's with grandparents, parents, aunties, uncles etc.

For advanced skiers and boarders it won't set them alight, the runs are short and the t-bar drag lifts take an age. However, these are supposed to be being upgraded to chair lifts. Great for learners and intermediates and guaranteed snow!! Check the flight routes though as not many (Inghams) fly direct to Kittila). The instructors are 1st class and speak good English.