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Other than first-time home buyers are currently liable for a transfer tax equivalent to 2–4 per cent of the debt-free price of their new home.
Other than first-time home buyers are currently liable for a transfer tax equivalent to 2–4 per cent of the debt-free price of their new home.

 

Three Finns Party MPs have proposed that people who relocate for an employment opportunity be made exempt from the transfer tax when buying a home.

Toimi Kankaanniemi, Sami Saivio and Ville Vähämäki of the Finns Party have submitted an initiative to the Parliament, proposing that the exemption be granted to people who move outside their employment area for a job and purchase a home in conjunction with the move.

“The high cost of housing and transport makes it difficult to accept a job in a new locality. In addition to the poor availability of rental units, the transfer tax paid by buyers as part of real estate transactions makes moving for a job even more complicated,” Saivio explains in a press release.

Kankaanniemi estimates that the exemption would be particularly valuable for people moving to a population centre for a job.

“An exemption from the transfer tax could mean savings in the region of thousands of euros for employees who buy a home close to their new job. This would be a noteworthy gesture of good will towards diligent job seekers,” he argues.

The trio believe the exemption should be granted to people who, for example, purchase a home in a new employment area after signing an open-ended or at least a six-month employment contract. Such people would currently be liable for a transfer tax equivalent to 2–4 per cent of the debt-free price of the home, unless they were buying their first home.

Studies have shown that the transfer tax discourages people to move and has a negative effect on the functioning of the labour markets.

Aleksi Teivainen – HT
Photo: Anni Reenpää – Lehtikuva
Source: Uusi Suomi

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