What is a right-of-occupancy apartment?

Right-of-occupancy is a form of housing in which the resident holds the right to occupy an apartment owned by the developer. The right-of-occupancy can be acquired by paying the right-of-occupancy fee, the rate of which cannot be more than 15% of the apartment’s purchase price.

The right-of-occupancy fee is returned to you three months from the date of giving up the right of occupancy. You pay a monthly maintenance charge, which is typically lower than the local rental rates. You cannot purchase the possession of the apartment, but you can live there as long as you like.

Who are eligible for right-of-occupancy apartments?

A right-of-occupancy apartment can be applied for by an adult Finnish citizen who does not have the wealth to purchase an own apartment that meets their needs in the corresponding area. If the applicant has enough wealth to finance at least 50% of the free market value of the right-of-occupancy apartment they are applying for or a corresponding apartment, they are not eligible for the right-of-occupancy apartment. The wealth limits do not apply to applicants over 55. Your level of income does not affect your eligibility for a right-of-occupancy apartment.

How do I apply for a right-of-occupancy apartment?

You need a right-of-occupancy waiting number to apply for a right-of-occupancy apartment. You can learn more about different apartment options on our website before applying. You can apply for apartments in different residential areas and add specific criteria for the apartment and preferences for the specific location of the apartment on the application. Please note that we will only offer you apartments that meet your criteria.

We recommend including various alternatives on the application so that you have a better chance of receiving offers. Some of the apartments that are listed as vacant on our website might be currently offered to previous applicants. You can also include properties that currently have no vacant apartments on the application. We will offer you an apartment that meets your criteria based on your waiting number. If there are exceptionally many applicants for an apartment, an offer will not be sent to all applicants. We will offer the apartment to the applicants with the lowest waiting numbers. The apartment is granted to an applicant who accepted the offer with the lowest waiting number

How quickly can I get a right-of-occupancy apartment?

In an ideal situation, you can get a right-of-occupancy apartment in a few days. If you have a waiting number and a suitable apartment is vacant, you can even move in the same week. If you need an apartment urgently, you should call a sales representative directly. The sales representative can see what apartments can be offered to you at the moment. It may be possible to see the apartment on the same business day.

How do I apply for a right-of-occupancy waiting number?

Waiting numbers are issued through the Housing Finance and Development Centre of Finland ARA’s national service. The waiting number issued by the ARA allows you to apply for all right-of-occupancy apartments in any location. The new number is valid for two years, and you may have only one valid waiting number at any time.

Read more about waiting numbers on the ARA website.

What does the right-of-occupancy fee adjusted based on the building cost index mean?

When you give up your right of occupancy, the original right-of-occupancy fee is adjusted based on the building cost index. The building cost index is an index published monthly by Statistics Finland, and the development of the right-of-occupancy fee is bound to the index. If the index is higher on the date of giving up the right-of-occupancy apartment than when acquiring the apartment, the resident moving out will receive the difference as an index increase.

The right-of-occupancy fee is bound to the building cost index on the date when the original right-of-occupancy fee was paid. The building cost index valid on the date of giving up the right of occupancy is compared to the index on the date of the payment of the original right-of-occupancy fee.

What is the selling price of a right-of-occupancy apartment?

The selling price of a right-of-occupancy apartment consists of the original right-of-occupancy fee, the building cost index adjustment and any possible additional and alteration works. The selling price is the sum of money the resident moving out will receive when giving up the right-of-occupancy apartment. The selling price is also the purchase price of the new resident.

Can I pass down a right-of-occupancy apartment as inheritance?

Yes. The right of occupancy is the property of the estate of the deceased holder of the right, and it is controlled by the shareholders of the estate or a single shareholder with a power of attorney from other shareholders. If other residents than shareholders of the estate have lived in the right-of-occupancy apartment at the time of the death of the holder of the right of occupancy, they have the right to claim the right of occupancy within three months from receiving information about the entitlement. See the Right-of-Occupancy Housing Act.

Can I transfer the right of occupancy to a loved one?

The right of occupancy can be transferred to a spouse or a family member who is living permanently in the apartment at the time of the transfer. The right of occupancy can also be transferred to a direct descendent or ascendant, such as a child or a parent.

Can I move from a right-of-occupancy apartment to another right-of-occupancy apartment?

Yes. The new Right-of-Occupancy Housing Act makes it easier for changing right-of-occupancy apartments for those who are applying for an apartment in the same right-of-occupancy property as well as those right-of-occupancy apartment residents who are swapping apartments.

See the instructions for moving into a new right-of-occupancy apartment.
See the right-of-occupancy apartment swapping marketplace guide.

How do I swap right-of-occupancy apartments with another resident?

You can swap right-of-occupancy apartments with another resident at the right-of-occupancy apartment swapping marketplace. At the marketplace, you can offer your apartment and state your preferences for the new apartment. It is also possible to swap apartments from different companies See the right-of-occupancy apartment swapping marketplace guide..

Can I rent out a right-of-occupancy apartment?

You can transfer the right-of-occupancy apartment to another for a maximum of two years with reasonable grounds. You can transfer the apartment to another if you are temporarily residing in another location due to work, studies or other similar reasons or there are other special grounds for the transfer. You need to report the transfer of the control of the apartment in writing to the right-of-occupancy organisation in advance. See the form required to transfer the control of a right-of-occupancy apartment here. The apartment cannot be used to offer accommodation or otherwise transferred to serve a purpose other than permanent residence.

When will the right-of-occupancy fee be returned?

The right-of-occupancy fee will be returned to you three months after the notice period once the control of the apartment has ended. This period is not bound to calendar months. You can also get the right-of-occupancy fee back earlier if a new resident moves into the apartment in less than three months from the date of your notice.

The sum of the right-of-occupancy fee to be returned is calculated based on the original right-of-occupancy fee and the adjustment based on the building cost index. The sum of the right-of-occupancy fee also takes into account any reimbursement for additional and alteration works carried out in the apartment.