A Christmas related post

I thought this article from The Times was interesting and relevant to the season. It's about buying real estate in Finnish Lapland, inside of the Arctic Circle. Talk about your "Northern Exposure":

It is close to midnight on a Saturday night, 90 miles north of the Arctic Circle in Finnish Lapland, and the karaoke machine in the wood- panelled Yllashumina restaurant and bar is humming. Most of the performers opt for Finnish tango, a melodious if somewhat improbable mix of Nordic and Latino culture that is highly popular with the locals. But then a British voice mangling an old Gloria Gaynor number sounds out through the clink of glasses....

The rental market is a varied one. In December, when the sun never even makes it above the horizon, it is dominated by Britons on Santa tours. Finns, French and Germans tend to come up to ski from February to May, when the days get longer, or visit in September to appreciate the brilliant autumn colours. June and July when the sun barely sets at all, is much quieter — not least because of the mosquitoes that emerge from the swampy ground.

The cost of real estate there seems not too bad, I guess:

The majority of Above the Arctic’s properties for sale are in Akaslompolo. Flats start at £57,175 for a 33sq m studio up to £90,750 for a 55sq m two-bedder. Most British buyers prefer wooden cabins, which also rent more easily, especially outside high season. A 56sq m one-bedder made out of kelo logs — a very hard kind of pine several hundred years old — will cost £91,600, while £114,150 will buy a 76sq m two-bedder.

Rental return is also comparable:

Like many of the Britons buying, the Birds plan to use their cabin, which should be completed in February 2008, for only a week or so a year. The rest of the time they hope to rent it out. Local rental agents put the season realistically at 20-25 weeks, which should ensure a rental yield of 6%-8%.

Of course, getting an Australian bank to lend on a Lapland cabin might be a challenge.

Anyway, have a look at Above the Arctic website to see what real estate in Lapland looks like.

While I am on the theme, I saw the Christmas Edition of "New Scandinavian Cooking" on the Food Channel last night. Even at Christmas, nearly everything involves fish, which is not a bad thing until they start talking about the fermented variety. But the main reason to watch the show is to see the host Tina Nordstrom. Have a look at the website.