The City of Helsinki rents the highest approved price tender to the author of the 33rd district (Kaarela) of the King’s oak district of Pitkäkoski with an open invitation to tender for seven (7) detached houses. Each site has its own auction where tenders are made. Tenders can be made for each plot.The city has the right to accept or reject tenders made in a price competition.The offer is made for the total price of the plot. The initial rent is 3.5% of the property price offered. After the beginning of the year rent, the rent of the plot will be tied to the annual average cost index of living of the previous year. Once the property has been built to approve the building supervision, the tenant can buy the property for himself for five years from the start of the lease. The long-term lease of the plot will be concluded after the building permit has been granted. The price offered and the rent based on it shall be increased if the floor area on which the tender is based is exceeded. The tenant applies for a building permit with the landlord's rental decision, which is valid for one year. The lease includes a first level adjustment 20 years after the start of the long-term lease. Thereafter, every 10 or 20 years, the next level checks shall be carried out according to the tenant’s choice. The rent is compared with the housing price index of the Helsinki Metropolitan Area when determining the rent level. A booking fee of EUR 5 000 must be paid for the plot. After payment of the booking fee, the property is subject to a rental decision allowing the tenant to apply for a building permit. The booking fee will be credited to the rents for long-term land rental if the long-stay rental takes place. Otherwise the booking fee will not be refunded.More detailed instructions can be found in the price competition brochure attached.