Finland blocks real estate purchases by Russian, other foreign nationals

Finland has rejected 11 real estate purchase applications from foreign buyers, including Russian nationals, citing national security concerns, the country’s Defence Ministry announced on October 27.

“Therefore we reject real estate acquisitions which we find that threaten national security and security of supply and have the potential to hamper the organisation of national defence activities,” Defence Minister Antti Häkkänen (NCP) said in the press release, Caliber.Az reports per foreign media. 

The ministry flagged real estate purchases by foreign entities as a potential avenue for hybrid influencing tactics. Häkkänen highlighted that Finland’s real estate transaction permit system, including a recent ban on property purchases by non-resident Russian and Belarusian nationals, serves as an “effective measure against such real estate deals being carried out.”

The rejected property applications were spread across Finland, including locations in Mikkeli, Parainen, Puumala, Taipalsaari, Savonlinna, Simo, Kouvola, Parikkala, Kolari and Tornio. Applicants had planned to use the properties for a variety of purposes, such as business, forestry, residential, and recreational activities.

Other rejected applicants were citizens of Israel, Kazakhstan, and Kyrgyzstan. The ministry cited the Act on Transfers of Real Estate Requiring Special Permission as the legal basis for the decisions, although it noted that the rejections are not yet legally final.

By Sabina Mammadli