The Finnish Ministry of Defence announced that it has blocked seven real estate transactions involving two Russian buyers, citing national security concerns.
Helsinki has been working for some time to restrict property purchases by Russian citizens near strategic locations, in line with existing regulations. The ministry had previously blocked three such transactions in October 2023, followed by three more in January 2024, as reported by Reuters.
The Finnish Ministry of Defence stated that it carefully investigates the background of any real estate buyer from outside the EU and European Economic Area (EEA). “The Ministry of Defence reviews the history of each foreign buyer of real estate with particular scrutiny,” said Defence Minister Antti Hakanen, referring to the European Union and the EEA, which also includes Norway.
Both Iceland and Liechtenstein have emphasized the importance of safeguarding Finland’s national security, particularly in the current security environment.
In September, the Finnish government proposed legislation to prevent most Russian citizens from purchasing property in the country. The move is part of broader efforts by Finland to tighten security measures following Russia’s invasion of Ukraine in 2022. This shift in policy comes after Finland joined NATO, ending decades of military neutrality in response to the growing security threat from its neighbor.
The heightened scrutiny on property transactions reflects Finland’s ongoing efforts to protect its strategic interests in the face of escalating tensions with Russia.
