Finland stops real estate purchases by Russians on security grounds

Minister of Defence Antti Häkkänen on Tuesday made two negative permit decisions concerning real estate acquisitions by buyers from outside the EU and EEA, said the Ministry of Defence in a press release on Thursday.

The negative decisions concerned one property in Pargas and five in Kokemäki.

The buyers are private individuals and both are Russian citizens.

“The Ministry of Defence carefully examines the background of each real estate buyer from outside the EU and EEA. Protecting our national security is particularly important in the current security situation,” said Häkkänen.

Negative permit decisions are based on the Act on Transfers of Real Estate Requiring Special Permission.

Among the Ministry of Defence’s reasons for the negative decisions is that the transactions can be considered a threat to national security and a hindrance to organising Finland’s defence.

The decisions do not yet have legal force.

Earlier in September 2024 Finland made six negative permit decisions concerning real estate acquisitions by Russian buyers.

In October 2023, the Ministry of Defence issued three negative permit decisions concerning real estate acquisitions by buyers from outside the EU and EEA.

In December 2022, the Ministry of Defence decided not to allow a group of Russian citizens to buy a former elderly care home at Lohikko, in Kankaanpää under South-West Finland region.