On Thursday, Finland’s ministry of defence said it barred seven real estate transactions involving two Russian buyers on the grounds that authorising the acquisitions to take place could threaten national security.
Helsinki had for a while, restricted Russian citizens’ purchase of property near strategic locations based on existing regulations, barring three transactions in October 2023 and another three in January this year.
Defence Minister, Antti Hakkanen had said in a statement,
“The Ministry of Defence carefully investigates the backgrounds of every real estate buyer coming from outside the EU and EEA,” in referral to the European Union and the European Economic Area which also includes Norway, Iceland and Liechtenstein.
“Protecting our national security is particularly important in the current security situation,” Hakkanen added.
This latest development concerns one property in development on the coast of southern Finland and five properties in Kokemaki situated in the southwestern part of the country, according to the ministry in a statement.
The two individuals making the transactions are said to be both private individuals with Russian citizenship, the statement added.
Finland’s government in September had proposed to ban most Russian citizens from purchasing property in the country.
The alliance between Finland and neighbouring Russia have grown sour since Moscow’s full-scale invasion of Ukraine in 2022, compelling Helsinki to join the NATO military alliance after decades of non-alignment.
