Finland’s Ministry of Defence announced on Thursday that it had blocked seven real estate transactions involving two Russian buyers, citing potential threats to national security. This move is part of Finland’s ongoing efforts to restrict property purchases near strategic locations.
The Finnish government has been tightening controls on property acquisitions by Russian citizens, with previous blocks on transactions in October 2023 and January 2024. Defence Minister Antti Hakkanen emphasized that “the Ministry of Defence carefully investigates the backgrounds of every real estate buyer coming from outside the EU and EEA,” referring to the European Union and the European Economic Area, which includes Norway, Iceland, and Liechtenstein.
“Protecting our national security is particularly important in the current security situation,” Hakkanen added. The most recent transactions involved one property in Pargas, located on southern Finland’s coast, and five properties in Kokemäki in the southwestern part of the country. Both buyers were private individuals holding Russian citizenship.
In response to growing concerns, Finland’s government proposed a ban in September 2024 on most property acquisitions by Russian citizens.
