Security | Defense Minister Häkkänen talks about the ban on real estate acquisitions

Defense secretary Antti Häkkänen (kok) will hold a press conference on the ban on real estate acquisitions on Monday morning.

The government wants to improve Finland’s national security by tightening the conditions for foreign real estate transactions.

The civil service working group set up by Häkkänen suggested in May a complete ban on real estate acquisitions in Finland by citizens of certain countries.

According to the working group’s proposal, a permit would not be granted to a person “whose state of citizenship the European Union has found in its decision to have violated the territorial integrity, sovereignty and independence of another state, and whose state of citizenship may pose a threat to Finland’s national security.”

Häkkänen has since also told the public that a complete ban on real estate acquisitions by Russians is progressing.

The proposal is to include certain exceptions.

The working group proposed, for example, an exception regarding persons who have a valid permanent residence permit in Finland at the time of property acquisition.

Working group the report estimated that, with the proposed legislation, renting and operating through boulevards might increase.

In this case, the ownership arrangements could become more complicated and transparency would decrease, which would make it more difficult for official supervision and increase the resource needs for supervision.