February 26. 2024. 6:45

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Many Russians in Finland buy property, sidestepping new rules

Russian nationals purchased properties in Finland at record speed last year but had to do so between themselves due to the new regulations that require them and other non-EU nationals to get a Defence Ministry permit.

Last year, Russians purchased a total of 300 homes, mainly summer cottages – a 64% increase compared to the previous year, the National Land Surveyor of Finland reported.

Similar numbers were last recorded nearly ten years ago, in 2014, reported the Finnish Broadcasting Company (YLE).

But this does not mean the country is slowly moving into foreign hands, the Finnish Defence Ministry said, commenting on the survey.

The new border and visa regulations that were imposed at the end of September last year have instead resulted in fewer transactions by Russians living outside Finland, Anu Sallinen, a ministerial advisor at the Defence Ministry Anu Sallinen, told YLE in an interview.

Most permit applications are currently coming from Russians who already live in Finland, the ministerial advisor added.

(Pekka Vänttinen | EURACTIV.com)