Finnish Knife Stabs into Russians' Real Estate

The Ministry of Defense of Finland is discussing the possibility of intervening in completed real estate transactions involving Russians, including deals made two decades ago.

The military department is examining potential intervention in already completed real estate transactions conducted by citizens of Russia and other non-European Union and European Economic Area countries.

According to broadcaster Yle, the head of the defense ministry, Antti Häkkänen, clarified that this step could affect any type of real estate, as well as transactions made over the past 20 years.

In July 2025, Finland imposed a ban on new real estate transactions for Russians and citizens of Belarus; however, apartments in multi-family buildings were not included in the restrictions. Häkkänen has previously expressed the need to reconsider the permission for Russian citizens to acquire apartments.

Häkkänen explained that the main goal of the possible changes is to strengthen control in the area of national security and improve the regulation of real estate transactions involving foreigners.

As reported by the media, the company of Russian billionaire Viktor Ignatiev is considering the possibility of purchasing the bankrupt Zsar outlet village on the border of Finland and Russia.

In Finland, as of July 15, a ban came into effect for citizens of Russia and Belarus on processing transactions involving land plots. Russian companies have almost completely settled their debts to Finland, confirming their resilience and business reputation under sanctions.