Russians are buying considerably fewer properties in Finland than in recent years. The number of purchases by Russians last year declined by nearly half from the level in 2008.
In the a record year 2008, 780 such deals were finalised. Juhani Väänänen, an expert of the National Land Survey of Finland, estimates that last year’s figure is about 400.
“In 2008, Russians bought properties at a rate of about 70 a month. This pace kept up in January and February of last year, but then it fell off”, Väänänen says.
The boom in sales of Finnish holiday properties to Russians sparked a certain amount of debate, with some making demands that property sales to non-EU citizens should be restricted.
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Russians buying less real estate in Finland