Properties confiscated from Russian state in Helsinki and other Finnish cities

Yle recently reported on properties confiscated from the Russian state, a significant number of which are located in Helsinki. The seized properties include both real estate and apartment shares, with some confiscated apartment shares found in the Punavuori district.

One resident, Jukka Kurkela, whose apartment company has seen several shares seized, is unaware if any of the apartments currently have tenants. “I haven’t seen any movement since the announcement. As far as I know, all fees have been paid, and there haven’t been any issues in the housing company,” he said.

Additionally, an unnamed woman who declined an interview was seen hurrying into a diplomatic vehicle in the area. Another resident, Vilho Pyykkönen, expressed concerns about the situation, noting he only found out about the confiscation online. However, he also stated that everything in the housing company appears to be in order.

The confiscations extend beyond Helsinki, affecting properties in Turku, Siuntio, Kirkkonummi, and the Åland Islands. Tero Alajääsken, the manager of a housing company with seized apartments, reported that those units had been vacant for some time, although they were used actively until renovations two years ago.

The total value of the confiscated properties belonging to the Russian state in Finland is estimated to be in the tens of millions of euros. This action follows a ruling from the International Court of Arbitration in The Hague, which ordered Russia to pay over five billion euros in damages to a Ukrainian energy company related to the occupation of Crimea.

While the ownership of seized properties remains unchanged, the owners cannot sell or transfer their assets and do not have voting rights in company meetings. Russia has stated it will contest the confiscation decisions, and experts warn it could take years to resolve the fate of these properties.