Greenland cracks down on foreign property buyers amid rising geopolitical tensions

Sermitsiaq.AG reports that the Greenlandic government (Naalakkersuisut) and the Finance and Tax Committee of the Inatsisartut (Greenlandic Parliament) have introduced stricter regulations on foreign property purchases in Greenland, citing the current geopolitical situation. These measures are intended to protect Greenland’s real estate market from unwanted foreign influence and ensure that local residents retain access to housing.

• Only individuals with Danish citizenship or those who have had a permanent residence and registered address in Greenland for at least two years are now allowed to acquire property or be allocated land in the country.
• Hans Peter Poulsen (S), Minister for Infrastructure and Housing, explained that the decision is a response to increased international interest in Greenland, particularly following the opening of international airports in Nuuk and Ilulissat.
• The measure aims to prevent properties from being acquired for speculative purposes, which could destabilize the Greenlandic housing market and make it harder for local residents to buy or rent homes.
• Companies already established in Greenland will not be affected by the new rules and can continue to purchase properties and apply for land allocation.
• Individuals or companies that do not meet the new criteria may apply for special permission to acquire property in Greenland.