Insufficient data on foreign house owners
The demand for Faroese real estate among foreign investors is at an all-time high, newspaper Sosialurin reported this week.
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However, the housing register, which registers all real estate transactions, contains scarce information about property investors from overseas.
The register does not have a digital search function which can easily identify foreign house owners.
New and improved housing register
Statistics Faroe Islands also has no information about how many non-Faroese citizens own properties in the Faroes.
But, according to the government’s new housing package, this information is likely to be made available to the public soon.
Translated by prosa