Insufficient data on foreign house owners

08.02.2019 - 08:18
Insufficient data on foreign house owners
Not much information is available about overseas real estate investors in the Faroes
Fugloy is one of the popular places for foreign property investors

The demand for Faroese real estate among foreign investors is at an all-time high, newspaper Sosialurin reported this week.

SEE ALSO Housing package presented

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.

SEE ALSO Outer islands wary of foreign property investors

SEE ALSO Mayor warns against foreign property investors

SEE ALSO Mandatory lists of approved rental properties

Translated by prosa

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