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Finland – February 2024
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Shift to the Residential and Commercial Property Information System in the Finnish housing company space and its impacts on financing transactions
In 2019 Finland deployed the digital Residential and Commercial Property Information System (RCPIS) an information system that will gradually contain comprehensive electronic information on ownership pledges and restrictions of all Finnish housing company shares such as shares of apartments and parking spaces. The RCPIS is regulated by legislation mainly by the Finnish Act on the Residential and Commercial Property Information System (1328/2018) and administered by the National Land Survey of Finland (NLS).
Deployment of the RCPIS in Finland was preceded by demand from domestic and international financial markets for a digital information system. The shift to the RCPIS is significant for investors and financiers as it improves the availability and reliability of information on housing companies and their shares compared to...
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