Greenland Tightens Grip on Foreign Real Estate Amid Surging U.S. Interest

Greenland's lawmakers have introduced stricter controls on foreign property purchases following increased interest from U.S. buyers, sparked by political motives tied to President Donald Trump's ambitions. A new foreign investment screening law aims to protect Greenland's security while balancing economic needs and safeguarding against unwanted political influence.

Lawmakers in Greenland have enacted stricter regulations on foreign property acquisitions after a surge in interest from U.S. buyers, seen as politically motivated due to renewed efforts by President Donald Trump to influence the Arctic island. This led to the acceleration of a foreign-investment screening bill, which focuses on security measures.

In a bid to attract necessary capital while safeguarding national security, Greenland aims to block potentially politically driven U.S. investments, even as it competes for economic diversification in sectors like mining. Additional funding from Denmark and the EU highlights the pressing need for economic growth amidst stagnant public finances.

The proposed screening bill necessitates transparency from foreign investors, allowing vetoes on investments that may threaten Greenland's security. This move aims to counter uninvited political involvement without deterring legitimate American investments, as Greenland seeks a stable partnership with countries considered allies.

(With inputs from agencies.)