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Selling to Russians News: More on International Property Shows in Russia, 2010 - 2011
October 26, 2010
aiGroup, the leading organiser of international property shows in Russia, has started the Fall 2010 season with the major events in Moscow and St. Petersburg in October.
The first major overseas property event for this season took place in the centre of Moscow October 1st and 2nd when the 7th Moscow International Investment Show saw more than 6,400 unique visitors pass through the doors to meet with the 172 participating companies representing 30 countries.
As could be seen by the crowds at the show the interest in investing abroad continues to grow in Russia, and International Residence, Russia's leading overseas property magazine, used this opportunity to gather market research and compile statistics from this focused audience.
- 60% of those interviewed stated that they are more interested in residential real estate abroad, 16% were looking for commercial and the remaining 24% were undecided
- Asked when they were intending to buy, 47% replied within the next 12 months, 44% within 1-2 years and 9% indicated later
- As to the value of the projected purchases 24% are looking for investments up to €.100,000, 26% from €.100,000 to €.250,000, a further 26% from €.250,000 to €.500,000, 16% from €.500,000 to €.1 million and 8% looking to invest more than €.1 million
- When asked if they would be seeking a mortgage for the purchase 46% indicated that this was a possibility, 38% stated categorically no to a mortgage and 16% were undecided. Most stated that they would only consider a mortgage from a foreign bank
- The question of which countries were of most interest to them, produced some interesting results: Spain 21%, Bulgaria 16%, Italy 12%, Thailand/China/Malaysia 11%, France 8%, Germany 7%, Turkey 6%, Cyprus 6%, Montenegro 5%, Greece 4% and Latvia 3%. Also of interest were Czech Republic, Croatia, United Kingdom, Portugal, Slovakia, Holland and Dominican Republic
The most important overseas property exhibition in St. Petersburg, the Russia's second largest city took place October 15th and 16th. St. Petersburg boasts a population of 4.8 million inhabitants has become the new star on the overseas property show circuit with many international developers returning, keen to seek new leads and meet potential buyers. They were not disappointed as more than 6,500 streamed through the doors for the two-day event.
International Residence, Russia's leading overseas property magazine, was again out to survey the wishes of overseas property buyers in St. Petersburg.
The market in St. Petersburg has matured extremely fast and is now on a level with Moscow. However, due to the location in northern Russia, potential buyers are showing interest in different destinations and the survey in St. Petersburg was designed to explore the differences between Russia's leading cities.
- 66% implied that their primary interest was for private residential real estate abroad, only 5% indicated an interest in overseas commercial property. A further 29% were undecided and indicated that they were looking for the best returns
- When asked when they were intending to buy property abroad, 42% indicated within the next 12 months, 47% said within the next 2 years and 11% later
- 31% of those interviewed stated that their investment would be less that €.100,000, a strong 35% stated that they were considering purchases between €.100,000 to €.250,000, while 25% were looking at between €.250,000 to €.500,000 and 8% between €.500,000 to €.1 million. Values of over €.1 million were of interest to 1% of those polled
- 51% in St. Petersburg stated that they could be interested in taking a mortgage for their overseas investment. 31% have no interest in a mortgage however 18% indicated that they would be interested in repayment by up to 4 instalments. Most preferred the possibility of mortgages through foreign banks
- Questioned on which countries were of most interest to them for overseas property investment, the results were: Spain 18%, Bulgaria 16%, Montenegro, 11%, Finland 11%, Italy 8%, Turkey 7%, Cyprus 6%, Dominican Republic 6%, Germany 5%, France 5%, Greece 4%, Norway/Sweden 2%. Also of interest were Thailand, Latvia, Egypt, Costa Rica, Panama, New Zealand, Czech Republic, Canada, Croatia and Australia
These stats have been presented by aiGroup. Hopefully they will be helpful for your international properties marketing to Russian buyers.
To your best business success,
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