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Selling to Russians News: what countries attracted Russians in November?
December 19, 2008
Here are the top 10 in rounded percentage numbers:
The first ten positions are almost the same as in October. More than 60% of total requests are still aimed at these countries.
Bulgaria holds the first position in Prian rating. On one hand mass-media frequently reported in November that the price growth on Bulgarian property market has ceased and several projects were temporarily frozen. On the other hand some experts denied the decline of Russian buyers' demand. These reports attracted more Russians to the Bulgarian market than in October (+ 6.74%). At the moment this is the biggest monthly upswing in the history of Prian rating.
Russian citizens were mostly interested in Bulgarian residential property: app. 91% of requests are housing requests. These figures can be broken down further as the following: 8% - apartment requests, 12% - detached homes requests, other users couldn’t specify the kind of required property. The demand for land property composed 7%, commercial property demand constituted 2% of all the requests concerning Bulgaria.
Simultaneously the interest to Bulgaria's TOP-10 closest neighbors (Finland, Spain, Germany, Czech Republic, France and Italy) slightly declined. Germany lost 1% of the overall number of requests and descended from the 2nd to the 4th position.
Montenegro returned to the TOP-10 driving out Turkey (to the 11th place with 2.61%). News regarding the dramatic decline of demand and prices in the country played game for Montenegro.
The USA and Egypt figures didn’t change.
Greece follows them with a firm 12th position, which it has occupied for the last 4 months.
Russian interest towards Cyprus does not get weak regardless the crisis. The island's property market occupies the 15th position.
Thailand has experienced most serious changes in position outside the leading ten. It has lost 3 positions. Political perplexity and transportation problems are the cause.
The changes in overall demand structure should also be noted. In November more and more Russians visited Prian looking for property in a specific country. It means Russian buyers tend to become better "prepared" and their requests start to be more objective.
November Percentage of the total requests number:
Requests for unspecified country 5.73
In October it was:
Requests for unspecified country 7.62
The portal has also analyzed companies that offer foreign properties to Russian buyers. The analysis was based on studying the offers of 1500 companies registered on Prian.
Here is the Overseas Property Supply on Russian Market (%):
As well as in the Demand Rating, Bulgaria occupies the leading position in the Supply Rating. The supply is adequate to demand on Bulgarian property market.
Also the supply in Spain, France, Italy, Greece, Egypt and Montenegro is adequate to demand.
In case of Turkey and Cyprus the balance is slightly shifted towards supply. Developers and realtors in these countries approach the Russian market aggressively, paying special attention to marketing and advertising.
On the other hand demand for properties in USA and Finland significantly exceeds the supply.
To your best business success,
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