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Selling to Russians News: Top 20 favorite countries for Russian real estate buyers in 2016
August 02, 2016
The most popular among Russian, Ukrainian, Kazakh and other Russian-speaking buyers of international properties, real estate portal Prian reports the results for the first half of the year 2016.
More than 10 000 internet visitors look through 100 000 listings on the portal daily. Here's what countries and cities they prefer:
1. Spain is the absolute leader. It’s an interesting time in Spain now - on one hand, the real estate prices are almost half of what they were before the crisis, on the other hand, the recession is over and the growth has started. That's why all types of buyers are active on the real estate market - investors, immigrants, vacationers. The most popular areas are Barcelona, Tenerife, Alicante, and Torrevieja.
2. Bulgaria was #1 last year, and it's still a very popular country for the Russians to buy the second home. All of the seashore is interesting, especially Solnechnyi Bereg (Sun Shore), Varna and Burgas. More and more investors are being attracted to commercial and residential properties in Sofia.
3. Germany and Czech Republic are only two countries not on the seashore among the top leaders. Germany always stays as the most popular destination for investment properties. Germany wins over Switzerland and Great Britain as there are options for all kinds of budgets here. The big cities are in demand - Berlin, Munich, Dusseldorf, Frankfurt and Koln, as well as small towns.
4. Italy was, is and surely will be one of the beloved countries of the Russian buyers for vacation properties. The most popular destinations in are Liguria, Toscana, Calabria, Lake Como and Garda, and also big Italian cities of Rome, Milan and Venice.
5. Greece became very thought-provoking for Russian investors last year when the world media actively discussed its economy. There are still very attractive properties offered at low prices in Khalkidhiki, Crete and Rodos. The government "Golden Visa" program also helps maintain the demand.
6. Montenegro ranks high because any foreign buyer of real estate here can receive the residency right - no limitation on the property price has been established by the government. All the seashore is attractive, but the most popular are Budva, Bar, Herceg Novi and Kotor.
7. The U.S. is more for investors and immigrants from Russia than for vacationers - too far away. The favorite cities are Los Angeles, Miami and New York.
8. Czech Republic has always ranked in the top 10 by the Russian buyers because of the close culture, stable economy and rather low real estate prices. As in the past, Praha, Karlovy Vary and Teplice are in demand. There is a new trend to invest in the city of Brno where rental properties are as profitable as in the capital, but the cost per square meter is cheaper.
9. Turkey went down for the Russian buyers for obvious reasons. The Ukrainians and Kazakhs form the demand for Istanbul, Antalya and Alania.
10. France always ranks in the top 10, although it's kind of expensive to buy in Paris and French Riviera. There are provincial properties that are much cheaper, but it’s not for everybody to explore.
11. Cyprus allows to get residency and even citizenship for the affluent Russian buyers of properties here. It's considered an almost fully Russian-speaking island in the Mediterranean. The demand is growing and Cyprus moves up in the rating. The favorites are Limassol, Pathos and Ayia Napa.
12. Finland, the farthest Northern country in the top 20, experiences a switch in the structure of demand - instead of vacation homes near the Russian border in Imatra and Lappeenranta the Russians are searching more for commercial properties and rentals in Helsinki now.
13. Latvia went down significantly as the government put up the entry price of a property that allowed to get the residency right. Those buyers who are not here for the "Golden Visa", are still looking at Riga and Jurmala.
14. Portugal is moving up as its "Golden Visa" program is considered the best in Europe. The Russian buyers of real estate here favor the following areas of the country: Madeira, Lisbon and Algarve.
15. Thailand is the only country in the South-Eastern Asia that is always in the top 20. Most buyers prefer the tourist destinations of Phuket and Pattaya. The demand for commercial properties is growing.
16. Slovenia appeals to the Russian buyers with its reasonable real estate prices and providing the residency right. The portal visitors are looking mostly for the seashore and Ljubljana properties.
17. The Great Britain is always in the top 20. It's fascinating to see how significantly the number of searches grew after Brexit - probably, because of the lower exchange rate for the British pound. London is the absolute leader, but lately visitors have shown interest in Manchester and Liverpool.
18. Croatia, for whatever reason, is always way behind Montenegro, even after the new rule has been implemented that a foreign can buy a property here as a person, no company formation is required any more. The areas of choice for the Russians are Dubrovnik, Porec and Split.
19. Switzerland, as always, is at the end of the top 20 - too expensive for many. Anyway, Geneva, Zurich and Lugano are the points of attraction for the Russian buyers of prestige properties.
20. Dominican Republic is closing the top 20. It's pretty far away, but well-known among the Russian, Ukrainian and Kazakh vacationers because of the resorts in Punta Cana and Sosua.
Haven't found your country in the top 20? Never mind, as you may be very well more down on the list of the countries in demand by the Russian buyers of the world-wide properties.
To your best business success,
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