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What Does BRICS Mean for Russian Buyers of International Real Estate?
October 01, 2023

Hi Everyone,

What Does BRICS Mean for Russian Buyers of International Real Estate?

From Wikipedia: "BRICS is an acronym for five regional economies: Brazil, Russia, India, China, and South Africa. The BRICS have a combined area of about 26.7% of the world's land surface and 41.5% of the global population. The BRICS were originally developed in the context of foreign investment strategies."

So far, 40 more countries expressed interest in joining the organization. Argentina, Egypt, Indonesia, Iran, Saudi Arabia, and the United Arab Emirates are among them. The full list of countries that might become members of the BRICS you may find in Wikipedia and check whether your country is on it.

From Washington Post: "BRICS Became a Real Club and Why Others Want In"

From Reuters: "JOHANNESBURG, Aug 23, 2023 - Leaders of the BRICS bloc of leading developing countries have agreed mechanisms for considering new members, paving the way for dozens of interested nations to join the group which has pledged to champion the "Global South".

"JOHANNESBURG, Aug 24, 2023 - The BRICS group of nations has decided to invite six countries - Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates - to become new members of the bloc."

New Development Bank of BRICS: The Premier Bank for Emerging Economies - "The New Development Bank (NDB) is a multilateral development bank established by Brazil, Russia, India, China and South Africa (BRICS) with the purpose of mobilizing resources for infrastructure and sustainable development projects in emerging markets and developing countries (EMDCs)."

What's important for our topic of international real estate sales to Russian buyers? The recent countries of BRICS, and also those that look to join, are definitely interested in Russian investors and thus do not create obstacles (no sanctions) for the Russian buyers of real estate (of course, if a country's law allows foreigners to purchase real estate properties in general).

You may want to look into marketing your properties-for-sale to the Russian buyers if your country belongs to the recent and future members of BRICS and allows foreign real estate sales.

We have already talked about the Russian buyers of real estate in Brazil, South Africa and the United Arab Emirates in some previous issues of this newsletter, and hopefully will continue to talk about other countries too.

Your questions and ideas are welcome.

To your best business success,


Olga Kellen,
"Anything Russian",
English - Russian Translator,
Associate member of ATA,
Author of the e-books for realtors and property sellers
Selling to Russians

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