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In What Foreign Countries Russians Invested in Real Estate in 2023 and Some Predictions for 2024
January 02, 2024

Hi Everyone,

In What Foreign Countries Russians Invested in Real Estate in 2023 and Some Predictions for 2024

There are so many online sources reporting on the topic of Russian international properties buyers over the year 2023, and also market experts' views where Russians are going to invest in 2024. I've collected lots of relevant info, and you might email me if interested in Russian buyers for properties in your own country/area in more details, as here I can only make some resume by the most popular countries or segments of the globe.

- Southeast Asia

The region is stable, safe, with nice climate and good ecology, where real estate prices are rather affordable, and at the same time rentals are rather profitable.

Some Russian realtors report that Russian investors' interest for Thailand has grown by approximately 40% over the year 2023. The possibility to receive passive rental income all year round is one of the most attractive features there.

Indonesia is well-known among Russian investors because of Bali first of all. After the pandemic many developers have become active on the island, including some from Russia. Investing $150k in new construction there can bring one up to 20% profit a year, as some reports say. Tourists adore Bali, thus it's always easy to find renters.

More exotic locations as Maldives, Seychelles and Mauritius are also on the rise with the Russian buyers.

Prognosis from the Russian real estate market professionals for 2024 is very favorable for Southeast Asia.

- Middle East

The region successfully competes with Southeast Asia for the Russian investors due to economic and political reasons such as high speed of growth, steady relations with Russia and residency for real estate owners.

UAE (Dubai mostly) is the leader - some Russian realtors report that more than half of their clients bought properties over there in 2023. There are developers from Russia in the market, too.

As Dubai real estate and cost of living becomes more and more expensive, the Russian buyers start looking at other cities as Abu-Dahbi and Ras Al-Khaimah. Other Middle East countries are also becoming of interest for the Russian investors: Oman, Qatar and Bahrain among them.

- Turkey

For years Turkey has been on top of favorable destinations for the Russian buyers of international properties because of the affordable prices, easiness of traveling, residency permits for the owners.

In 2023 there were several reasons for reducing the Russian demand there somewhat: the earthquake with many buildings ruined and more difficult rules for getting residency in effect are the major ones.

Still, Turkey is one of the leaders on the Russian buying market (24 000 Turkish properties are advertised on one of the most popular Russian real estate portals for foreign properties for sale).

- Friendly Countries of Europe

Hungary and Cyprus both provide residency for the Russian buyers of real estate there (which allows to unblock their frozen bank accounts in Europe among other perks).

So, as we can see how politics can affect the international real estate markets a lot and your country's properties can be in more or less demand and cost more or less because of the politicians.

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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