Wealthy Russians are increasingly oriented to overseas property

Posted on Apr 5, 2012

Russias middle class is increasingly focused on foreign real estate. In the past year, the demand for Russian property abroad was characterized by this boom. In this case, as the experts, apartments and houses – mainly in resort areas of the Old World – are buying is not the oligarchs and owners of newspapers, factories, ships, and entrepreneurs and midlevel managers of successful companies, according to “New news”.

More than half of transactions for less than 300,000 euros, which is comparable to the price of Moscow 3-room apartment is not a class “lux”. More and more of our fellow citizens understand that a house or an apartment in Europe – it profitable. Where once the foreign ownership could boast one, now many of the middle class (unless, of course, take it to the highest bracket) prefer solving their housing problems already at home, and for the same money that is in our capital decent “dvushka “buy a small cottage on the shore of the Mediterranean Sea.

Told NO director of the Moscow office of a major international consulting firm Edward Savulyak mainly property acquired or to stay, either for rent or on a “to be”. At least – as a means of investment. “But in recent years a growing number of transactions purely commercial orientation – only for rent. Such transactions recorded at least 9-10% of the total,” – said the expert. However, he said, the proportion of customers who give shelter “from time to time,” is not less than 30-50%.

It is clear that the preferences of Russians depend primarily on the amount they have. Today in demand began to use low-cost areas: first, the Czech Republic, Montenegro, Bulgaria. Have always been popular in Spain, Cyprus, France, Italy. Most property is purchased in the resort areas and business centers. These houses, note the easiest profitable to rent and receive an annual income.