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Why do Russians buy property abroad?

Russians have become interested in foreign real estate since 2017. This was facilitated by the stabilization of the ruble exchange rate, but on the other hand, there were concerns over the devaluation of the ruble and the decline in wealth. First of all, Russians buy real estate abroad due to several reasons. It is not always improving living conditions, but above all the desire to preserve and increase capital, diversify assets, the opportunity to get various preferences and get an alternate aerodrome through investing. Secondly, citizenship is a tasty pie just for businessmen, because this allows you, for example, to avoid difficulties when opening accounts in foreign banks and gives freedom of movement.

Over the past two years, the demand for overseas property has soared one and a half times, according to experts from the Financial University under the Government of the Russian Federation. For example, the demand for real estate in Turkey over the past two years has increased almost four times, in Bulgaria - 2.5 times, in Germany, the Czech Republic, Cyprus and Montenegro - about two times. Russians with a small budget (140-160 thousand euros) prefer to select real estate objects in Spain, Bulgaria, Turkey, Cyprus, the Czech Republic, Montenegro, Italy, Germany, Greece and France.

For the “alternate airfield” or for periodic residence, Russians consider resort regions of Spain, Turkey, Montenegro, or even Italy. For example, in Bulgaria, for such an amount, you can buy several apartments at once for yourself and your relatives, or a specific penthouse on the first line of the sea with furniture and all the necessary equipment. And here the logic of choosing a property is what kind of beach was loved by tourists with experience and a suitable budget.

On the other hand, the purchase of real estate as an investment in order to preserve and increase wealth, there are already other motives. First of all, there is not a single country in which it would definitely be beneficial to acquire real estate. To invest you need to have market information and be an investor who understands this process.

When making decisions about investing in foreign real estate, Russians weigh factors such as reliability, preferences for owning real estate and its profitability and future prospects. For example, in order to generate rental income, it is advisable to consider the popular tourist capitals of Europe: Paris, Prague, Berlin, Budapest, and Rome. And for a safe investment, the choice is behind real estate in Germany, where in recent years there has been a steady increase in the cost of square meters. Renting property to tourists in the summer season also allows you to recoup the costs of maintenance and earn some money (depending on the country and the object), and the prospect of higher prices will allow you to increase capital during resale.

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