AI Group, the organisers of the two of Russia’s biggest property shows have published findings from their visitor research showing the most popular overseas property destinations among Russian buyers.
The results are similar to the findings of our in-depth study 13 months ago into Russian buyer behaviour using data from Russian search engine Yandex. In both datasets, Bulgaria and Spain are out in front by some distance accounting for nearly a third of demand between them and Montenegro comes in third place.
Although Turkey and Germany feature prominently in both lists, the Czech Republic is the fourth most popular destination among this years exhibition attendees but failed to make the our list at all last year.
The big winners this year appear to be Italy (5th compared to 12th) and the USA (10th compared to 15th) with Cyprus the biggest loser (9th compared to 5th).
A likely explanation for the changes is a desire by Russian investors to protect their wealth in the economic storm by buying in safer, more established destinations. Interest in Cyprus will not doubt have been affected by negative publicity around the non-issuing of title deeds.
Top 15 Russian overseas property destinations
1. Bulgaria 20.00%
2. Spain 11.05%
3. Montenegro 6.81%
4. Czech Rep 5.18%
5. Italy 5.00%
6. Turkey 4.73%
7. Germany 4.71%
8. Finland 3.97%
9. Cyprus 3.63%
10. USA 2.86%
11. Egypt 2.43%
12. Greece 2.24%
13. France 1.71%
14. Croatia 1.70%
15. Dominican Rep. 1.43%
The surveys were conducted at the St. Petersburg International Property Show on 16&17 October and at the Moscow International Property Show on 13&14 November.
https://www.globaledge.co.uk/news/top-15-russian-overseas-property-destina-36906