Russian independent real estate analytic center irn.ru published the year-end report "Russians buy international real estate, 2009 in review". The report draws a major conclusion that the trend will grow.
The analysis is based on the transactions that Russian buyers of international real estate completed in various countries with the help of Russian real estate agencies that offer foreign properties to buyers in Russia.
We have to keep in mind though that there is no way to summarize those transactions worldwide that were completed by Russian buyers with the direct help of real estate agencies in the countries where the properties are located, or just entirely on their own like buying properties sold "by owner" or being advised by relatives or friends in foreign countries. This means that such transactions were not included in the report of course.
Anyway this report is interesting as it evaluates the market of Russian buyers of international real estate properties in general.
Here are the major points of the report "Russians buy international real estate, 2009 in review" for your information in English in a nutshell:
Russians were buying foreign real estate properties approximately in the same quantities in 2009 as in 2008 (while at the same time statistics show that the inside real estate market volume in Russia suffered a decrease of about 35% in 2009 in comparison with 2008)
Market volume of international real estate was estimated at 10.8 billion in 2009 vs. 11.9 billion in 2008
Average estimated price of an international home purchased by Russians abroad was $210,000
Russians bought approximately 50,000 foreign homes in various countries
45% of Russian buyers came from Moscow
Approximately one in ten Russian real estate buyers bought properties internationally
In some countries Russians were the most active real estate buyers in 2009: in Cyprus 55% of all properties sold were bought by Russians, in Montenegro - 52%, in Egypt - 45%, in Israel and Croatia - 40% in each. Experts say this trend has been very strong for the last several years
More info on Russian real estate buyers preferences in term of countries, etc. you can find at http://www.english-and-russian.com/Selling_to_Russians-russians-buy-international-real-estate.html
To your business success,
Olga Kellen, the Author of Selling to Russians, free e-book for real estate professionals
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