Latest Headlines

Russian overseas property buyers

The results of a survey conducted by the Tranio.Ru Internet Centre of Overseas Property portal provides an insight into Russian overseas property buyers, where and what they are looking to purchase.

CYPRUS has been gaining in popularity amongst Russian overseas buyers for quite some time along with other Mediterranean and European countries.

In March this year the Tranio.Ru Internet Centre of Overseas Property portal carried out an online survey which included 202 respondents; representatives of foreign property agencies and private realtors.

Some of the key findings of the survey are outlined below:

  • The most typical buyer of overseas property is an entrepreneur or a business owner – a man older than 30 (and usually younger than 45), who is married with children.
  • Russian-speaking buyers are more interested in holiday accommodation and, to a lesser extent, in buying property in large cities. They are more likely to buy apartments in complexes rather than villas and other single-family residences. The most popular price category is up to US $150,000 (€120,000).
  • Other popular reasons for buying property overseas are linked to business, education, and medical treatment. A notable number of buyers plan to move abroad for permanent residence. Many buy property to settle their children or parents abroad.
  • In general, Russian buyers do not speak foreign languages although the majority of those who do speak English.
  • The most common reason for buying overseas property is the impression received during a holiday in the country concerned. To a large extent buyers are guided by advice from relatives and friends.
  • The main things that attract Russians in the countries where they buy property are favourable climate and weather conditions. A positive attitude of local residents towards Russians is also appreciated. Political and social factors, personal safety, low crime rates, and the opportunity to live in a peaceful and quiet place are of great importance.
  • Shopping facilities and delivery services lead among features of residential and social infrastructure. In addition, many buyers appreciate a high quality of medical care.

Full details of the Tranio.Ru survey and analysis may be found at Russian Buyers of Overseas Property – Who Are They?

Readers' comments

Comments on this article are no longer being accepted.

  • @Denton – In the early days, when affluent Russians started buying property abroad, it was the more expensive properties they were looking for.

    But now the masses have entered the market, their budgets are lower. I guess you will still get a handful looking to buy at the top end – as you would in any property market.

  • Denton Mackrell says:

    What strikes me as odd is the low target sale price of these buyers. We had been led to believe that the only Russians buying property here were at the top end of the market Euros 500k-2m+. Can anyone explain the discrepancy?

  • Alex says:

    If they wake you up only 2 weeks in a year, this can be tolerated. If they do this all year round, they are probably not Russians, but Pontians.

  • @Alex Anscole – Nuisance neighbours are a common problem. The emails I get are mainly from those who live permanently in holiday apartments and who get tourists staying in the block who party into the early hours.

    The first thing to do is try to resolve the problem informally by talking with them.

    If they do not listen then you should report the matter to the police.

  • Alex Anscole says:

    “The opportunity to live in a peaceful and quiet place are of great importance” – tell that to my low end (€120,000) Russian neighbours who keep me up all night, drinking vodka, shouting loud when there is no need. They de-value the other properties and lower the class of the neighbourhood I’m afraid.

  • The views expressed in readers' comments are not necessarily shared by the Cyprus Property News.

  • Text size

SELECTED REPORTS

Back to top