Russia’s top 10 countries for overseas property

The recession in Russia has caused quite a stir, but overseas property is still popular. In 2015, the majority of Russian citizens (about 75%) preferred budget property in popular holiday destinations like Bulgaria, Greece, Spain, Thailand, Turkey and Montenegro, but another 25% bought real estate for investment purposes, generally in Germany, Italy, France and the USA.

10. Montenegro

What: second homes or apartments to rent out or for permanent residence.

Average property budget in popular locations:

• Budva, €110,000
• Budva Riviera, €100,000
• Bar Riviera, €100,000

Why Montenegro:

• simple buying process (compared to Croatia for example)
• good quality real estate at low prices
• one-year residence permit granted for property purchases
• vast choice of new property in luxury apartment buildings
• friendly attitude towards Russians

9. Thailand

What: second homes or apartments to rent out or for permanent residence.

Average property budget in popular locations:

• Property for sale in Pattaya, €50,000
• Property for sale in Phuket, €90,000

Why Thailand:

• affordable real estate prices
• low cost of living
• large Russian community, Russian shops, schools and kindergartens
• exotic landscape and warm weather (25−30°C)
• fresh food at excellent prices (seafood and fruit are especially popular)

8. Greece

What: holiday homes.

Average property budget in popular locations:

• Crete, €100,000
• Macedonia and Thrace, €65,000
• Athens, €65,000

Why Greece:

• lower real estate prices due to crisis
• residence permit granted for property purchases over €250,000
• Europe’s cleanest seas and longest coastline (over 15,000 km)
• hot and dry summers, more than 300 sunny days per year
• friendly attitude towards Russians

7. France

What: investment, homes to rent out or for holidays.

Average property budget in popular locations:

• French Riviera (Nice), €500,000
• Paris, €500,000

Why France:

• Paris, second best European city for investment due to low taxes and interest rates
• French Riviera, luxury location with many elite visitors and property owners
• excellent infrastructure for luxury trips: casinos, yacht clubs, golf courses, etc.
• access: international airports in Paris and Nice
• world-famous local cuisine

6. Turkey

What: homes to rent out or for residence.

Average property budget in popular locations:

• Antalya, €60,000
• Alanya, €57,000
• Istanbul, €66,000

Why Turkey:

• low property prices
• growing real estate market (prices went up 10% in 2015)
• excellent holiday infrastructure
• one-year residence permit granted for property purchases
• access: direct flights from major Russian cities
• high demand for rental property

5. Germany

What: investment, second homes.

Average property budget in popular locations:

• Berlin, €200,000
• Bavaria (Munich), €300,000

Why Germany:

• stable investment market (largest economy in Europe, 4^th biggest worldwide)
• developed rental market with growing rates
• strong legislation that protects property owners
• low interest rates on loans (2% for up to 20 years)
• high quality of construction

4. Italy

What: homes to rent out or for holidays.

Average property budget in popular locations:

• Lombardy (Lakes Como and Garda), €300,000
• Tuscany, €300,000
• Lazio (Rome), €300,000

Why Italy:

• excellent tourist infrastructure
• fabulous variety of landscapes (beaches, ski resorts, islands, natural parks)
• swimming season from May to October, skiing from November/December to April
• rich culture (biggest number of UNESCO world heritage sites)
• world-famous cuisine

3. Bulgaria

What: homes to rent out, for holidays or permanent residence.

Average property budget in popular locations:

• Burgas, €45,000
• Varna, €60,000
• Sofia, €60,000

Why Bulgaria:

• cheap real estate
• lowest property taxes in Europe
• ease of access
• mild climate
• close to Greece, Romania, Turkey

2. The USA

What: investment or holiday property.

Average property budget in popular locations:

• New York, €300,000
• Miami, €275,000
• Los Angeles, €460,000

Why the USA:

• stable and developed economy (GDP makes up 22% of the global total)
• real estate markets on an upward trajectory
• high demand for rental property (35% of Americans are tenants)
• excellent infrastructure in Florida and California resorts
• New York, one of the most popular cities for commercial investment

1. Spain

What: holiday homes.

Average property budget in popular locations:

• Barcelona, €235,000
• Costa Blanca (Torrevieja, Alicante), €100,000
• Canary Islands (Tenerife), €120,000

Why Spain:

• residence permit granted for property purchases
• 320 sunny days a year, +17°C average temperature
• 500+ “Blue flag” beaches
• rich culture (third for UNESCO world heritage sites)
• affordable and regular flights to Russia

Yulia Gushchina, Tranio