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Russia’s top 10 countries for overseas property

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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
Budva is one of the oldest cities on the Adriatic Sea

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:

Thailand’s coastline is particularly attractive during Russia’s cold winters

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
Greece is one of the most beautiful countries in the world

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
Yacht owners prefer to spend their holidays on the French Riviera

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
Russians own up to 30% of holiday property in Turkey

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
Russians trust Germany’s laws and economic stability

Why Germany:

  • stable investment market (largest economy in Europe, 4th 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
Homes with a view over Lake Como are worth the investment

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
Varna is the largest resort on Bulgaria’s Black Sea coast

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
New York is the second most popular city for Moscow property buyers

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
Spain is the world’s favourite tourist destination

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

Tranio recommends:

— budget holiday homes: Bulgaria, Greece, Spain, Thailand, Turkey, Montenegro

luxury second homes: Italy, France

reliable investments in strong economies: Germany, France, USA

buy-to-let: Bulgaria, Turkey, France, Montenegro

Yulia Gushchina, Tranio

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