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Russians shift to cheap housing in London

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Russians shift to cheap housing in London

Residents of the Russian Federation began to spend less on housing in London: in comparison with the year 2015, an average purchase size reduced approximately twofold.


At present, Russian citizens buy real property mostly for themselves, whereas last year, the portion of investment purchases amounted to over 50%.

At the same time, now buyers from Russia spend less on housing in London, the real estate companies told RNS.

“Today, an average purchase size of real estate buyers has decreased and totals 2 – 3 million pounds sterling, while in 2015 it amounted to 4 – 5 million pounds sterling. The decline has begun since the year 2016”, the director for foreign real estate at Knight Frank, Marina Kuzmina, told RNS.

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