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Russian demand for elite real estate abroad surged by 25 per cent

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Russian demand for elite real estate abroad surged by 25 per cent

The number of requests from Russians for the purchase of luxury overseas property has increased by 25% over the past two years, according to analysis carried out by Knight Frank.

The report states that in 2016, an average budget of Russian citizens for overseas elite housing segment amounted to 4 million euro, compared with the 6.5 million euro in 2014, and 7.5 million euro for commercial real estate (previously this figure accounted for 5 million euro).

Experts have found out that Russian citizens are much more interested in acquiring investment property.

“Taking into account the uncertainties on the world political arena, investors are trying to protect their capital and buy the assets in two or three countries. It is not profitability, but stability and liquidity of the investments that is of high priority for them”, — the director of Knight Frank Russia Marina Shalaeva said.

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