Russians increasingly invest in resort real estate

Russians increasingly invest in resort real estate
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Over the past eight years, there has been a consistent growth on the market for resort real estate in the Russian city of Sochi, Interfax reported on Thursday, citing a corresponding analysis.

It is noteworthy that this trend has not affected all segments of the market. So, in 2017 housing of economy and business classes for the first time in the recent years has experienced a decline. While real estate in the elite segment is even more in demand than before — an increase accounted for 30%.

In total, over 7,800 objects were sold last year in Sochi, with a market volume of 35 billion rubles. Most of the residential property offered for sale is located in the Central and Adler districts of the city. They account for more than 80% of housing supply in Sochi.