Russia Set To Be The Next Big Overseas Property Investors

Russia set to be the next big overseas property investors

by

FreshStart Living

Russians are increasingly looking to overseas real estate for property investment opportunities following the recent Putin election victory.

As many feel that reforms are likely, citizens of the country are beginning to opt for foreign investment deals rather than rely on the Russian banking system, according to Mike Bridge who is able to combine his earlier in-depth knowledge of the Property Show business and his current interest in the Russian market.

The St Petersburg International Property Show attracted over 6,863 visitors, an increase of 5.5 per cent, while the rival event with fewer stands had a poor turnout with low quality visitors primarily looking for local, subsidised property. The show to beat however is well established Moscow International Property Show, held this year in April, Mr Bridge said.

Spring is traditionally one of the busiest times on the Russian Property calendar, with a number of major events taking place in Moscow and St. Petersburg, magazines are full of beautiful real estate and the internet is hot with property information, he commented.

Most Russians do not have mortgages resulting in substantial disposable income to invest in real estate abroad. Russia is home to more than 1 million so called mass affluent with up to $.425, 000 in cash assets.

The expert added that the Russian overseas property market is now estimated to be worth in excess of $12 billion ( 7.4 billion).

Commenting following the success of this season s property shows in Russia, Mr Bridge said: The future from Russia is looking good as the spring shows have indicated, and I am sure many overseas developers and realtors reading this will be on the next flight to Russia. But remember, Russian s like to see that you are active in their backyard.

Foreign investors are becoming the driving force behind the UK property market, paving the way for a continued sector success, according to new figures from European real estate organisation PropertyEU.

Research by the publication showed that that the UK was the most active market in Europe in December 2011 and January of this year with a total of 4.9 billion ( 4.06 billion) invested during those months.

UK figures came ahead of those for France and Germany which saw 4.2 billion and 1.8 billion invested respectively.

The publication suggested that investors are continuing to look for safe havens within the European property market.

Furthermore, foreign investors spent more money in the period than domestic investors with an overall total of 53 per cent majority.

The Financial Times recently reported that the City of London s office space had largely been acquired by foreign investors in 2011.

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