In recent months, Russians have become less interested in buying real estate abroad. Demand has decreased by 47% compared to the beginning of 2023. Analysts from the online marketing academy MAED came to this conclusion. The experts obtained the data through marketing studies, with which the edition “Izvestia” became acquainted.
The demand for housing among Russians for the year decreased the most in the following destinations: Argentina (-85%), Turkey (-71%), Israel (-68%), Cyprus (-55%) and Portugal (-54%).
The only country that showed an increase in demand was China. Compared to the beginning of 2023, the interest of Russian citizens in the purchase of real estate in this country has increased by 87%.
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According to data from property market experts, despite the overall decline in demand, the top 5 countries where Russians buy the most propertiesremain practically unchanged: The UAE is in first place, Turkey is in second and Thailand is in third. Spain and Kazakhstan complete the top five.
“The downward trend in interest in foreign real estate reflects not only a reassessment of investment opportunities in stable assets, but also a re-prioritization of alternative lifestyle options. The results of the new survey show overall that, contrary to previous trends, the demand for foreign real estate among Russians has already decreased significantly,” commented Margarita Vardanyan, executive director of the online marketing academy MAED.
The search by Russians for real estate in Thailand is growing, Mila Grebenshtikova, vice-chairman of the board of directors of Mayalanya Group, notes for her part. The expert told “Izvestia” that currently Russian real estate investors are generally reorienting to other markets – they are increasingly interested in Southeast Asia and the region of the countries of the Middle East and North Africa.
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According to Grebenshchikova, “Thailand has been well known and loved by Russians for many years. For example, in the first quarter of 2024, Russian citizens took third place in terms of tourist flow in the country.” The expert commented that the properties there are one of the most affordable in terms of prices. They are bought for different purposes – both as a vacation property and as an investment with the purpose of renting out.
“Rental yield in Thailand is one of the highest – 8-10% per year. Therefore, buying real estate in this country is a suitable way to diversify capital and receive passive income,” summarizes Grebenshchikova.
Tags: countries Russians buy properties
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