Property News

Bulgaria, Spain and Turkey finding Russian buyers

Bulgaria, Spain and Turkey finding Russian buyers
Bulgaria is firmly established as the most popular destination for Russian overseas property buyers says a recent piece of research conducted at a Moscow property show. Spain came second and Turkey third.

International Residence magazine conducted a survey of 499 potential Russian overseas property buyers and discovered that 49% planned to buy in the next 12 months, 66% were looking for apartments, and 53% were buying for lifestyle reasons compared to 12% looking to make an investment.

The survey also found that 40% of buyers were looking to spend between ?100,000 and ?250,000. International Residence also estimates that the Russian market is now worth $12 billion per year to the global overseas property industry.