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.

Source: opp.org.uk