Cheap Property More Likely to Tempt Russian-Speaking Buyers Abroad

Moscow, Russian Federation, December 10, 2015 (Newswire.com) - Tranio’s Russian and CIS Buyer Activity 2015 report survey concludes that countries with lower property prices have become more appealing to Russian-speaking buyers. The lower the average property price in a country, the higher the chances of selling real estate to Russian and CIS buyers. This conclusion is based on the answers of 500 respondents (real estate agencies and developers) in 37 different countries for 2015.

Key aspects:

"Undoubtedly, agencies save time: buyers don't have to call dozens of sellers, arrange viewings and spend lots of time trawling through irrelevant offers. A good agent should find you five listings in a week. We make a point of introducing buyers to at least two agents, so they really get as many good options as possible quickly."

Marina Filichkina, Head of Sales at Tranio

• Overseas property investment 50% lower
   
• Clear correlation between conversion rates of clients to buyers and       property prices
   
• Bulgaria, Hungary and Turkey are destinations with cheapest average     property price
   
• Germany remains the most popular investment destination for Russians with a medium sized budget

All top conversion rates are located in Eastern and Southern European countries: Greece, Latvia, Hungary, Bulgaria, Turkey and Montenegro.

Although commercial yields in Germany are falling, investments are booming and occupancy is just under 100%, guaranteeing a safe haven for Russian and CIS assets where currency value fell drastically since the end of 2014.

The survey also highlights huge discrepancies between buyers’ estimated budgets and the quality of prop- erty they can afford in the country of choice. As observed by Tranio, clients are 40% more likely to refuse initiating a deal in “expensive” countries compared to “cheaper” ones.

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