According to the latest “2012 Real Estate Registry Statistics Report”, released by the Official Real Estate Register Bureau, Russian buyers rank third position in number of properties acquired in 2012, shifting place with Germany which moves to fourth place.
Russian demand in our country starts just before the Real Estate bubble began in 2007 in Spain. From that date it has been steadily growing 135% with 1.008 units in 2007 to 2.399 in 2012.
Currently Russian purchases represent 9.6% of total overseas units sold in Spain and 12% of total European ones.
If we take a look of where do they are looking for, we will find, most of Russian potential buyer like houses in the Mediterranean coast specially Torrevieja in Alicante also Valencia and Murcia, where there are a big settlement of Russian resident citizens. Secondly Barcelona, Marbella and recently Canary Island are growing rapidly according to one of the most popular real estate portal in Russia.
If we take care of prices, 60% of total enquiries look for properties below 100.000€, 15% below 150.000€, 15% below 300.000€ and a non-negligible 10% of enquiries for properties over 300.000€.
In summary, Russian overseas demand in Spain is clearly growing from 2007, looking for sun and good prices. Although there are a group of rich Russian people who has also to be satisfied with much more sophisticated requirements and we do not have to forget.
For sure this tendency will remain in the near future and who knows if could overtake France and UK who ranks first and second respectively.
From Social Media Tailored, Real Estate Digital Marketing consulting firm, we encourage overseas investors to start looking for Real Estate opportunities in our country. We are currently advising financial institutions and real estate companies, how to capture this potential overseas investors demand in new emerging markets.
Jesús Labrado Fernández
General Manager Social Media Tailored
Phone: +34 91 013 34 10