Amid the falling ruble, Russians are trying to invest their funds in cheap overseas property. Instead of luxury apartments in London, Russian citizens turned their attention to property on the coast of Spain and Turkey. Such data was provided by Idinaidi, writes ee24.com citing opp-connect.com.
Carlo Walther, founder of Idinaidi, said that as a result of weakening of the ruble Russian buyers became less conservative and started to seek for a cheap property in places like Turkey, where the local currency was also going through hard times. Interest in real estate in Bulgaria and Spain was also growing.
Property in Montenegro has become by 28% more popular last month. Turkey was the leader by requests among the emerging markets. There were more queries for this country than for all other emerging markets combined. Buyers also searched for housing in Thailand and Morocco.