Russian Buyers’ Interest Towards The Overseas Property Markets

April 24, 2009 - PRLog -- Russian buyers’ interest towards the overseas property markets
in March 2009
The Prian.ru portal has prepared the next rating of overseas property markets that
attract Russian real estate buyers. We have analyzed more than 800 thousand
requests to the portal’s property database submitted in March 2009.
MARKETS RATING
Position
in March
(January)
Country Percentage of the total request
number submitted in March
(compared to January)
Trend Duration (the
length of decline /
growth)
1 (1) Bulgaria 18.87 (–0.97) 3 months
2 (4) USA 7,85 (1.21)
)
8 months
3 (2) Spain 7,31 (–0.69) 1 month
4 (5) Germany 7,03 (0.43)
)
1 month
5 (3) Finland 5,57 (–1.51) 5 months
6 (6) Italy 5,03 (0.39)
)
3 months
7 (8) France 3,85 (0.45) 2 months
8 (7) Czech Republic 3,77 (–0.08) 7 months
9 (10) Montenegro 3,00 (0.46)
)
1 month
10 (9) Egypt 2,45 (–0.17) 7 months
Prian.ru comment
Bulgaria has been leading the rating of Russian property buyers’ interest for more than
nine months already. Since the beginning of 2009 we have started to register a slight
decline of Bulgaria-related request numbers, however, the difference between the fi rst
and second lines is very signifi cant (almost 11%).
More than a half-year-long growth of interest towards the US property market has secured
the country a position on the second line of the rating. The interest is supported by the
news regarding the real estate market stabilization and the increase of sales volume in
several states. That said, we assume that the supply doesn’t correspond with the demand
– currently American realtors and developers lack activity on Russian market.
A slight decline of interest towards Spanish property is reasoned by relatively grim
prognoses regarding the local housing market. Spanish market has not bottomed out yet
and many potential buyers resort to a waiting strategy.
The fi ve-months-long stability on Finnish property market negatively affects on its
popularity. Investors pay their attention to more volatile markets. The interest has declined
in March due to seasonal changes: winter leisure is becoming less popular.
We relate the growth of interest towards Montenegro with a new legislation that has come
© «PRIAN.RU» International Property, 2009 tel. +7 (812) 346-86-28, e-mail: editor@prian.ru 3
into force in the country. The law allows foreign citizens to purchase land parcels.
Beyond the TOP-10, Latvia is attracting more interest (+0.61) reaching the 11th position,
up from 15th. The trend is reasoned by another coil of local residential property price
decline that has been registered during the fi rst months of 2009.
Greece that had lost 4 positions in the beginning of 2009 has now gained a little more
interest (+0.37). The growth is explained by the increasing affordability of Greek property:
some developers are offering 40%-large discounts.
Residential and Commercial Property
The “Prian.ru” portal also provides statistic of Russians’ requests for basic property market
segments: residential and commercial.
RESIDENTIAL PROPERTY
Position in March
(January)
Country Percentage in March (compared to January)
1 (1) Bulgaria 23.27 (–1.46)
2 (2) Spain 8.04 (–0.24)
3 (4) USA 7.72 (+1.05)
4 (5) Germany 5.89 (+0.06)
5 (3) Finland 5.44 (–1.49)
COMMERCIAL PROPERTY
Position in March
(January)
Country Percentage in March (compared to January)
1 (1) Germany 27.62 (+7.34)
2 (3) Bulgaria 8.69 (–0.04)
)
3 (4) Spain 7.89 (–0.25)
4 (2) Czech Republic 7.37 (–1.47)
5 (6) Finland 6.61 (+2.18)
The fi rst fi ve positions in the rating of interest towards residential property correlate with
the main rating and remain untouched since August 2008. The US housing market keeps
on gaining positions – it has almost caught up with the Spanish market. Finnish housing is
loosing its popularity, according to our forecasts it may fall out from the TOP-5 with Italy
taking its place.
During more than 9 months Germany is confi dently leading the commercial property
© «PRIAN.RU» International Property, 2009
www.sunnyislesrealestatecondos.com
www.balharbourcondo.com
www.hallandalerealestatecondos.com

# # #

Aventura, Sunny Isles and Bal Harbour is one of the Most Prestigious and Wanted area's in Miami real estate. Oceanfront Condos-Homes.