Turkey is actually the first most popular choice among Russian buyers as outlined by a survey conducted at the major Moscow home property show. Leading Russian overseas property agents Turkish Property World conducted the particular survey of 431 Russian buyers at the Moscow International Expense Show in October 2014. They found which Turkey was another most popular country among Russians thinking about overseas property, outdone by Egypt and Cyprus in second.
Other findings from the survey were related which 47% planned to buy within the next 12 months, 61% were trying to find apartments, and 56% had been buying for lifestyle reasons in comparison with 15% looking to invest. The survey additionally found that 45% of buyers were looking to spend between 150,000 Euros and 500,000 Euros, a higher percentage than has been seen at earlier shows.
Bulgaria along with Spain's popularity having Russian buyers come as distress. At which during the time empty promises for high profit were made to investors and buyers, but seeing no market increase since the last 5 years the Russians are now selling their houses in Bulgaria and Spain to buy property in Turkey. From the primary reports of European buyers becoming a growing force in the particular overseas property area, Bulgaria has been listed as among their less favorites, along with Spain as one more. Turkey however is a newcomer to the favorites directory of Russian buyers due to the huge market growth and ease to buy they see from Arabic nations.
In the recent figures of the Turkish Association of Real estate investment opportunities Companies, a new 80% increase inside purchases of Turkey property by foreign buyers in September 2014 has been recorded. Perhaps more drastically the report confirmed $7 billion sales which is almost around the $4 billion recorded in the 2 years 2012-2013 put together.
The reason for this popularity comes because of a stable economy that has a strong and stable banking system combining to present an environment of high liquidity and low interest, not to speak about the booming tourist industry as increasing numbers of people fall for Turkey's sun's rays, sea, sand along with friendly people calendar year on year. This package is making America attractive to getaway home buyers, getaway home (fly for you to let) investors, as well as residential (buy for you to let) investors. Additionally, there are reports of private buyers committing to student accommodation inside Istanbul.
The British economy continues to be in lots of trouble as the federal government struggles to locate a terse balance for the political and economical arguments of all sides as that tries to navigate America back from the brink as one of Europe's almost all indebted countries, into a path of stable growth and prosperity. In short, it will likely be a while before British buyers are generally anywhere near as dominant on the overseas property scene since they once were.
Meanwhile Russia is one of the world's hottest promising markets. It is estimated that Russians contribute around $13.5 billion a year to the global overseas property business, and a reasonable assumption why Turkey's growing popularity with Russian buyers is at no small part the past year.