According to the research of real estate companies, the demand of Russian citizens to purchase foreign real estate decreased by 19-40%. The newspaper writes about this “News”With reference to data from Intermark Global.
The real estate firm notes that in the first half of the year, there was a 19% decrease in foreign real estate purchases by Russians compared to the same period in 2023.
“The market has developed in waves over the past two years due to the increasing demand of Russians to purchase real estate from foreign countries. However, in the last six months, buyers have started to plan the purchase of such real estate more carefully,” said Irina Mosheva, managing partner of Intermark Global.
The main reasons for the decline in demand were the decrease in migration flows, the instability of the ruble exchange rate, the closure of passport programs for Russians, and difficulties in transactions due to anti-Russian sanctions.
Despite the decline in demand, real estate purchase goals remain the same: 40 percent of Russians buy property to move for permanent residence, while 60 percent buy to invest.
Before reported Almost half of Russians believe that investing in real estate is unprofitable. Most residents are confident that buying mortgaged real estate will become less expensive with the abolition of preferential state lending programs and predict a decline in housing demand.
Previously at Sberbank It has been said About mortgage trends among Russians.