Recent insights from international real estate brokers show a notable shift in where Russian buyers look for property abroad. In the first quarter of 2023, demand to purchase homes in Thailand rose sharply, with a year-over-year increase around 57 percent, while interest in Indonesia climbed by about 39 percent. These figures come from industry trackers and were reported by multiple market observers, highlighting a growing appetite for Southeast Asian markets among Russian investors. A separate data source noted a dramatic rise in Thai purchases during the same period, suggesting a 3.4-fold increase in inquiries compared with the previous year, and a 2.2-fold rise for Indonesia. This pattern was reported by major financial media outlets in Russia. [Tranio data, 2023] [Prian.ru, first quarter insights]
Industry executive Elena Milishenkova, who serves as commercial director at Tranio, commented on a broader reshaping of buyer interest. People originally considering Turkey are increasingly turning their attention toward Asia as part of a diversified search strategy. Milishenkova pointed out several factors driving this shift, including perceived hurdles in residency permit processes, rising costs in certain Turkish resort areas, and concerns about seismic activity in some regions. The result is a broader geographic exploration by investors who want to balance risk with opportunity. [Tranio, 2023]
For Asian markets, the appeal for Russian buyers often centers on practical and financial considerations. Transactions can be completed using funds held in Russian bank accounts, which can streamline the closing process for international buyers. In addition, these markets tend to exhibit steadier rental demand across seasons and feature relatively accessible entry points for investors. In Thailand, thresholds start around $100,000, roughly equivalent to 8 million rubles, while in Bali the entry point is typically around $150,000, about 11.9 million rubles. [Market observations, 2023]
Analysts consulted by major business outlets note that the reopening of international travel, particularly with renewed outbound tourism from large markets, could translate into higher returns for properties in Thailand and Indonesia compared with some European markets. However, they caution that investments in these areas carry notable risks. Potential delays in construction, quality control issues, and fluctuations in tourist demand are among the factors buyers should monitor as the markets evolve. The overall message is one of opportunity tempered by vigilance as buyers navigate the evolving landscape. [Market commentary, 2023]