Russians investing abroad
Homeowners in Russia are increasingly choosing to invest in foreign property markets, it has been reported.
According to the Kommersant newspaper, high interest rates and tight conditions for mortgage loans have put many Russians off investing in their own country.
The media outlet states that that some have chosen to purchase properties in other eastern European countries, such as Bulgaria and Montenegro.
In addition, places including Cyprus were also said to be highly popular markets among Russians.
The publication stated people were opting for these countries because they offered high returns and the potential for capital growth, making them a "heaven" for investors.
Kommersant said: "Renting out makes it easier to pay off the credits."
Interest in these markets was also said to have been driven by their popularity among international holidaymakers, as this meant that rental accommodation would be in strong demand.
Earlier this week, property author Andrew Regan credited budget airlines with helping to attract British investors to eastern European countries.
< Back to latest news