According to the consulting company Knight Frank, Cyprus has entered the top three most popular countries for wealthy Russians to buy real estate abroad.
According to the results of the third quarter of 2021, Aphrodite Island took the third place in the rating.
Cyprus has lost its position as a leader due to the fact that the country's choice of real estate objects turned out to be small due to the cancellation of the program for obtaining "golden passports". Analysts noted that many residential facilities that were built under this program never entered the market.
What can not be said about Greece and Portugal, which took first and second place, respectively. By the way, Greece accounted for every fifth customer request during this period. Most of the transactions were concluded for investment purposes. In particular, these are purchases of apartments in Athens worth up to 300 thousand euros for subsequent rental. Buyers from Russia were also interested in villas in Crete and apartments in the Peloponnese, whose budget ranges from 1 to 4 million euros.
In Portugal, Russian investors were interested in buying rooms in hotels, in projects accredited by the residence permit program, as well as real estate in golf resorts with an average cost of 400-500 thousand euros.
As it turned out, 66% of Russians who sent requests for the purchase of foreign housing want to buy real estate in order to get a passport or permanent residence abroad, 20% of Russians want to buy real estate for their own residence, and 14% want to invest.
Most often, Russian citizens are interested in buying blocks of apartments for rent, as well as logistics and commercial real estate, especially grocery retail. Interestingly, residents of Moscow and St. Petersburg, as well as other cities: Samara, Yekaterinburg, Krasnodar and Novosibirsk still want to buy housing abroad.
Knight Frank noted that this year the demand began to grow primarily for countries that have opened borders. Potential buyers arrive there for business purposes or for medical reasons and look at real estate in parallel.
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