Russian investors are buying up real estate around Europe, Africa, Australia and many other places, while the rest of he world is licking their wounds. Reports from across newspapers and many websites confirm that the Russians don’t intend to stop soon with their overseas property buying activities.
Headlines such as “From Russia with Cash” by the Wall Street Journal; “You are not imagining that Russian buying spree” by The New York Observer“; “Russians snap up Australian luxury” by the BBC are all testimony that there is plenty of action with Russian buyers worldwide.
While they too feel the global crisis it doesn’t seem to affect them as hard. Opportunities in Panama, Brazil and the Dominican Republic give Russian buyers plenty of fodder to invest their dollars in.
Similar action can be seen in Southern European markets such as Cyprus, Bulgaria, Turkey, Croatia and Montenegro. All of these remain popular with Russian investors.
One of Russia’s largestÂ investors is the young Russian developer Vyentseslav Leibman, a millionaire who is pressing ahead with investments of $310 million. Leibman told the New York Times â€œthe money keeps coming, despite the financial crisis”.
Other Russian investors have also started to buy property in Cyprus, Italy, Switzerland, Portugal and Greece. With the recent demise of the Russian stock market where shares toppled by 75%, many wealthy Russian investors started to look elsewhere to spread their dollars.
Interestingly enough, they are reaching as far as Zimbabwe, one of the most troubled economies worldwide right now.
Meanwhile the Finnish market is drying up due to a decline in Russian interests. Rising property prices have sent them packing, travelling the world for better bargains and if you look closely enough, you might find a Russian near you.