When choosing properties, most investors would like to get a combination of stable income and immigration status
In the first half of 2024, Russians' demand for investment properties in France, Bali and the UAE increased by 15%. The number of requests for Cyprus and Spain, where the purpose of the purchase is both to generate income and to enjoy a resort holiday, also increased by 10%. In addition, owning real estate in each of these countries provides grounds for obtaining a residence permit there with various statuses. Based on data from the company Ricci | Foreign Real Estate, experts from the Elitnoe.ru portal have compiled a selection of countries popular among Russians, where they buy real estate both for investment and for their own residence or obtaining a residence permit.
Cyprus – popular “two-room” and “three-room” apartments
Cyprus remains one of the most comfortable places for Russians to invest and move. There is a low entry threshold, giving the right to permanent residence upon purchase of housing or commercial premises worth from 300 thousand euros. Apartments in Limassol (in the photo) and Paphos are popular. These are lots with two bedrooms ten minutes' walk from the beach. The purchase of such apartments costs on average 2-3.5 thousand euros per square meter, and they are often chosen for subsequent rental. For personal residence, they prefer more spacious properties with three bedrooms in premium projects on the first coastline.
In the fourth quarter of 2023, the average price per square meter of apartments in Cyprus increased by 13% and reached 4.3 thousand euros, but detached houses are becoming less expensive – by 6%, up to 4.4 thousand euros per square meter. The choice of new projects on the island is small, the pace of implementation is high. The most expensive real estate in Cyprus is in the center of Limassol: at least 4 thousand euros per square meter. Lots in the area of the Limassol casino are considered promising for investors.
UAE – demand for one and two bedroom apartments
In the United Arab Emirates, to obtain a residence permit, you must invest in real estate from 750 thousand dirhams (205 thousand dollars). Russian buyers are primarily interested in real estate in Dubai (pictured). Here, apartments with one or two bedrooms in the Business Bay and Dubai Marina areas are in demand. In this emirate, there are offers priced from 11 thousand dollars per square meter and higher-class housing with a cost per square meter of at least 6 thousand dollars. Among the frequent requests, real estate in projects on Saadiyat Island in Abu Dhabi is also noted.
Spain – commercial properties of 50-70 sq. m are attractive
Those who choose Spain for their own long-term residence need at least 500 thousand euros. There is a “golden visa” program here, which provides a residence permit for three years upon investment in real estate with such a value. In tourist Barcelona, housing prices are high – about 4.8-14 thousand euros per sq. m. Highly liquid commercial properties are more interesting for investment. These are small premises with a total area of 50-70 sq. m with a tenant in the city center. The cost of such an offer varies widely: the minimum is 1.5 thousand euros per sq. m, the maximum reaches 8 thousand euros.
France – small apartments in demand
In France, owning real estate is a proof of financial independence and can be one of the grounds for obtaining a residence permit. Russians traditionally prefer Paris and its suburbs. Here, housing is offered with an average price per square meter of about 10 thousand euros. Small apartments on the Cote d'Azur (pictured) in cities with developed infrastructure and educational centers nearby are also popular. Such housing costs an average of 6 thousand euros per square meter. There are more affordable options in the center of the country. For example, housing prices in Bordeaux or Lyon start at 4.7 thousand euros per square meter.
According to Ekaterina Lomteva, CEO of Ricci | Residential Real Estate, when choosing European properties, Russians are focused on long-term investments in highly liquid options, with capital gains that can reach 50%. In the most popular locations – Barcelona, Paris, and the Cote d'Azur – prices continue to rise, and good deals are gone pretty quickly.
Bali – popular apartments and villas with one to three bedrooms
The Indonesian resort of Bali is chosen both for investment and for obtaining a residence permit under a “golden visa”. To do this, you need to purchase real estate priced from $350,000. Apartments and villas with one, two or three bedrooms within walking distance of the beaches are in great demand. But you can invest with a small check. Bali is more suitable for those who are looking for short-term investments for a period of 2-3 years. New projects located in good locations are increasing in price by 6% every year. The yield from renting out housing in them is about 12%.
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