Russians for rubles buy real estate abroad despite sanctions - media

In Cyprus, in Italy, France, Spain, Hungary, Montenegro and Serbia, you can pay Russian currency for purchased housing, The Moscow Times writes. It is much easier for Europe than the euro. Citizens of the Russian Federation, despite the sanctions, began to actively buy real estate abroad again.

According to the results of the first half of the year, 35% of the total number of transactions of Russians with foreign real estate fell into the EU countries, writes The Moscow Times with reference to the data of Intermark Global. It is noted that in 2022, after a full -scale invasion of the Russian Federation into Ukraine, the number of transactions decreased sharply due to sanctions, and real estate owners were afraid to make money from the Russians.

In 2023, the share of Europe in the purchases of foreign real estate was only 7%. However, now developers in the EU countries are again conducting operations with citizens of the Russian Federation, and many people accept rubles for payment. And the Russians draw up a residence permit in France, Spain and Cyprus for both investments and financial independence.

Real estate agencies are offered in Cyprus, in Italy, France, Spain, Hungary, as well as in Montenegro and Serbia apartments, apartments and villas, for which it is possible to pay for rubles. In some cases, payment for the new building in Cyprus can be made at the expense of Turkey, and the Hungarian developer on the account of Serbia. It is much easier to spend the seller directly in Europe than the euro, - Russian realtors say.

However, Southeast Asia remains the leader in the number of transactions, which accounted for 40% of all Russians purchased for six months. Most often, buyers were chosen by Thailand (26% of transactions) and Bali (13%), where there are no restrictions sanctioned for Russian citizens. 15% of the agreements came to the Middle East, especially the UAE, 7% to Turkey. The Russians also buy real estate in Qatar, Vietnam, Cambodia and Mauritius.

At the same time, demand for Caribbeans has collapsed, where the states of the region closed all programs for issuing passports in exchange for investments. We will remind, on June 13, The Insider published material that the environment of Russian President Vladimir Putin continues to buy luxurious yachts, and also imports spare parts into Western business jets to bypass sanctions.