Russians have become less interested in the real estate sector abroad: in the Turkish market the drop reached 60-70%, in the United Arab Emirates – 25-30%. Among the reasons are the weakening of the ruble and the flow of investment demand to the Middle East and Southeast Asian markets.
The average budget of Russians’ transactions with foreign real estate in 2023 amounted to 247,000 euros, a year-on-year increase of 23.5%, writes Kommersant.
Prian.ru editor-in-chief Philip Berezin explains the drop in demand by the fact that some buyers solved their problems in 2022, while others were scared by the negative background: “Russians are simply afraid of not being welcome there” .
According to consultants, in 2024 the demand for real estate abroad will remain at this year’s level. They also predict stability in the UAE market, without excluding a slight cooling in Southeast Asian countries and a new drop in interest in Turkey.
Author:
Karina Pardaeva
Source: RB
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