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If you’re looking to sell overseas property in France fast, you will want to look closely at the Russian interest in that country. Are Russians investing in France?
After all, you will have no doubt heard about the decline in the Russian economy because of the fall in oil prices. You will have heard about how Russians have lost a lot of their buying power because of the fall in value of the Rouble. Well, that’s all true, but despite the domestic economic crisis, Russian demand for the residential properties in France remains high.
Indeed, Russians are big investor in France, especially in Paris. And it’s not just the Russian Oligarchs that are investing in France – even middle income Russians are buying properties here. So, it’s not just properties that are worth €1 million or more that are being sold here.
No, Russian buyers are not just looking to buy properties at the high end of the market. Properties that fall in the range of €50,000 to €150,000 are also very popular. In fact, that’s the range most Russian buyers are looking at.
Where are Russians buying properties in France? Well, they are buying in pretty much all cities and regions of France. Paris is without doubt the most popular city with Russian investors.
Also popular are other cities such as Marseilles, Bordeaux, Lyon and Nice. The entire region of the French Riviera is popular. Here, the real estate prices are on the high side. Russian investors also favour the French countryside. There’s a lot of interest in cottages in French villages, as they are available at very affordable rates, some even for €50,000 or less.
There is a serious effort on the part of the French government to attract Russian investment. Many shops and restaurants in France have created marketing plans, designs, etc. to attract Russian tourists. Indeed, many restaurants in France now design menus in Russian, and have special dishes to cater to the interests of Russian tourists.
The Russian government acquired a large plot of land near the Eiffel Tower for the construction of the Russian Spiritual Home. This has certainly led to an increase in Russian interest in Paris apartments. Russians, like Americans, have a very romantic notion of Paris, which has led many to buy apartments here.
Russians are interested in Paris apartments that cost €8000 to 10,000 per square metre. The 6th, 7th, 8th and 15th districts of Paris are in a lot of demand from Russian buyers, as well as from buyers from other nationalities.
For Russians, an apartment in Paris represents an excellent investment as it allows them to earn a decent rental income of at least €1,000 per month. Indeed, it’s possible to get a rental income of €1,000/month from apartments in most of the cities in France, not just in Paris.
So certainly, if you’re trying to sell overseas property in France, there has never been a better time to do so. What’s important is to hire an overseas property specialist with a lot of expertise in buying and selling overseas properties for the purpose.
If you want to sell property in France fast to cash rich Russian investors contact us today.