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If you are planning to sell overseas property in Spain quickly, you would be wondering about Russian buyers. Where have they disappeared? Actually, it’s been a while since the Russians were actively involved in Spain, but that’s changing fast.
After a prolonged recession in Russia and the decline of the Russian Rouble, there was a real drop in Russian interest in Spain. Even the number of Russian tourists visiting Spain had been down in 2014 and 2015.
But 2016 saw big changes. Russians were once again visible in Spain. It does seem that they are very much back and this time, they are here to stay. What’s different this time than before is that Russians are not just buying high value properties – they are buying properties that are worth between €50,000 and €150,000 as well.
Even villas and apartments in the lower end of the property market in Spain are being bought by Russian buyers. The reason for this is the profile of the Russian buyer buying properties in Spain has changed. It’s no longer just the ultra rich who are buying – even middle income Russian buyers are actively involved.
So this represents a great chance for you to sell overseas property in Spain ASAP. Indeed, in January 2016, there was a 23% increase in the number of Russians arriving at the Malaga airport compared to a year earlier.
The Russian Association of Tour Operators has reported an increase in bookings to Spain by 34%. This is certainly good news for home sellers in Spain as Russians are considered to be amongst the biggest spenders here.
Russians like Costa del Sol, Malaga and the rest of the Andalucía region. They have invested over $1 billion in the Alicante region of Spain. Alicante is fast emerging as a major attraction for Russian buyers and an overseas property hotspot.
The Russian investment has certainly done wonders for tourism across the length and breadth of Spain. It has boosted the local economy by creating more jobs in the tourism industry.
Russians generally prefer beachfront properties. They also like golf apartments or apartments near golf courses. Most of them are attracted to Spain because of the lifestyle here. The Mediterranean climate in Spain is picture perfect for much of the year.
The lifestyle here is very much relaxed and laid back, and one can just spend the entire afternoon at a beach in Malaga or Tenerife and spend the rest of the evening enjoying the vibrant nightlife there. That’s easily one of the best ways to spend your time.
It is estimated that 1.5 million cash rich Russians have visited Spain in 2016. Russians generally spend more time in Spain compared to tourists from other countries. Many are so attracted by what Spain has to offer that they go on to buy properties here.
There are a plenty of flights that connect Spain to Russia. Russians also feel welcome in Spain, as Spain is a very friendly country. We expect the Russian interest in Spain to increase in 2017 and beyond.
If want to sell property in Spain fast to cash rich Russian investors contact us today.