Russian demand for foreign real estate has fallen by almost a third
According to the results of 2024, the demand of Russians for foreign real estate decreased by 20-25%. This was reported to Izvestia by experts of the Kalinka ecosystem.
The decline in activity is due to the fall in demand in key destinations: Turkey, UAE and Cyprus, which experienced a boom in 2022-2023.
"At the same time, the activity of Russians in the real estate markets of the Middle East is growing: Saudi Arabia, Bahrain, Oman, in which new projects are starting to be implemented. Despite the higher budget threshold (from $450-550 thousand per lot), the demand from Russians for them is growing. The UAE market is oversaturated with projects, and new destinations in the Middle East countries give an opportunity to diversify the real estate portfolio," - said Business Director of Kalinka Middle East Alexander Shibaev.
Growth in demand for foreign real estate is also noted in Thailand, Bali, Montenegro and Georgia. From year to year demand for the purchase of housing in these locations increased by 20-25%.
Read more in the exclusive material "Izvestia":
Flight options: Russians have become less likely to buy housing abroad
