From flyers to buyers – increasing numbers of Russians look to pick up a second home along with a holiday tan

From flyers to buyers – increasing numbers of Russians look to pick up a second home along with a holiday tan

Russian Federation

There’s no question about it – Russians love to travel. Since international travel restrictions were lifted some 20 years ago, Russians have roamed the world on their holidays, in search of sunshine, cultural and historical attractions or simply a spot of retail therapy. Yet certain countries seem to appeal more consistently to this lucrative outbound tourist market more than others.

  • Turkey tops list of most searched-for overseas destinations in 2013 (Yandex)
  • Russians spent 46% more than the average tourist while in Italy in 2013 (UNIONCAMERE-ISNART)
  • Russian searches for property in Thailand increase 74% in a single month (Idinaidi)

According to data from Russia’s leading search engine, Yandex, the most searched for overseas destinations in 2013 were Turkey, Greece, Egypt, Thailand, Spain and Italy. Clearly warm weather is the common theme, with many Russian visitors looking to thaw the chill of their home country’s long winter from their bones by soaking up some sun at the seaside.

Each of the top countries has its own distinct charms in addition to the promise of sunshine. Thailand and Egypt provide easy entry and hassle-free visa permits, as well as fabulous opportunities for historical sightseeing, while Turkey’s beaches and all-inclusive package holidays mean that it is viewed by Russians in much the same way that southern Spain is thought of by Brits.

Italy, of course, is popular due to its reputation as one of the world’s best places to indulge in luxury shopping. In fact, recent data from the UNIONCAMERE-ISNART Observatory on Tourism showed that Russian tourists were the highest-spending visitors to Italy in 2013, spending 46% more than the average tourist.

It’s not just designer clothes and souvenirs that Russians are picking up while on holiday these days either. According to data from the fastest-growing Russian property portal, Idinaidi, which now carries over 650,000 listings and works with 7,500 agents, Russians are increasingly looking to purchase second homes overseas in their favourite holiday destinations. COO Carlo Walther comments,

“Many Russians, having enjoyed their holidays in the sunshine, look to build a more permanent association with their preferred country by buying a holiday home there. Greece’s low prices and Spain’s golden visa programme are key attractions as far as many buyers are concerned.”

Thailand’s popularity with Russian second home buyers has increased dramatically in recent months, with searches for property there on Idinaidi up 74% in the last month alone. Phuket is the location of choice for those looking to turn their holiday into something more permanent, with the most viewed property currently being anapartment at Patong Beach for €55,000. The average budget for those buying in Thailand currently sits at €108,000, with only 5% of searches fitting the stereotype of Russians always looking to spend €1 million or more.

With May – a popular month for short beach breaks due to Russia’s Labor Day and Victory Day national holidays at the start of the month – fast approaching, smart property sellers in those destinations most favoured by Russians will no doubt be considering how best they can tap in to this highly profitable market, turning ever increasing numbers from Russians from flyers into buyers.

For more information visit Idinaidi at www.idinaidi.ru.

From snow to sunshine – Russians set their sights on Spanish second homes

From snow to sunshine – Russians set their sights on Spanish second homes

Russian Federation

It appears that Russians are heading south in search of warmer climes, with the Spanish market benefitting more than most. While Bulgaria remains Russians’ overseas destination of choice, recent data from leading Russian property portal Idinaidi has shown that Spain is accounting for an increasing number of searches for property abroad.

  • Number of Russians holidaying in Spain jumps by 31.6% in a year (Spanish government data)
  • Spain accounts for 24% of all overseas property searches (Idinaidi)
  • Russians visiting Magaluf and Palmanova increase from 2.5% to 8% (Euro Weekly News)  

Helped by the Iberian country’s ‘golden visa’ law, which grants a residency visa to any individual investing €500,000 or more in property located within Spanish territory, Spain is attracting a growing number of Russian second home buyers. Designed to attract affluent investors and revive the Spanish property market, the golden visa law has proven of keen interest to Russians. Though a residency visa is not the same as being granted permanent residency, it is certainly a significant step towards doing so.

The number of Russians holidaying in Spain has also been on the increase. The latest Spanish tourism figures released by Prime Minister Mariano Rajoy showed that Russian tourists now account for 2.6% of the total number of visitors to Spain. While it may not sound like a large proportion of the overall market, holidaymakers from Russia have increased in number faster than those from any other country, leaping 31.6% from the previous year’s figure.

According to the data, Spain’s most appealing destinations were Catalonia, which attracted 25.7% of foreign visitors, followed by the Balearic Islands such as Majorca, which drew 18.3% of the total. Additionally, figures provided recently by the Euro Weekly News showed an increase from 2.5% to 8% in the number of Russians visiting the popular resort towns of Magaluf and Palmanova over the past five years, with over 300,000 Russian and Eastern European visitors in 2013 alone.

The number of Russians visiting Spain is expected to rise further in 2014, in light of positive predictions for the Spanish tourism sector as a whole. Santiago Martínez-Cava, director of airport operator AENA, has confirmed that he is expecting some 10 million passengers to travel through Alicante-Elche airport by the end of the year, as part of a welcome upturn for Spain’s visitor numbers. Routes to Spain also include direct flights from Moscow, Kazan and St Petersburg, into some of Spain’s best-located airports, such as Malaga, Barcelona, Madrid and Palma.

Many of those visiting will look to take advantage of the excellent value that Spanish real estate offers. Marc Pritchard, Sales and Marketing Director of leading Spanish homebuilder Taylor Wimpey España, explains,

“There is so much to love about Spain and many visitors find that simply holidaying here is not enough. They want to own their own piece of Spain by purchasing a property that they can visit time and again. With so many excellent value and high quality options on the market currently, it really is a great time for buyers of property across the country, particularly in the south and the Spanish islands like Mallorca.”

The latest data from Idinaidi, Russia’s fastest-growing property portal, demonstrates the increased Russian awareness of Spanish real estate. Spain was the most searched-for foreign country on the site during March, accounting for 24% of all overseas searches. The majority of Spanish searches were split fairly evening between apartments (46%) and houses (43%).

The most popular property of all during the month was an apartment building in the charming Mijas area of the Costa del Sol. The Costa Blanca was another popular location, while Mallorca and Barcelona saw the biggest increases in searches, with both areas resulting in search rises of more than 200%. Idinaidi COOCarlo Walther comments,

“Spain is understandably popular as a holiday and second home destination for many Russian buyers. Winters here are long and hard. Having a Mediterranean bolthole and being able to exchange snow for sun can make all the difference. Spain’s golden visa scheme also offers its own attractions to the Russian market as more and more buyers look for good value properties in the sun that have potential as retirement destinations in the future.”

As the ruble falls, Russians look further afield to emerging markets for second property purchases

As the ruble falls, Russians look further afield to emerging markets for second property purchases

Russian Federation

2014 hasn’t been particularly kind to the ruble. Russia’s national currency has fallen by about 10% since the start of the year, reaching a 5-year low against the US dollar and the Euro earlier this week according to the Central Bank of Russia (CBR).

  • Ruble reached a 5-year low on Monday 3rd March 2014 (CBR)
  • 88% increase in searches for homes in UAE (Feb – March 2014, Idinaidi.ru)
  • Turkey remains the most searched for emerging market on Idinaidi.ru 

With policymakers and most analysts agreeing this trend will continue into 2014, not only the stock markets but also potential international property buyers are set to be affected but how?

Historically Russian international property buyers have sought to purchase second homes in popular western locations such as prime central London, New York, Paris and Southern Spain but now, due to the weakness of the ruble, buyers are looking elsewhere to emerging markets where their money will go further.

According to the latest data from Russia’s fastest growing international property portal, Idinaidi, the greatest increase in searches for international property destinations outside of these traditional buyer strongholds were for homes in the United Arab Emirates (UAE) up 88% over the last month, Morocco up 66%, Montenegro 28% and Thailand 26%.

With many Russians more affluent than ever, the dream of owning a second home abroad can now become a reality even if you aren’t an oligarch. Further data from Idinaidi reveals that while budgets for traditional destinations often stretch into the tens of millions, more modest pockets can still secure property in emerging destinations.

The average property searched for in Morocco for example was priced at EUR 60,000, rising to EUR 100,000 in the UAE and EUR 150,000 in Thailand.

Turkey, one of the most popular tourism destinations attracting 2.8 million Russians in the first three quarters of 2013 alone, remained the most searched for emerging market on Idinaidi. Search volumes for Turkey were higher than all other emerging markets combined with the most sought after destinations being Alanya, Antalya, Kemer, Bodrum and Istanbul.

Carlo Walther, Founder and COO of Moscow-based Idinaidi, comments,
“The declining strength of the ruble is mainly affecting the Russian international property buying mass market. Buyers are becoming less conservative and as our search levels reveal, we see more Russians interested in cheaper destinations such as Turkey where the currency has also been under pressure.

“These destinations however can´t always compete with more traditional second home markets such as Spain and Bulgaria. Search volumes for these locations is still growing albeit it slower than we have seen in recent months.”

For more information on where Russians are buying property overseas, visit Idinaidi today at www.idinaidi.ru.

Editor´s Notes:
Idinaidi – Property Rental and Sales Portal, Russia

Idinaidi is Russia´s national real estate website and the fastest growing property portal in Russia. It lists sales, letting and new project listings, mortgage information, a question and answer forum, sales price data, a professional directory and a blog, as well as an international property section.

Launched on 1st February 2013, the site has over 600,000 listings and is used by over 7,000 registered professionals in 120 cities. In 2013 the site was used by over 9 million property hunters, and the site currently receives over 1.4 million visits each month.

Idinaidi has the largest direct coverage of the Russian mortgage market, with the direct participation of banks representing 87% of the market. It also boasts the most read real estate blog in Russia, as well as being the most followed real estate site on the country´s social networks.

Russia has a population of 142 million people, 116 million of who live in the European (western) part of the country. It has 38 cities with over 500,000 inhabitants, 13 of which have over 1 million.

For more information visit Idinaidi at www.idinaidi.ru.

Bricks and mortar top of the shopping list for world’s wealthiest, new reports reveal

Bricks and mortar top of the shopping list for world’s wealthiest, new reports reveal

Russian Federation

The impact of high net worth individuals on global property markets has long been recognised, but now two newly released reports have thrown the figures into sharp focus. According to the annual Knight Frank Wealth Report, the number of ultra-high net worth individuals across the world rose by 3% during 2013. The increase means the number of people with more than US$30m in assets has now reached over 167,000.

  • 59% increase in ultra-high net worth individuals since 2003 (Knight Frank)
  • Russia is now home to 111 billionaires (Forbes)
  • €42m home in Notting Hill attracting particular attention from Russian buyers (Idinaidi)

The astonishing figure represents an increase of 59% in the past decade, while the same report predicts a further increase of 28% in the decade ahead. It seems the world – or the top 1% of it, at least – is getting richer.

The latest annual ranking of global billionaires from Forbes certainly concurs. According to Forbes there are now a record 1,645 billionaires. To make it into the top 20 ranking, an individual now needs some $31bn in his pocket, compared to a measly $23bn last year – a significant jump in just 12 months. The US boasts the most billionaires (492), while Russia came in third, with 111 individuals making the cut for the 2014 list.

The result has been an increased number of Russians eyeing up property overseas. While New York and Paris are popular choices, London remains the firm favourite with Russian buyers, with Knight Frank identifying them as the biggest foreign buyers of homes valued at over £1m in the capital during 2013. In total, Russian buyers spent more than £500m in London over the course of the year.

It’s not just wealthy Russians who are looking to London either – Knight Frank’s 2014 Global City Survey confirmed the English capital as the most popular city on the planet with wealthy buyers during 2013. Residential property was identified as the biggest item of discretionary spending for ultra-high net worth individuals, with almost 30% of their wealth accounted for by their main home and any second homes.

In fact, nearly one third of ultra-high net worth individuals living in Russia are looking to purchase a new home in 2014, while 37% are considering permanently changing their domicile or country of residence.

The UK is considered the top destination for those seeking a new domicile and when it comes to locations, Knight Frank’s Prime International Residential Index recognised London as the third most expensive property market in the world, with $1m getting buyers a mere 25 square metres of space. Russians considering buying in London can compare this with what they can get in Moscow, which ranked as the ninth most expensive market and where the same amount will result in 43 square metres.

Industry expert Carlo Walther, COO of Russia’s fastest-growing property portal, Idinaidi, comments on the recent developments,

“London has long been a popular choice with Russian buyers. Over 80% of the searches for UK real estate on Idinaidi are for London properties. Though Russians can get more for their money in Moscow – and the recently listed$82,000 per month Moscow apartment has certainly attracted considerable attention – luxury London apartments and houses remain top of their list of aspirations when it comes to owning homes overseas.

“Belgravia, Kensington and Chelsea are three of Russian buyers’ favourite areas of London. In fact, the most viewed overseas property on Idinaidi in London 2013 was a one bedroom apartment, overlooking the River Thames, for a price of €1m.”

For more information visit Idinaidi at www.idinaidi.ru.

AB Property Marketing appointed to represent fastest growing Russian property portal, Idinaidi

AB Property Marketing appointed to represent fastest growing Russian property portal, Idinaidi

Russian Federation

Please find following press information for immediate release, you can also view the release in the ABPM Media Centre here: http://www.abpropertymarketing.co.uk/html/news_story.php?id=1325

If ever there is an opportunity for a nation to showcase its wealth on a global stage then the Olympic Games is it. And as hosts of the XXII Winter Olympic Games, Russia is doing just that.

The fact that these are the most expensive Olympic Games in history coming in at $50 billion, is reflective of the vast amounts of wealth held within this nation and the desirability of foreign companies to secure their serving of this ‘Russian caviar’.

International real estate developers and agents are particularly keen to tap into this highly lucrative market as the fondness of wealthy Russians to own a second home in Europe and further afield in the Middle East is well documented.

The latest data from Knight Frank in facts reveals that Russians bought 8.5% of properties in London worth more than £2million between March 2012 and March 2013 with appetites rising quickly for luxurious second homes in Spain, Cyprus, Bulgaria and Egypt.

This is a trend which Carlo Walther, former head of Rightmove Overseas and now COO of Idinaidi, the fastest growing property portal in Russia, is experiencing first hand. From his offices in Moscow he comments,


“Russian demand for overseas property is booming, and Russians are already well established as the number one buyers in Bulgaria where over 350,000 holiday homes have already been bought by Russian nationals.

“We’ve seen traffic to our overseas section grow by over 50% month on month since launch.  The top locations are Bulgaria, Turkey, and Spain. Owning a second property outside Russia is still deemed a sign of success and the demand shows no sign of abating.”

With that in mind and in order to supply these hungry Russian eyeballs with ever more global property choices, Idinaidi has appointed leading international property PR agency, AB Property Marketing to spread the word amongst agents and developers in the industry.


Charlotte Ashton, MD of ABPM, comments,

“The team and I are delighted to be working with Idinaidi; since the economic downturn began we have seen the rise of the Russian buyer both here in prime central London as well as further afield in top destinations such as Marbella, Paphos and the Black Sea. From speaking to developers and agents across the industry, successfully tapping into the Russian market is high on their agendas for 2014 and now with Carlo’s overseas property portal experience and expertise, Idinaidi presents the ideal lead generation solution.”

For those working within the media, Idinaidi too can offer a rare, impartial insight into the Russian market and buying trends. Boasting over 560,000 sales and rental listings not just in Moscow and St Petersburg but 120 cities across Russia and beyond from 7,000 registered professionals, their market data is second to none.

Combined with being the home of the most read real estate blog in Russia, as well as being the most followed real estate site on the country’s social networks, Idinaidi is an invaluable tool for journalists looking for the latest, on the ground information on the Russian market and its buyers.

To find out more visit Idinaidi today at http://www.idinaidi.ru/; you can also follow them on Twitter or Like them on Facebook.

As the Sochi Olympics come to a close, which countries are the real winners for Russian property buyers?

As the Sochi Olympics come to a close, which countries are the real winners for Russian property buyers?

Russian Federation

As the closing ceremony of the XXII Winter Olympics and Winter Paralympics approaches in Sochi, participating countries are frantically counting their medals in order that the overall victor can be declared. Yet while the media’s focus has been on those being recognised for their sporting prowess in Sochi, Russia has been creating an entirely separate table of global winners through its citizens’ overseas property interests. So which countries are the biggest winners?

  • Gold for Bulgaria as Russians become its largest source of overseas buyers (Idinaidi)
  • Turkey attracts second largest number of Russian buyers, thanks to 3.6% projected growth in 2014 (EBRD)
  • Spanish property searches are up by 55% in the last month (Idinaidi)

Taking home the gold – Bulgaria
Located almost directly westward across the Black Sea from Sochi is Bulgaria. Nearly 350,000 Russians are estimated to currently own properties in Bulgaria and the number is estimated to be growing by around 10% each year.

Carlo Walther, COO of Russia’s fastest-growing property portal, Idinaidi, comments,
“Bulgaria has been attracting Russian interest in its property market for some time, to the point that Russians are now the main source of overseas buyers in Bulgaria. Real estate there is still fantastic value, making it a popular choice with buyers with budgets typically around €60-70k.

“Bulgaria is also close enough to Russia that those buying properties there can benefit from easier access to home than from many other countries. We’ve witnessed a snowball effect there in recent years – as increasing numbers of Russians have bought property there, even greater numbers have been begun to view Bulgaria as their destination of choice, encouraged by the strong community ties that exist there.”

For the silver – Turkey
Long established as Russians’ favourite holiday destination when it comes to holiday homes overseas, Turkey has become increasingly popular with Russian buyers in recent years. With beautiful scenery, hot summers, mild winters and easy access to the sea from pretty much anywhere in the country, Turkey is perhaps unsurprising in its popularity. As with Bulgaria, it benefits from close proximity to Russia, making it popular with those whose budgets are less eye-watering than London’s Russian millionaires.

Property in Turkey is cheaper than in many parts of Russia and the cost of living is low. While the super-rich may be enjoying their view of the Thames or Central Park, many Russians with more modest expenditure limits are looking to take advantage of the capital gains made available by a growing economy (EBRD’s latest Regional Economic Prospects report has projected 3.6% growth for Turkey in 2014). The enhanced prestige of owning a second home abroad is also not lost on many of the Russians who are looking to Turkey as their preferred overseas location.

In bronze position – Spain
A little further afield, Spain has captured the attention of Russians looking to take advantage of its sun-drenched location, depressed property prices and golden residence programme. Idinaidi’s Carlo Walther explains,

“Spain is seen as enticing to many Russians due to its ‘golden visa’ arrangement, which permits non-EU citizens to obtain residency for themselves and their immediate family in return for investing a significant amount of capital.”

Searches for Spanish property are up by 55% in the last month, demonstrating the Iberian country’s importance in the eyes of Russians looking for second homes or for a permanent residence in Europe.

And the runners up are…
According to Idinaidi’s Carlo Walther, a number of other overseas locations are also popular with Russian buyers, including Greece and Montenegro. He comments,

“The overseas property market has been attracting Russian attention for a number of years and we’ve found that Idinaidi’s overseas listings are particularly popular with those looking to buy a second home in the sunshine, as well as with Russians who are planning to emigrate. Though the oligarchs may be grabbing the headlines with the vast sums they are prepared to pay in cities like London, Paris and New York, the real story is that of the hundreds of thousands of middle-income, budget-conscious Russians who are snapping up bargains overseas in places like Bulgaria, Turkey, Spain, Greece and Montenegro.”

So while the Sochi Winter Olympics and Paralympics continue to gather momentum, it’s clear that Russia will go on producing winning countries long after the closing ceremony draws to an end.

For more information visit Idinaidi at www.idinaidi.ru.

AB Property Marketing appointed to represent fastest growing Russian property portal, Idinaidi

AB Property Marketing appointed to represent fastest growing Russian property portal, Idinaidi

Russian Federation

If ever there is an opportunity for a nation to showcase its wealth on a global stage then the Olympic Games is it. And as hosts of the XXII Winter Olympic Games, Russia is doing just that.

The fact that these are the most expensive Olympic Games in history coming in at $50 billion, is reflective of the vast amounts of wealth held within this nation and the desirability of foreign companies to secure their serving of this ‘Russian caviar’.

International real estate developers and agents are particularly keen to tap into this highly lucrative market as the fondness of wealthy Russians to own a second home in Europe and further afield in the Middle East is well documented.

The latest data from Knight Frank in facts reveals that Russians bought 8.5% of properties in London worth more than £2million between March 2012 and March 2013 with appetites rising quickly for luxurious second homes in Spain, Cyprus, Bulgaria and Egypt.

This is a trend which Carlo Walther, former head of Rightmove Overseas and now COO of Idinaidi, the fastest growing property portal in Russia, is experiencing first hand. From his offices in Moscow he comments,

“Russian demand for overseas property is booming, and Russians are already well established as the number one buyers in Bulgaria where over 350,000 holiday homes have already been bought by Russian nationals.

“We´ve seen traffic to our overseas section grow by over 50% month on month since launch. The top locations are Bulgaria, Turkey, and Spain. Owning a second property outside Russia is still deemed a sign of success and the demand shows no sign of abating.”

With that in mind and in order to supply these hungry Russian eyeballs with ever more global property choices, Idinaidi has appointed leading international property PR agency, AB Property Marketing to spread the word amongst agents and developers in the industry.

Charlotte Ashton, MD of ABPM, comments,
“The team and I are delighted to be working with Idinaidi; since the economic downturn began we have seen the rise of the Russian buyer both here in prime central London as well as further afield in top destinations such as Marbella, Paphos and the Black Sea. From speaking to developers and agents across the industry, successfully tapping into the Russian market is high on their agendas for 2014 and now with Carlo’s overseas property portal experience and expertise, Idinaidi presents the ideal lead generation solution.”

For those working within the media, Idinaidi too can offer a rare, impartial insight into the Russian market and buying trends. Boasting over 560,000 sales and rental listings not just in Moscow and St Petersburg but 120 cities across Russia and beyond from 7,000 registered professionals, their market data is second to none.

Combined with being the home of the most read real estate blog in Russia, as well as being the most followed real estate site on the country´s social networks, Idinaidi is an invaluable tool for journalists looking for the latest, on the ground information on the Russian market and its buyers.
To find out more visit Idinaidi today at http://www.idinaidi.ru/; you can also follow them on Twitter or Like them on Facebook.

Going for Gold – Sochi property market benefits from the Olympic effect

Going for Gold – Sochi property market benefits from the Olympic effect

Russian Federation

February 7th 2014 will see the opening of the most expensive Olympic Games in history, when the $50 billion XXII Winter Olympics and Winter Paralympics begin in the south-west Russian resort city of Sochi.

  • Russia’s fastest growing real estate portal sees Sochi searches up 177% in one month (Idinaidi)
  • London’s Olympic Park area property values rose 45% from 2005 to 2013 (Lloyds TSB)
  • Almost 2 million properties built in Russia last year (Idinaidi)

Perched on the Black Sea coast, Sochi is one of the few areas of Russia to enjoy a subtropical climate, meaning it has long been one of the country’s most popular destinations for holidaying Russians. Now, thanks to the huge investment and considerable excitement resulting from the Olympic Games, Sochi is looking to take its place on the global tourism stage.

Standing as far to the south as Nice, on the French Riviera, Sochi’s balmy climate and palm tree-lined walkways make it one of the nation’s most attractive cities and often dubbed, “the St Tropez of Russia.” A plethora of cultural attractions and delightful parks add to Sochi’s charms, as do the world-class sporting facilities that the Olympic development – the largest construction project in post-Soviet Russia’s history, according to The Economist – has provided.

The impact of the Olympics on Sochi’s property market has already been noticeable. From Russians looking to purchase second homes, to tourists wanting rental property during and after the Games, Sochi is the hot property location in Russia at the moment.

While interest has been steadily rising over a number of months, it has rocketed in the last few weeks. Russia’s leading property portal Idinaidi had reported a significant increase in searches for Sochi property on its site during the past several months, with a 177% increase in the last month alone. Idinaidi’s COO, Carlo Walther, comments,

“The Sochi Olympics effect has been dramatic, with both domestic and international property searches booming over the last several months. Sochi has some fabulous new developments, as well as more traditional Russian properties, so they city has something to suit every taste and budget.”

Looking back to the London 2012 Olympic Games, the long-term effect on property prices is clear. Data from Lloyds TSB showed that property prices in the 14 postal areas closest to the Olympic Park rose by an average of £92,000 between 2005 and 2013 – representing an astonishing 45% growth rate.

It’s a trend that Idinaidi, as Russia’s fastest growing real estate site, is seeing replicated in Sochi. Carlo Walther continues,

“We’ve seen in London that house prices in the 14 areas closest to the Olympic Park have risen by an average of 10% since the Games were held. This is one of the reasons that there is so much interest in Sochi currently, a well as during the past several months – not only for the rental opportunities arising during the Games, but also for the capital gains to be made in the years following.”

With over 8,500 apartments, 400 houses and 200 plots of land listed – apartments being by far the most popular form of accommodation with Russians – Idinaidi is excited to see the impact that the Olympic Games are having on Sochi’s property market.

As a portal covering the whole country, the company is also interested in the effect that the Olympics are having on the wider sector. With the private property market still in its infancy in Russia, each year brings new developments. 2013 saw some 4 million private transactions take place and almost 2 million properties built. 2014’s figures promise to be equally fascinating.

With the world’s eyes on Sochi over the coming weeks as Olympians pit their sporting abilities against each other, it is perhaps the underlying story of Russia’s emerging property market that will be the ultimate winner.

For more information visit Idinaidi at www.idinaidi.ru.

2009 Global sales tour by international French agency

India Russian Federation

Promoting Nice real estate worldwide, Kirkor Ajderhanyan, owner of Agence 107 Promenade has completed a world tour to attract new foreign markets.

Nice, like all destinations hasn’t been immune to the economic downturn. In 2008 property asking prices reduced, however due to the limited supply on the Promenade des Anglais and high demand for the glamorous sea front lifestyle Nice offers, prices have remained reasonably stable.  Mr Ajderhanyan comments, “Despite the market, we still can’t simply wait for customers to ‘pop in’, in this era of global real estate, it is essential to make the effort to visit potential new markets and forge relationships with new customers.”
Mr Ajderhanyan has recently completed a world tour including visits to Eastern and Central Europe, flying over to Asia, and to both North and South America; an exemplary sales effort for the overseas property industry. And not one step has been without his pocket bible, ‘How to sell efficiently in 60 countries’, an essential reference book listing greetings and business practices worldwide.
 
Embracing India from Bombay to New Delhi
The new billionaires in India are eager to invest abroad; one recently purchased the one and only private estate on the Lerins Islands facing Cannes for 43 million Euros. “They have access to extremely large budgets and are prepared to spend millions of Euros to buy exceptional properties in relatively stable markets and micro markets such as the south of France”, says Mr Ajderhanyan.
 
In Saint Petersburg and Moscow
There has long been a love affair between the French Riviera and the Russians and they are now coming back in droves. Not only are the rich Russians are investing in French property but the new booming upper class is attracted as well.
 
News from Beijing
“Unfortunately it seems that the Chinese do not like to suntan so they tend to opt for cooler climates such as Canada or the West Coast of the USA. In France the Chinese are buying Parisian apartments and vineyards in the countryside but very little on the south coast”, yet Mr Ajderhanyan remains optimistic and is insistent on maintaining presence in this market with such enormous potential.

www.107promenade.com