The recession in Russia caused quite a stir for many Thailand real estate agencies and property developers, but overseas property investments are still popular.
According to real estate website Tranio.com that focuses on Russian buyers, during 2015 the majority of Russian citizens (about 75 percent) preferred budget property in popular holiday destinations like Bulgaria, Greece, Spain, Thailand, Turkey and Montenegro.
Another 25 percent bought real estate for investment purposes, generally in Germany, Italy, France and the USA.
So far as Thailand is concerned, what are Russian buyers looking for?
Tranio said Russian property buyers are looking for second homes or apartments to rent, and also for permanent residences in Thailand.
Average property budgets in popular locations, according to the portal, are €50,000 in Pattaya, which equates to THB 1.94 million, while Phuket attracts a higher €90,000 – or THB 3.5 million.
Thailand’s coastline is particularly attractive during Russia’s cold winters, along with its affordable real estate prices, the low cost of living, the large existing Russian community, Russian shops, schools and kindergartens, exotic landscape and warm weather and fresh food at excellent prices.
Tranio noted that seafood and fruit are especially popular with Russians in Thailand.
