With major markets around the world facing economic challenges, the Russians have emerged as major players in the overseas property investment sector.
China is now experiencing a slowdown while investors in the US are focusing on the upcoming elections. At the same time, the Eurozone, especially Spain and Greece, is facing a debt crisis.
President Vladimir Putin is unlikely to implement any measures that could dampen investment activity among Russians; hence, the middle class and wealthy citizens are expected to actively invest in overseas property.
Statistics have revealed that 70 percent of all overseas property investments by Russians take place between October and March.
Meanwhile, Moscow-based aiGroup said they have seen robust sales at their property exhibitions. The property firm organises over eight shows each year.
“When many other organisers around the world have seen their events shrink in size, here in St Petersburg and Moscow we are actually turning exhibitors away from our shows, as we just do not have any more space to sell,” said Kim Waddoup, CEO of aiGroup.
The group is slated to hold the 11th Moscow International Investment Show from 12 to 13 October, featuring 189 participating developers covering over 30 destinations.
They will also be conducting an exhibition in St. Petersburg (26 to 27 October) and Moscow (16 to 17 November), featuring 196 confirmed developers from 37 countries plus 43 companies on the waiting list.
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