The Russian International Property Market
As this market hardly existed prior to 1990 it has developed exceptionally fast but has not followed established, 'normal' patterns.
Excessive and highly publicised purchasing in the early 90's caused a great deal of suspicion as to the legality of the funds being used.
Since the 1998 crisis Russia, especially Moscow has changed dramatically. Political stability and increased International acceptance has fuelled a substantial economic boom.
Russian citizens are now looking for International Property in increasing numbers and many are creating portfolios for investment.
The market still does not follow traditional methods but the returns are high for Developers and International Real Estate specialists who recognise the particular requirements and traditions of this market place.
The Russian Economy
Every day one reads about positive news of the Russian economy and most of these are confirmed by International professionals.
The Gross Domestic Product (GDP) for the year 2004 has now been raised for the third time to 5.4%. The economy grew 7.1% in the first five months of 2004. This means that the Russian economy is set to grow to more than $.410 billion a fifth year of consecutive growth.
Real Estate sales in Russia continue to increase fuelling a continuing building boom.
The positive GDP Growth and a now stable economy result in a positive real disposable income growth. Sales of cars in Russia are increasing as are luxury goods. There are many Russians now looking to purchase International property for vacations and especially investment due to the minimum pension provisions.
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