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Overseas Property News
Cautious Optimism from the Moscow Overseas Property & Investment Show
|It is no secret that the Russian Overseas Property Market is not as strong as it was 2 years ago. Both the country and the consumers have been hit by a range of negative situations(sanctions, currency devaluation etc) and yet there remains an air of optimism in Moscow. The streets are full, people are shopping and most restaurants remain packed!|
With our Autumn exhibitions we felt that we had hit the lowest point with a slight increase int he number of visitors, however the situation was then worsened with the Russian-Turkish situation.
With these backgrounds we opened the Moscow Overseas Property & Investment Show last Friday in Moscow with trepidation. There were less exhibitors but, as I have personally experience many times in Russia) most experts had smiles on their faces as less participants equals less competition!
As the doors opened on Friday a steady stream of visitors arrived at the exhibition and keep coming during the 2 days. On talking to many of our regular participants I could feel this 'cautious optimism' with many experiencing very strong enquiries, so maybe these miserable and difficult times are now improving.
I have personally experienced Russia recovering from 2 economic 'crisis' and it always rebounds. I am confident that it will be the same this time and with the Moscow International Property Show taking place in April I will have a better view on the market.
My advice: Don't give up on this market! Many old hands know what happens and that recovering always follows a decrease. They are all still here and enjoying this resurge of interest!
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