Obtaining citizenship when buying a real estate in Russia is impossible. However, the ownership of a house or an apartment can be an added advantage when considering citizenship or residence permit.
Category: Real Estate
What are non-obvious problems that a foreigner who plans to buy an apartment in Russia will have to face? Below are the most common questions that are often asked by non-residents planning to purchase real estate in Russia.
Affordable housing in Russia
Russia is ahead of Western countries in terms of housing affordability. However, the quality of the urban environment and the level of comfort of housing are low.
New development in 2020 will rise in price by 10%, apartments on the secondary market by 6%. Such a forecast was made by real estate portal CIAN analysts. In some new buildings, where apartments are in demand, the price increase may reach 15%, developers say. The cost of housing will increase due to the transition to escrow accounts, lower supply volumes, and mortgage rates.
More than half of foreign tenants are residents of China, Taiwan, Japan, and India.
The average size of a discount that can be obtained when buying an apartment in the capital of Russia is 4% and only 6% in the Moscow region.
Only a third of the respondents are planning to move into their own apartment.
In 2018, the offices were mainly rented by representatives of online trading retailers, consultants say. Previously, the main tenants were banks.
How to choose an apartment in Russia
In Russia, the parameters people think of when starting the search for an apartment on the secondary market are price, area, year of construction and the material of the house.
One of the prerequisites for price increases is a reduction in the number of offers on the secondary housing market.