Real Estate
By Svetlana Kononova, Special to Russia Profile
big West European cities as places to run their own property business. “The crisis forced many businessmen to reconsider their assets,” Alekseeva pointed out, “some of them who never invested money in property abroad started doing that for economic reasons.” Statistics from Just Real Consult show increasing demand on commercial and investment property, such as hotels, boardinghouses and flats for rent. For example, in Rome and Milan buying to let can earn an annual profit up to seven percent; in big German cities – up to nine percent.Apart from the profit margins, investing money in foreign real estate is attractive to many Russians because it can make it easier to obtain permanent residence in Western European countries. Although foreigners who own real estate do not receive permanent residence automatically, investors are welcome everywhere.
However, while interest in buying property abroad is on the up, some segments of the market
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