EXCLUSIVE: Thailand was the top Asian destination for Russian property buyers and investors last year according to data from Idinaidi.ru, Russia’s fastest growing property portal.
Data from Knight Frank Phuket recently confirmed that 100 percent of the high-end market transactions on the island were made by overseas buyers, with Russians topping the list of overseas property investors.
Idinaidi.ru reported that Thailand was the seventh most popular country on the site for searches. There was a 74 percent increase in searches during February alone. A total of 32 percent of searches on the site were searching for Phuket property, while searches for Pattaya accounted for 14 percent of enquiries.
Interestingly, 61 percent of buyers were searching for property on Idinaidi were looking for apartments. The most viewed property was an apartment in Patong Beach, Phuket, for EUR55,000 (pictured). The average budget, according to the website, was EUR108,000, with 5 percent of searches looking for property priced at above EUR1 million.
Chief Operations Officer Carlo Walther told DDproperty.com: “Thailand has done a fantastic job in marketing itself as a holiday destination, and is firmly established as Russians’ favourite long haul holiday destination thanks to its great beaches attracting holidaymakers from across Russia who are keen to escape Russia’s notoriously long winters.
“Given Thailand’s success in attracting holidaymakers, it’s not surprising that many having fallen in love with the destination, and its good value property is attracting Russian buyers keen to have their own place in the sun."
Andrew Batt, International Group Editor of PropertyGuru Group,
wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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