Russians are the 10th biggest buyers of Spanish real estate
Russian buyers purchased 1,916 properties in Spain in 2018. Russia is therefore the #10 biggest foreign buyer of Spanish real estate.
In other words, Russians buy 5 properties in Spain each day.
Want to see the full ranking of the Top 20 foreign buyers in Spain? Click here!
Russians represent 2,93% of foreign buyers in Spain
In percentage, Russians represent almost 3% of the foreign buyers in Spain. Indeed, as Russian people bought 1,916 Spanish properties out of the 65,400 bought by foreigners, this represented 2,93%.
Do Russian buyers purchase New Homes, or existing homes?
Although Russians prefer existing homes (81,61%), one in five Russian buyer opts for a new home when buying in Spain (18,39%).
Where do Russians buy the most?
In the region of Valencia, Russians are the #5 biggest foreign buyer with 5,12% of foreign buyers there. Indeed, this ranks them only after the UK, Sweden, Belgium, and France.
Average loan taken by a Russian buyer to purchase a Spanish property
Russian buyers took an average loan of €151,757 to buy a Spanish property. Considering how foreign buyers typically get financed for only 70% of the property price, this should indicate that the average property price was €216,795.
Market sizing: how much money do Russians invest in Spain?
- 1916 properties x €216,795 = €415 million
Russians bought for 415 million euros worth of Spanish real estate last year.
Russians and the Golden Visa program
Surprisingly, out of the 1916 Russians who bought a Spanish property last year, only 47 obtained a Golden Visa. As this is only 2,4%, it tends to show that the Golden Visa is not an important factor for Russian buyers.
How to market your properties to Russian buyers?
If you want to market your properties to Russian buyers, please consult my article dedicated to this topic by clicking here.
Do you want to read about other nationalities? Click here.
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