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How has the Ukraine crisis affected the property market?

Posted by: In: Real Estate 02 Apr 2014 Comments: 0 Tags: ,

Photo credit: John Leach

Since the annexation of Crimea, searches for property in the area have increasing “dramatically,” according to aiGroup in Russia. President Vladimir Putin signed the annexation last month, legally formalising the country’s takeover of the former region of Ukraine – bringing an end to a period of uncertainty but continuing political tensions between both countries, as well as the rest of the world.

The crisis has affected the property markets in each state, as well as those further afield. While property in Crimea now finds itself part of Russia, some buyers have evidently already begun looking for opportunities in their newly incorporated neighbourhood.

Indeed, Kim Waddoup, CEO of the aiGroup, who organise the Overseas Property Shows in Moscow & St. Petersburg, emphasises that appetite for real estate remains healthy.

Russia has long been a dominant force in overseas property markets, snapping up holiday homes on the continent, as well as wealthy estates in London for safe financial assets. Writing on Global Edge, Waddoup notes that while the number of property searches have decreased on their portal – www.1-property.ru – and the country’s search engines, that demand is still there.

“In preparing for our Moscow Overseas Property & …read more

Source: The Movechannel



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