Russians mull property investments in recession-hit europe

Property investors from Russia are interested in those European countries which have been hit by the recession as well as stagnant property market. According to a recent report, Russians invest to purchase property in Europe for investment purposes and are seeing up to 12 percent annual returns.

"Buyers are attracted to Britain, Austria, France, Switzerland and Germany becasuse these countries because of their stability and low level of risk," says Igor Indriksons, head of the international investments department at IntermarkSavills, a real estate agency in Europe.

Russians investment in Cyprus too is looking up. While, many investors from other parts of Europe are a little more cautious since the economic downturn, Russian money is still being spent on Cyprus property.

According to a report in Cyprus property news, Russians Buying 40% of Property in 2010 Interest is still high from Russia with around 40% of property purchased in 2010 coming from Russia buyers, compared to 40% Cypriot property buyers and 20% from the UK who used to dominate the purchase of property in Cyprus not many years ago.

Source: Property-Magazine.eu