An increasing number of Russian homebuyers have shown a strong interest in Thailand-based properties, according to online property portal Tranio.ru’s latest analysis.

Investors are mainly looking for primary properties in Thailand, where 72% of the respondents said they favour Thailand’s warm climate as the top reason for purchasing a property.

Based on the Russian Overseas Property Buyers 2014 survey which involved 432 agencies and private realtors from 39 countries, the most popular properties in Thailand are from the low-end category, which is priced from USD54,000 to 135,000.

“The main reasons for choosing one country or another to buy property is favourable climate and weather, attractive prices for property, and the possibility to obtain a residence permit.” 

High-end and luxury resort properties also comprises a “substantial segment of sales” such as those in Phuket, where a premium villa in the Karon Beach area could sell for as much as USD1.40 million.

Many respondents (43%) said that they also search for or bought real estate in Thailand because they have relatives or friends in the country, but a sector of wealthy investors prefer neighbourhoods where there are no Russian-speaking residents.

“Rich customers prefer to settle away from their compatriots. Our clients include just 15 to 20% of Russian people; on the whole, Russian speaking customers on Phuket range from 30 to 50%,” Sergey Nesterenko, CEO of Vista del Mar Phuket, said in the report.

Source: Property Report