If ever there is an opportunity for a nation to showcase its wealth on a global stage then the Olympic Games is it. And as hosts of the XXII Winter Olympic Games, Russia is doing just that.
The fact that these are the most expensive Olympic Games in history coming in at $50 billion, is reflective of the vast amounts of wealth held within this nation and the desirability of foreign companies to secure their serving of this 'Russian caviar'.
International real estate developers and agents are particularly keen to tap into this highly lucrative market as the fondness of wealthy Russians to own a second home in Europe and further afield in the Middle East is well documented.
The latest data from Knight Frank in facts reveals that Russians bought 8.5% of properties in London worth more than £2million between March 2012 and March 2013 with appetites rising quickly for luxurious second homes in Spain, Cyprus, Bulgaria and Egypt.
This is a trend which Carlo Walther, former head of Rightmove Overseas and now COO of Idinaidi, the fastest growing property portal in Russia, is experiencing first hand. From his offices in Moscow he comments,
“Russian demand for overseas property is booming, and Russians are already well established as the number one buyers in Bulgaria where over 350,000 holiday homes have already been bought by Russian nationals.
“We've seen traffic to our overseas section grow by over 50% month on month since launch. The top locations are Bulgaria, Turkey, and Spain. Owning a second property outside Russia is still deemed a sign of success and the demand shows no sign of abating.”
With that in mind and in order to supply these hungry Russian eyeballs with ever more global property choices, Idinaidi has appointed leading international property PR agency, AB Property Marketing to spread the word amongst agents and developers in the industry.
Charlotte Ashton, MD of ABPM, comments,
“The team and I are delighted to be working with Idinaidi; since the economic downturn began we have seen the rise of the Russian buyer both here in prime central London as well as further afield in top destinations such as Marbella, Paphos and the Black Sea. From speaking to developers and agents across the industry, successfully tapping into the Russian market is high on their agendas for 2014 and now with Carlo's overseas property portal experience and expertise, Idinaidi presents the ideal lead generation solution.”
For those working within the media, Idinaidi too can offer a rare, impartial insight into the Russian market and buying trends. Boasting over 560,000 sales and rental listings not just in Moscow and St Petersburg but 120 cities across Russia and beyond from 7,000 registered professionals, their market data is second to none.
Combined with being the home of the most read real estate blog in Russia, as well as being the most followed real estate site on the country's social networks, Idinaidi is an invaluable tool for journalists looking for the latest, on the ground information on the Russian market and its buyers.