will increase despite the current financial turndown that has hit the financial markets.

A cross section of subscribers were asked if the current situation would change their plans to buy property abroad:-

48% replied that they would buy within the next 6 months

33% replied that they would buy within the next 12 months

19% replied that they would delay their purchase

The values of the properties being considered are:-

57% are looking to invest up to €.280,000.-

28% are looking for property up to €.1 million

15% are looking for property over €.1 million

“The main difference between Russia and the rest of Europe is that Russian buyers have savings that they want to use to invest quickly in property. Many are concerned that some banks might not survive and there is also a great deal of concern that the Rouble will be devalued” says Kim Waddoup one of the leading figures in the Russian International Property Market. “Potential buyers are not looking for credit, just to invest the capital that they have now”

However Russian buyers also appreciate that many markets are depressed and 91% indicated that they would be looking to buy at a discount.

Statistics released by 1-property.ru have indicated that the number of visitors and requests have increased in the last months and initial reports from early January show this trend continuing.

International Residence Magazine is Russia’s leading International Real Estate magazine with 35,000 copies. Printed bi-annually the Spring/Summer issue is now being prepared and the deadline for all materials is 20 January. Further details on International Residence can be found at http://InternationalResidence.ru