Most Russians acquire real estate abroad in order to have their own space for a comfortable rest. About ninety -five percent of real estate transactions abroad using a mortgage falls on European countries.
Mortgage rates on loans issued for the acquisition of real estate abroad are gradually increasing, and in the future they will also increase. Last year, they increased by 0.2-1 percent, reaching in the Czech Republic-seven and a half percent and in Switzerland-two and a half percent. The requirements for mortgage borrowers are significantly tightened, today the applications are considered much longer, the number of refusals in the mortgage has also increased.45 percent of Russians are acquired by real estate abroad for rest. Thirty percent buy it for rental in order to receive passive income. The rest do this for teaching children, obtaining a residence permit, etc.
Seventy percent of real estate transactions falls on apartments, twenty -five – for villas and cottages, five – for the acquisition of land. At the same time, the average budget for the acquisition of real estate abroad has approached today to one hundred and fifty thousand euros. The Russian mortgage abroad is usually issued on the security of his real estate. This real estate can be located in Russia or beyond. A mortgage is issued in the amount of up to 85 percent of the total valuation value of the property object. These loans are issued according to interest rates, equal to eight to thirteen percent of annuals depending on the loan term.
Last year, Russians were most interested in the acquisition of real estate in the UK, Germany, France, USA, Austria, Switzerland, Israel, the Czech Republic, Latvia, as well as in Cyprus.