Below you will find answers to some of your initial questions regarding property purchase in Russia
Foreigners can buy property in Russia without restriction.
Why should I choose Russia?
A vast number of reasons lie in its vastness. Russia is the biggest country in the world, bigger than the rest of Europe and the US put together, and home to the world's largest reserves of natural resources. It is 1st or 2nd for its reserves of many resources including natural gas, coal, peat, diamonds, silver ore and forest resources (all 1st). It has huge reserves of many other resources including aluminium, platinum and nickel. Unsurprisingly Russia is the 1st or 2nd biggest producer and or exporter of many natural resources.
This makes the country almost a shoe-in for economic growth in the future, and a haven for business ventures in these fields. At the same time the wealth generation and growth will see Russia continue to develop into one of the world's great nations. With property prices having fallen around 20% (more if you factor inflation), now is a good time to choose property in Russia.
What is the economic situation?
The economy is strong. After the recession in 2009, which brought a 7.8% reduction in GDP, the economy has been growing strongly. According to the IMF GDP growth in both 2010 and 2011 was 4.3%. and growth in the first 2 quarters of this year was 4.9% (Q1) and 4% (Q2). Between 2000 and 2010 GDP growth averaged 5.3%, even with the 7.8% fall in 2009, this is well above the global average.
How do I travel to Russia?
There are literally hundreds of Airports in Russia, including 8 in Moscow alone. Between them you can pretty much travel to Russia, direct or with few connections from anywhere in the world. Direct flights from the UK, US and Europe are plentiful to Moscow and St Petersburg as well as other well known locations.
Is a visa required to enter Russia?
Residents from most countries can enter Russia without a visa for short stays of 30 – 140 days depending on the country. For full details of these countries visit this link.
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