Russians purchase incredible 8.5% of London properties

Russians purchase incredible 8.5% of London properties

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A recent figure released by the Oxford University Press shows that the Gross Domestic Product (GDP) of Russia has increased two-fold since 1999, making it stand at the 5th largest economy in the World. Russia has always shown an interest in the UK’s property market, however the 8.5% share in London properties worth more £2million that Russia owns, came as quite a surprise. It seems that the reasons for the investments is to obtain financial security and expand the country’s economy even further.

Research has shown however, that Russia is not the sole foreign investor in UK properties. The Middle East and China have also shown a substantial and great interest in UK new builds, having been responsible for 65-70% of purchases in the past two years. Aside from the UK, Russia has also shown great interest in the Turkish property market, frequently attending property exhibitions to try their luck in top investments. Leading international property firm, Knight Knox has reported a record-breaking number of enquiries at overseas exhibitions and hope to break this record in November at two more property showcases.

Knight Knox International supplies a comprehensive number of overseas properties from beach-front apartments in Turkey to stunning villas in Egypt, and are renowned for their leading and top rated service.

Written by Sofia Kluge on Google+

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