On Real Estate In Russia And Europe

It has not come as a surprise that the real estate value in the eastern part of Europe

and Russia have not been a victim of the economic crisis that has affected almost every part of the world. The stringent rules of finance have lead to the safekeeping of this zone of investment and it is by far, one of the best places to invest in given the current state of affairs. The value of the real estate in Russia and Eastern Europe is not bound to increase in the years to come.

The countries that have emerged from the breakage of USSR are on the road to becoming a free market economy which involves a lot of planning and building that needs to be done. The locations that these places promise are an absolute beauty. The place is heavenly with beautiful natural habitat and the wonderful coastlines. Commercially, some people believe that it is not the right time to buy property in parts of Russia because of the declining population which would result in a reduced demand for residential and market complexes.

The way to go about buying real estate is fairly simple. The foreign citizens have the right to buy property in the countries and the rights enjoyed by them are the same as the localities. There are no ownership hassles. On account of the property, the owners have to pay a small property tax, which in not unusual.

One has the option of renting out the owned real estate. The owner is supposed to pay a specific percentage of the rental income to the government as per the laws in that country. Generally, the amount is around 25%. There are different set of rules in case you wish to sell the property. The amount that needs to be paid depends upon the number of years for which the place was owned.

It is estimated that the times are changing and the real estate in these areas are profitable because of the less developed credit system and the high rate of competition between the creditors. As the countries develop, the demand for buildings would further increase. There are negatives that need to be considered too. Many have experienced the troubles with the government of Russia on property rights.

Even though the prices vary to a certain extent from one place to another, overall the prices have increased in the recent times. In some cities, the prices have risen as much as 10 times in the years. Moscow is considered to be the most expensive place in Russia where as Monaco has bagged the top spot in Europe.

If you enough money to invest and plan to explore a new area far from your current location, eastern Europe and Russia are the best places to go. The climate is cool and there is no heat wave that might give you a run for your life. The density is not much which is a bonus for people who do not like crowded places and most importantly, the prices are cheap.

by: Tony Philip

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