The majority of respondents (74%) said they closed less deals with Russian-speaking buyers after the ruble devaluations of 2014–2015, but they also reported growing interest in income-generating property. In 2014, over half of all respondents (56%) noted the scarcity or absence of Russian-speaking commercial property investors. In 2015, 73% of respondents reported there were “many” Russian buyers, up from 44% in 2014.
Most Russian-speaking investors are successful entrepreneurs, owning and operating businesses in Russia and/or CIS countries. Due to the volatile financial situation in the region, they are looking for income-generating property with moderate yields and stable returns in a dependable currency.