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The weakened Russian ruble has led to a decrease in the number of Russian buyers of Spanish property.

Villa for sale in Marbella 300x200 - Russians turning away from Spanish propertyFalling oil prices, the decline in the currency and international sanctions against Russia over the crisis in the Ukraine, have led to Russian buyers turning their backs on Spain.

Ramón Riera, president of FIABCI - a group of 120 property specialists - told to Business Insider that Russians are not buying right now and that they are even getting rid of their Spanish properties.

In 2014, the ruble lost 40 per cent of its value against the euro and the Russian government forecasts that its economy will shrink by 3 per cent ...continue reading "Russians turning away from Spanish property"