In Alicante, the euros are flowing in from Moscow. Russians have become the saviors of the Mediterranean province's property market and tourism sector, and now that Cyprus - their former Eden - has been bailed out by the EU, Russians are turning to Alicante to lay down their money. First they come on vacation for a few days to check out the beaches and the climate on the Costa Blanca, and later they return to purchase a holiday home, cash in hand - no down payments, no mortgages necessary.
Clients from Russia have overtaken the British in the foreign home-buyer ranking. Half of the 7,000 residences sold to non-Spaniards in Alicante province last year went to Russian families, a market that represented less than five percent of the total just four years ago.
Russian tourism is the type that has grown most on the Costa del Sol during the past year. It has become a strategic market and its importance could rise still further if one of the bureaucratic processes which burdens it could be eradicated. The government wants to cancel the requirement for tourists from Russia to have visas and it is working hard within the European Union to achieve this objective.
The XVI real estate exhibition Barcelona Meeting Point (BMP)
To be held from 17 to 21 October at the Fira Montjuïc in Barcelona, has already confirmed the participation of 74 Russian investors and estate agencies, and the list is at disposal of the real estates who have confirmed their presence in ‘Russian Meeting Point’.
As reported by BMP, the show will host a minimum of ten meetings 'face to face' with investors and Russian agencies, for those companies who book an exhibitor before October 10, which will cost 6,000 €.
The BMP is the only professional and international real estate exhibition placed in Spain since 1997, founded by the Consortium of Zona Franca de Barcelona (CZFB), which allows the meeting between real estate professionals, to know new investment opportunities and to get project funding, among others aspects.
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