Jones Lang LaSalle Hotels (JLLH) Russia have revealed their top ten holiday home destinations among their Russian clients.
Speaking at 5th Cyprus Real Estate conference in Nicosia, Stephane Meyrat, VP, Hotel Advisory Services for JLLH Russia named Bulgaria (Varna-Burgas), Spain (Costa del Sol/Blanca), France (Riviera, Nice, Côte d’Azure), Montenegro (Adriatic Coast), Croatia (Istria), and Cyprus (Limassol and Paphos) as the most popular locations with customers.
Meyrat predicted that the bulk of future demand would come from the €100,000 to €200,000 range. “We believe that the greatest potential for sales activity is from Russians with budgets of €200,000-€350,000 for 2-3 bed villas or apartments (80-120 sqm) by the beach and mass tourism buyers with budgets of €100,000-€200,000 looking for coastal city or town apartments (50-80 sqm),” he concluded.