Russia Mortgage
If buying properties for sale, Russia mortgages are currently very limited. The market for mortgages in Russia was only established in 2005, but high demand from property investors in Russia means mortgages are growing. In 2007, only 14% of real estate in Russia was purchased with a Russia mortgage, but this figure is expected to increase to 50% in 2008, an indication of the huge potential growth in Russia property investment.
The lending market is open to foreigners, but it is essential to obtain up-to-date Russia mortgage information from an independent lawyer. Your Russian legal adviser can also provide you with information on alternatives to Russian mortgages.
Russia Tax
The process for purchasing a property in Russia is different to that in many countries and you should take independent advice, particularly with regard to Russia tax information. There are several Russia property taxes and fees to take into consideration, including notary and registration fees.
Costs for buying Russia real estate are high, although most of the costs are paid by the seller. Consult a Russian lawyer for advice on this. For further Russia mortgage, tax and ownership information, click here to download the Russia Investment Property Guide.
