Russians are purchasing real estate in the EU, primarily in France.

The number of real estate transactions by Russian citizens in the EU has remained steady over the year, reported Intermark Global. Additionally, the share of European countries in the total volume of foreign purchases rose from 20% in 2023 to 26% in 2024.

The highest number of purchases occurred in France, representing 37% of all European transactions. Demand there surged by 80%. Experts attribute this to the country’s welcoming policies towards Russians, including issuing tourist visas and providing business opportunities. Spain has emerged as the second most popular destination, with transactions increasing by 50%, accounting for 20% of all purchases by Russians in the EU. In contrast, demand for real estate in Portugal and Hungary has dropped significantly – by about 80%. This decline is linked to the more complicated permanent residence permit procedures.

Notably, 90% of European real estate purchases are made for immigration purposes. However, the motivations for buying are not always centered on relocating; many buyers utilize these properties to open accounts in European banks, establish a business, or facilitate border crossings.