Success at Moscow's largest property exhibition

NewEstate is pleased to report that six extra sales were achieved at the InvestShow property exhibition in Moscow last weekend, as such the 10,000 Euros cost invested by NewEstate was very much worthwhile. Preceding the exhibition a further four sales were achieved as Russian buyers panicked to reserve the best priced properties they feared would be sold during the show. A rare happening in this market, but it means that at least ten extra vendors have sold this month due NewEstate’s attendance and investment. Due to this supplement of sales we expect to see a 40% increase in March sales as a result.

The exhibition confirmed that the typical Russian budget range is 15-45,000 Euros, with the vast bulk of demand asking for St Vlas, Ravda, Nessebar and Sunny Beach furnished 1 bedroom apartments for 25,000 Euros. A surprisingly high level of demand was seen for Varna, but budgets were the same and generally these buyers learn that Varna region is not affordable to them and ultimately opt for Sunny Beach where prices are lower and in line with their demand. Generally there was minimal interest in ski properties, although one of the sales made was actually for a Bansko studio.

Developers offered extreme competition for our private vendors as their cut prices dominated the exhibition with Sunny Beach studio offers for 10,000 Euros. We hope that these buyers will book the viewing trips, get to Sunny Beach, realise these offers are not quite what they expected or what they want to purchase, then view with independent agents and settle for better value resale properties from private sellers.