Russian Big Spenders To Change Overseas Property Market

London 28/11/07-The UK overseas property industry magazine Overseas Property Professional (OPP) reports on the new bread of international property buyer that is set to make a huge difference to the industry in 2008. These new buyers are Russian and they have already turned the London housing market on its head.
OPP report that Kim Waddoup who is the managing director of aiGroup will be the first Russian real estate agent specialising in overseas property to exhibit at OPPLive07 . The exhibition which is taking place at London ExCel on 4th and 5th December 07  puts together overseas property agents, developers, independent financial advisors, and PR specialists.
Kim Waddoup will offer some unique insights into the Russian buyer promising to reveal to UK agents the best way to market their properties to the new bread of wealthy buyer
Kim Waddoup. “Due to the expanding economy, salaries are increasing in Russia and a growing number of people are looking for investment opportunities abroad. Many are looking for a safe investment that will increase in value; others are still looking for a classic home in the sun to escape the long Russian winters”
Meanwhile Russian billionaires are spreading their property interests beyond central London, Lucian Cook, head of residential research at Savills, said: “Russian buyers are an emerging source of demand beyond central London. They appear most comfortable in more suburban locations, very secure but not too far from town centres and London. “Places like St George’s Hill near Weybridge and the Wentworth Estate in Surrey are definitely the hotspots.”
One home suitable for a Russian millionaire is being offered for sale at overseas property portal . The Luxury Essex house has a price tag of 5 Million pounds and is said to be the largest house built in recent times in the UK.

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