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Buying Property (US=Real Estate) in Russia

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Posted by: Volga Trader

Has anyone advice on buying property in Russia.

I regularly go to Saratov on business and I am impressed how 2 bedroom flats (apartments) in the central part of the city were a million roubles last year and are now 3 million roubles. Giving the rouble is traded at about half the purchasing power parity buying property looks a reasonably safe bet. Actually in Saratov province, uniquely in Russia, it is possible to buy land so property development is possible.

I don't know the answers to most problems.

How to get the money into Russia?
How to get the money out of Russia after a sale?
Property taxes and utility charges?
Repairs on communal property - I believe it is a municipal function not a landlords function to repair property. I get confused messages.
Capital Gains taxes?
Special barriers against foreigners?
The need for blatt?
The need for protection?
Tenancy laws if I let the property?

Obviously I need a lawyer and an accountant to answer these questions in the end but in my experience, if you don't know enough of the answer to ask the right question such professionals tell you nothing important. Ultimately I have in mind building some chalets by the Volga for fishermen.


Posted by: Jutman

Get a lawyer. There are some english speaking homepage out there.


Posted by: AkMike

Along those same lines, Does anyone know about the same things for Ukraine?


Posted by: Jutman

I can a quick search at google:
http://www.propertyfrontiers.com

U GOOTA look here: http://www.worldrealtynews.com/reli...5 a11c6d1ccb55

http://www.inter-lawyer.com/real-es...cies/russia.htm

http://www.glo-con.com/region_direc...7&real_estate=N


Posted by: Volga Trader

Quote:
Originally Posted by Jutman


Thanks Jutman,

I wasn't thinking of a replica of the Palace of Versailles but they are not so expensive really. Outside my pocket money though.


Posted by: Ms.Smarty Pants

Quote:
Originally Posted by Volga Trader
Has anyone advice on buying property in Russia.

I regularly go to Saratov on business and I am impressed how 2 bedroom flats (apartments) in the central part of the city were a million roubles last year and are now 3 million roubles. Giving the rouble is traded at about half the purchasing power parity buying property looks a reasonably safe bet. Actually in Saratov province, uniquely in Russia, it is possible to buy land so property development is possible.

I don't know the answers to most problems.

How to get the money into Russia?
How to get the money out of Russia after a sale?
Property taxes and utility charges?
Repairs on communal property - I believe it is a municipal function not a landlords function to repair property. I get confused messages.
Capital Gains taxes?
Special barriers against foreigners?
The need for blatt?
The need for protection?
Tenancy laws if I let the property?

Obviously I need a lawyer and an accountant to answer these questions in the end but in my experience, if you don't know enough of the answer to ask the right question such professionals tell you nothing important. Ultimately I have in mind building some chalets by the Volga for fishermen.



If you have specific aim and get ready to work on this way, please, ask me.


Posted by: Volga Trader

Quote:
Originally Posted by Ms.Smarty Pants
If you have specific aim and get ready to work on this way, please, ask me.


By my next trip (about 3 months) I would like to know enough to view a few flats/apartrments in Saratov with a view to buying one immediately. I am also talking to a colleague about developing fishing chalets.

Are you involved in property professionally?

I am trying to find a reason to visit Samara. People in Saratov say Samara is more prosperous (but Saratov is closing the gap). Firms from Samara are buying a lot of property in Saratov just now - the port, a big electronics factory complex. The difference in Saratov is that the law allows you to buy land as well as buildings so I keep the fishing chalets, subject to finding the right roof. I am fine on the genral principles of Russian business. The precise legalities are different.


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