Russians are buying homes in the EU despite sanctions - RBC.

According to the data of the Spanish General Council of Notaries (Consejo General del Notariado), Russians have increased their real estate purchases in Spain. This is reported by the edition RBK with reference to the data of the General Council of Notaries (Consejo General del Notariado) of Spain. According to the report, the number of real estate purchased by Russians in January-June increased by 50.2% compared to the same period last year and amounted to 2137 residential properties. Sales by Russians exceeded the 2,000 mark for the first time since 2014, when 2,573 properties were sold. Russian nationals accounted for 3.2% of the total number of acquisitions by foreign nationals during the reporting period.

The most significant increase in demand for real estate is seen among Russians without residency in''Spain, said the head of consulting company Yakov and Partners Anna Danchenok.

Historically, real estate in Spain has been seen by Russian buyers as a vacation destination, market experts say. However, the purchase of housing in the country is also a way to obtain a residence permit under the program "Golden Visa" Spain. This program allows any foreigner to obtain a residence permit when buying real estate worth 500,000 euros ($542,770) or more. Analysts say that Russians have begun to see golden visas as a way to travel freely across countries''EU after their country was hit by sanctions last year.

Spanish authorities had planned to double the investment threshold to 1 million euros or completely ban Russians from the program in view of Ukraine-related sanctions, but so far the terms of the program have not been changed. According to the latest available data from the Spanish Ministry of Integration, Social Protection and Immigration, the country issued 738 golden visas to Russian citizens between January and October last year, a record high.

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