Russian buyers 'targeting Marbella real estate'

Marbella in Spain is proving popular among Russians looking for property in the country, it has been noted.

Fine & Country Spain, a real estate agency, has recorded an increase in the number of buyers from Russia expressing an interest in developments in the region.

Sales director at the firm Laurent Coulee commented that the amount of people from the nation searching for properties in Spain has doubled since 2010.

He added that the majority of investors are targeting high-end homes on the coast in Marbella.

Mr Coulee pointed to several reasons why they may be attracted to Spanish real estate: "If Russians buy property in Spain, they are able to obtain a visa for visits [...] Many also prefer to invest in property in another currency to spread the currency risk."

Earlier this month, International Property Success predicted that house prices will not fall any further in Marbella, due in part to the influx of foreign buyers.

In addition to Russians, the organisation revealed Middle Eastern and British buyers are also attracted to real estate in this region of Spain.