Overseas property guides for anyone interested in buying property abroad in Russia. Plus, search for property in Russia.

Russia is a transcontinental country that extends over much of northern Eurasia.

At 17,075,400 square kilometres, the country is by far the largest in the world and shares its border with no fewer than 14 other countries that range from Norway to North Korea. To get a true sense of its scale, it is worth considering some facts: Russia extends across the whole of northern Asia and 40 per cent of Europe, covering 11 time zones.

What's more, the country is home to 142 million people, making it the ninth largest state by population.

Since emerging from Communism in the early 1990s, Russia has become a leading member of the Commonwealth of Independent States and the G8 group of industrialised countries.

The Lonely Planet explained the appeal of the country for the visitor. It stated: "Churchill's 'riddle wrapped in a mystery inside an enigma' remains an apt description of Russia; most outsiders have only a hazy idea of its realities. A composite of the extravagant glories of old Russia and the drab legacies of the Soviet era, it's a country that both befuddles and beguiles.

"This is a land of snow and deadly winters, but also of rivers that meander across meadows and a midsummer sun that never sets. Its people, in the words of a Russian proverb, 'love to suffer', yet they also love to party and can be disarmingly generous and hospitable."

Pros and Cons to Buying Property in Russia

When it comes to buying property in the country, the site propertyfrontiers.com noted that "investment in this country is not easy, but considering its natural assets and one time status as a superpower, it is likely that the Russian real estate market will continue to develop as the country does".

The site suggested that most people looking for second homes in the country would pick either Moscow or St Petersburg. It explained that "the capital is a dynamic and diverse city which is often seen as the nucleus of the changes sweeping through Russia" and that "St Petersburg is also interesting to investors. It has been dubbed the Venice of the North for its palace-lined waterways".

However, the site was also keen to point out that Yekaterinburg, Kaliningrad, Perm, Samara and Ulyanovsk might also be interesting to investors.

"Many of these cities are significantly cheaper than the capital after suffering significant property price deflation in the late nineties. However, each of these cities are likely to benefit from their proximity to Europe and the ever expanding trading block. Additionally, there is the odd resort town such as the subtropical Sochim," it concluded.

Despite this, many experts stressed that St Petersburg and Moscow remained the cities where most foreigners would look to invest.

The Global Property Guide stated that "the Moscow property boom is an amazing phenomenon. Apartments in the centre of the city are being sold and rented at prices which would appear to defy all reason".

Indeed, data showed that the average price of an apartment rose to $19,093 per square metre in prime Moscow districts and that a tiny property could still cost over $500,000. For larger homes, prices are almost certain to be over the $1 million mark and could be as much as $5 million.

St Petersburg is slightly cheaper, with small apartments starting at $163,500. Spacious homes in the city might cost $448,800.

Website expatfocus.com noted: "It is possible to buy a house in a country village for little more than $1,000."

What you need to know when buying property in Russia

Since 2001, it has become significantly easier for foreigners to purchase property in Russia.

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