Allocating capital in hard currencies (USD, EUR, AED) helps shield savings from rouble weakness and domestic inflation—a classic hedge that has worked for decades. Gross rental yields are typically 5–12% per year. In the UAE (Dubai), 6–9% net is realistic with low taxes. In Thailand (Phuket), short-term rentals in peak season can reach roughly 7–12%.
In growth markets prices rise year on year. Dubai and other emirates have seen increases of up to ~15% annually; Thailand—up to ~12% in popular resort areas; selected European and Asian locations also show solid capital gains.
Golden Visa programmes open doors to Europe and beyond: Greece from roughly €250–800k; Cyprus and Portugal run similar schemes. In the Emirates, a purchase from about USD 545k can secure a 10-year visa. Interest in overseas property keeps rising—in 2025 deal volume increased in many regions.
Drawbacks of investing in foreign property
Minimum ticket sizes for income assets often start around USD 100–150k, while popular Golden Visa routes and liquid cities may require USD 250–400k and up. Property taxes, management fees, maintenance, repairs, insurance and utilities routinely absorb roughly 20–30% of gross rent. In some countries (e.g. Spain, France) annual carrying costs can reach 2–4% of the asset value.
In Thailand, Cyprus, Spain or Greece the high season lasts roughly 4–6 months; the rest of the year the unit may sit empty or rent at a discount. Annual occupancy is often 50–70%, not 90%+ as some ads suggest. Buying in dollars or euros while income and resale are also in foreign currency means that if the rouble strengthens, rouble-denominated returns on overseas property can fall sharply or go negative even when the asset price rises.
Restrictions on FX transfers from Russia, tighter Central Bank currency controls and difficulties opening accounts abroad post-2022: many banks reject Russian nationals or demand extensive paperwork.
Changes of government, new sanctions, frozen accounts or transaction limits can strand an asset or kill liquidity—visible across Europe. In smaller cities or on the secondary market, sales may take 12–24 months. Add mandatory CFC reporting, large FTS penalties for missed notifications (roughly RUB 500k–1m+), and heightened tax scrutiny of foreign income.
Greece, Portugal and Spain offer many listings after the Golden Visa boom—prices are already high while yields compress due to rental oversupply.
Where Russians most often invest
According to RBC Realty for H1 2025, Thailand leads foreign real-estate demand—25.6% of enquiries, up almost ~30% YoY. The UAE is second at 9.6% despite softer appetite. Turkey is third (~8.9%) with modest growth. Then France (~7.1%), Cyprus (~6.6%), Spain and Greece (~6.5% each).
These figures reflect enquiries and deals. Early in the year ~71% of purchases targeted residence or citizenship (Forbes), but by year-end the share of purely investment deals rose to ~53%.
2025 full-year data show demand down ~25%. Europe was hit hardest—Bulgaria, Spain, Finland lost 25% or more. The UAE, Turkey, Montenegro and Greece fell roughly 10–20%. Interest in Asia and the Middle East grew (Kommersant).
By region: Southeast Asia ~27%, Middle East ~10%, Turkey ~7%—one of the year’s laggards. Thailand remains the clear leader, the UAE second, while Europe gradually loses share (TAdviser).
How to choose a country for overseas property investment
Country choice balances yield, risk and personal goals—passive income, residence permits or relocation. For Russians in 2026, prioritise “friendly” jurisdictions, absence from Finance Ministry blacklists, and practical payment channels.
Political and economic stability
Watch GDP growth, unemployment, predictable inflation and absence of fresh Russia-focused sanctions. The UAE and Thailand illustrate strong economies, limited political shocks, and steady tourist and investor inflows.
Turkey shows the opposite—inflation sometimes above 50–70% yearly and lira volatility that erodes returns. Stability is not maximum headline yield; it is predictability and capital protection over time.
Legal transparency for foreigners
Foreign investment should operate on the same terms as locals or under clear, stable rules. In the UAE foreigners obtain 100% freehold in most freehold zones. Thailand widely uses 30+30+30 leasehold with renewal practice—a mature scheme. In Europe (Greece, Cyprus, Portugal) full ownership pairs with residence-from roughly €250–500k programmes.
Avoid jurisdictions prone to sudden bans or nationalisation—rare but not unheard of.
Rental yield (ROI)
Net yields in the UAE are often cited at ~5–12% annually; Thailand ~7–12% in prime spots; Southern Europe more often ~3–6%. Model correctly: annual rent minus income tax, property manager (often ~10–20%), utilities, vacancy (1–3 months), repairs and insurance. Many quote gross yields—always stress-test net cash to your account.
Market liquidity (time to sell)
Quality Dubai assets often move in ~3–6 months, sometimes faster. Thailand more commonly ~6–12 months outside top locations. In Europe (Spain, Greece, Cyprus) premium stock may sell in ~4–8 months; mass-market takes longer. Undervalued or fast-growing markets tend to be more liquid; illiquid pockets include small markets or secondary stock in downturns.
Tax burden on owners and gains
Layer local and Russian taxes. UAE: typically ~0% on rental income and capital gains at federal level. Thailand: local taxes often ~5–15%. Europe: income tax ~20–30% plus recurring property levies.
For Russian residents add PIT ~13–15%, CFC rules and foreign-account notifications. The UAE–Russia double-tax treaty (effective 2026) simplifies many cases. Finance Ministry blacklist jurisdictions add payment friction.
Infrastructure and quality of life
Airports, healthcare, safety, international schools and tourism infrastructure directly drive rents and resale speed. Dubai and Phuket are benchmarks—tens of millions of visitors yearly, solid roads, world-class hospitals. Low unemployment and expat inflows support demand. Weak infrastructure means lower rents and harder exits.
Regional overview
Middle East
Dubai and Ras Al Khaimah offer ~7–12% net rental yields, zero income and capital-gains tax at emirate level, and residence from ~USD 204k. Economic stability, limited sanctions exposure and tourism underpin reliability. Georgia attracts infrastructure growth and lower entry, but political and FX risks run higher.
Asia
Thailand is the top foreign-property pick for Russians. Phuket can deliver ~7–12% net allowing for seasonality—peak months drive cash flow. Indonesia and Vietnam offer rising prices and low entry, though infrastructure and legal protection still trail leaders.
Europe
Greece, Spain and Cyprus show ~3–6% yields but pair Golden Visas with full ownership. Rental seasonality is sharp yet premium assets can work. Austria and Portugal score on stability and lifestyle but yield less. Sanctions and payment hurdles since 2022 gradually erode Europe’s share for Russian buyers.
Best countries for foreign-property investment (summary)
UAE (Dubai, Ras Al Khaimah)
Popular choice: ~6–12% net rents, ~0% income and CGT in relevant emirates, residence from ~USD 204k. Strong tourism and infrastructure, limited sanctions drag. Downside—crowded mass segment.
Thailand (Phuket)
Demand leader—~25% of enquiries. ~7–12% yields in good locations; peak season boosts cash flow. Entry from roughly USD 80–150k. Seasonality means payback often ~8–11 years. Use professionals—EDEM LIFE REAL ESTATE helps verify leasehold, money transfers and legal work to avoid common traps.
Turkey
Budget entry (~USD 50–100k) once fashionable, but demand and prices slipped on inflation and higher citizenship thresholds. Gross yields ~5–8% can shrink after FX losses. Fits budget buyers seeking citizenship angles.
Cyprus
Full EU, freehold, residence from ~€300k. Yields ~4–7%, stable tourism, premium liquidity. Minuses—payment friction and higher non-resident taxes.
Greece
Golden Visa ~€250–800k by region; yields ~3–6%. Strong tourism story; Athens and islands appreciate long term despite seasonality.
Indonesia (Bali)
~10–12% in select projects, entry ~USD 100–200k. Digital nomads and tourists fuel demand. Risks—leasehold, weaker legal protection, natural hazards. For risk-tolerant yield seekers.
Serbia and Hungary
Underappreciated Eastern Europe. Serbia ~USD 70–150k entry, ~8–12% price growth, residence options. Hungary: stability, ~4–7% yields, solid infrastructure. Both gain from simpler payments vs Western Europe and lower competition.
Residential vs commercial overseas investment
Residential is simpler: easier to lease, demand holds in downturns, quicker sales with less impairment. Apartments and villas in Thailand and the UAE show good occupancy and tradability.
Commercial (offices, hotels, retail) can reach ~8–15% in strong deals but carries vacancy risk, tenant concentration, complex management and higher opex.
Rules for investing in foreign property
Define the goal—rental income, capital growth, residence/citizenship or a blend.
Stick to friendly, non-blacklisted jurisdictions with workable payment rails.
Use only vetted local counsel and agents—never skimp on legal.
Model net-of-all-costs yields—not gross brochures.
Respect Russian FX control: notify where required, respect limits and deadlines.
Declare everything to the FTS: CFCs, rental and sale income—penalties for silence are severe.
Use escrow where possible; always verify title through independent lawyers.
Risks of overseas property
Currency: FX swings can wipe rouble-denominated profits on repatriation. Political/sanctions: new curbs, frozen accounts. Legal: title issues; leasehold in Thailand or Indonesia with weaker rights.
Russian tax: CFC, 3-NDFL ~13–15%, blacklist friction, notification fines. Operational: seasonality (Thailand, Greece), vacancy, manager fees. Market: price slides (e.g. Turkey on inflation) or STR rules tightening in Europe.
Mitigate via diversification, trusted local counsel, building and title insurance, conservative modelling and a 6–12-month expense reserve.
Conclusion
Foreign property is a diversification and capital-protection tool. Today the UAE and Thailand combine relatively high yields, workable payments and manageable geopolitical risk. Russian tax, CFC rules, FX control and FTS compliance remain critical for residents.
Chase stability more than “miracle” yields. In Thailand work with professionals (EDEM LIFE REAL ESTATE) to avoid textbook mistakes. Stay long-term and analytical.
FAQ
How much capital to start?
From ~USD 80–150k in Thailand or Turkey; ~USD 150–250k in the UAE (RAK cheaper than Dubai). Europe (Greece, Cyprus) Golden Visa floors often ~€250–400k.
What taxes do Russians pay?
PIT ~13–15% on rental and resale gains. Declare CFCs, foreign accounts and property per FTS/CBR rules.
Best country for property-linked residence?
UAE—fast, from ~USD 204k. Greece and Cyprus—Golden Visas from ~€250–300k. Thailand and Turkey offer long-stay routes; full permanent residence is harder.
Main risks buying in Thailand?
Leasehold limitations, rental seasonality, manager costs, FX on transfers—without strong counsel overpayment and legal traps are common.
How to fund a purchase in 2026?
Often via banks in friendly hubs (Kazakhstan, Armenia, Serbia, UAE) or, where lawful, crypto/e-wallets—always check current regulation.
Must foreign property and income be declared in Russia?
Yes—notify acquisitions within statutory deadlines, file annual CFC notices where applicable, declare rental and capital gains on 3-NDFL.
Can you buy without travelling?
Usually yes, by power of attorney—standard in the UAE, Thailand, Turkey, Cyprus and Greece.