Property Of War: Fear Of Conflict Leads Eastern Europeans To Buy Real Estate In West Of The Old-Continent, Says Report

Property Of War: Fear Of Conflict Leads Eastern Europeans To Buy Real Estate In West Of The Old-Continent, Says Report

According to the report, wealthy residents of Eastern European nations, particularly Baltic countries, along with Poland are in search and perhaps even in need of properties in the west of the continent.

Juviraj AnchilUpdated: Sunday, April 14, 2024, 10:38 AM IST
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The Conflict in Ukraine started in February 2022 |

Wars and bloody conflicts in other shapes and forms have only escalated in the past few years. The war in Ukraine has implications across the board in different walks of life for the 'West' and the world at large. Energy has been at the centre of the debate and discourse, since the beginning of the conflict, given how crucial oil and gas is to the world today.

East Looking West

But according to report from American network CNN, another segment has also seen some movement. It is the real estate sector, that has seen some Eastern Europeans, primarily residents of countries, that share a border with Russia, that are looking for abodes elsewhere.

Many aspirants are aiming properties in Spain and other Mediterranean territories.

Many aspirants are aiming properties in Spain and other Mediterranean territories. | Canva

According to the report, wealthy residents of Eastern European nations, particularly Baltic countries, along with Poland are in search and perhaps even in need of properties in the west of the continent. This as the fear of the tentacles of current conflict extending or a new one starting on their shores, is perhaps beleaguering the natives of these aforementioned nations.

The war in Ukraine has vacillated over the past two years, ever since the war began in 2022, in the middle of the pandemic. Currently, where the war could go, and how it could end, is anybody's guess.

The possibility of a second Trump presidency is also another factor, that could play a pivotal role in the surge in the need for a 'back up' for these worried entities

The possibility of a second Trump presidency is also another factor, that could play a pivotal role in the surge in the need for a 'back up' for these worried entities |

Worried Citizens Look For Alternatives

Many emerging stakeholders are looking for property in Spain and other Mediterranean countries. Another reason, behind aspiring tenants, are aiming places in Spanish territories, particularly southern territories, is because of the location, where they are situated. These are the (The Baltic and Poland) countries, that were once in the Red Horizon, and were under the direct influence of the former Soviet Union.

The possibility of a second Trump presidency is also another factor, that could play a pivotal role in the surge in the need for a 'back up' for these worried entities, who over a period of time, have collectively come out from the rubble, that was left from the fall of Soviet Union.

All this happens, while residents of Palestine, particularly, Gaza and even West Bank, have nowhere to go, spending their lives, in what is deemed by many as one of the largest open-air jail. For Gazans, going to neighbouring Egypt seems improbable, as the borders are very much sealed and most importantly the possibility of the Palestinians and their accommodation in the North African country is not entirely understood or clear, as country's president El-Sisi has tried to elude such a scenario.

Nevertheless, the expansion of all these global conflicts will not have a constructive effect on any paradigm, the need to pause them, therefore is essential.

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