Crisis in Russia: currencies and apartments in demand

Once again Russia happened to be in the midst of the financial crisis, so the Russians preferred to get rid of the national currency on a massive scale. Citizens massively buy consumer goods hoping to keep their savings.

Cars and electronics are among the most popular purchases. As for the currency, the choice is simple; people prefer to buy the euros and U.S. dollars. However, this stable pair has a competitor. The collapse of the ruble provoked an increasing demand for the bitcoin, which has recently won popularity among the Russians. According to the official statistics of the e-currency exchange sites, only during the last month the ruble transactions’ volumes increased by more than 250 percent.


The bitcoin charts resource, keeping financial and technical statistics on bitcoin, confirmed that the volumes of ruble-denominated transactions increased from 230 to 819 during a 30-day period, this marked a record high since last December. It should be noted that the legislation of the Russian Federation does not prohibit the cryptocurrency, but provides various penalties for transactions with its use. Penalties of up to 50 thousand rubles can be paid by individuals, and for commercial organizations fines can amount to 1 million rubles.

As for the Russians, who have bought both currencies and cars long before, they prefer to protect their savings buying property in the UK. The crisis makes Russian millionaires buy expensive mansions in London. According to the real estate offices reports, apartments at the cost of 10 million pounds are in great demand.