For many people living abroad is a dream and nothing more. But for Russia's super-rich, snapping up holiday homes in glamourous destinations is a growing obsession. The country's elite are everywhere and it seems the trend is set to continue. Venice is on

First – the Cote d'Azur, then London, now Venice. European cities continue to fall to the Russians, one expensive villa at a time.

Real estate agents say the flats in the 15,000 to 20,000 dollars per square meter range are much in demand, and there are about 60 big purchases a year by the Russians.

The historical Morosini palace is undoubtedly a luxurious place with superb views reminiscent of Canaletto paintings. Gabriel D'Annunzio wrote his odes to Venice, and ballet dancer Rudolf Nuriev presumably once did his stretching exercises in this spacious, well-appointed property. Recently a well-known but unnamed Russian oligarch was also reported to be interested.

But if the view is priceless for art lovers, the estate itself has its monetary value of eight  million euros.

Meanwhile, Venice is becoming a prime location for celebrity-spotting. Reportedly, the billionaire owner of Chelsea football club, Roman Abramovich, has bought a mansion on the nearby Lake Garda, immediately ordering the construction of a swimming pool, a high fence, and outhouses for his staff.

And the aluminium and oil tycoon Viktor Vekselberg will surely appreciate the irony of living in a villa that was formerly inhabited by radical Communist Giangiacomo Feltrinelli. The Italian press claim he has bought it from another billionaire.

But once the housewarming party is over, will these Russians actually want to live in Venice? As locals say, the atmosphere in the city is not that of world megapolises with their permanent stress and hurry. 

“It's a special city, you have to get used to it. It's a small city, you meet people you know all the time. You have to talk to them. You have to want to walk by foot, and not to hurry. You have to be patient, waiting for the ferry to arrive,” says Entso Rara, estate agent.

Although not if you choose to leave the house in your private yacht, presumably.