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February 2017   Volume 43, Number 2      
 

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Russian Interest in U.S. Real Estate Increases After Trump Election

Russian interest in buying luxury properties in the United States increased by 35 percent in 2016 following Donald Trump’s election victory, according to global real estate consultancy, Knight Frank.

Knight Frank reports that Russians are interested in purchasing vacation homes and investment properties. Nearly all potential Russian homebuyers are looking to spend between $500,000 and $5 million on residential properties. An additional 10 percent are hoping to buy commercial real estate.

The most popular destinations for Russian buyers are New York City and Miami.

“Many of our customers are going to the Art Basel Miami Beach exhibition and will see real estate there,” said Marina Kuzmina, head of international sales at Knight Frank Russia. “A few customers are interested in the opportunity to buy property in development projects of Donald Trump, and we have received requests from U.S. developers wishing to cooperate with Russia.”

Some Russian real estate investors see Donald Trump’s election as a sign that relations between the United States and Russia may improve in the near term. Trump has praised Vladimir Putin as a strong leader.

Although demand for U.S. real estate from Russian buyers declined after Western countries imposed sanctions on Russia as a result of its involvement in the crisis in Ukraine, Russian buyers have returned.

 

 

 

 

In this issue:

Tiny Home Neighborhoods Are Popping up Across America

Chinese Developers Reassess U.S. Projects

Commercial Real Estate Market Sees Mixed Results After Election

First-Time Homebuyers Struggle to Find Affordable Homes to Purchase

Hiver CEO Predicts Major Tech Trends in Real Estate for 2017

Homebuilder Confidence Has Increased, but They’re Not Building New Homes

Newly Created S&P 500 Real Estate Sector Continues to Decline

Redfin Predicts 2017 Will Be the Fastest Housing Market on Record

Russian Interest in U.S. Real Estate Increases After Trump Election

Rising Sea Levels Are Forcing Agents to Rethink How They Sell Coastal Properties


 


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