Russians buying real estate in Miami: who are they

Фото: Depositphotos

Russians very often buy real estate in Miami, Florida, and they prefer expensive apartments.

Data on the Russians in the real estate market Miami collected edition Miami Heraldbased on the information of the real estate agent who worked with buyers from this country.

The growth in the number of Russian buyers in Miami came at the beginning of the 2000s, when some residents of Russia had money and a desire to invest in a stable economy, and the real estate market began to rapidly develop in Miami, which led to an increase in offers and, accordingly, lower prices.

Initially, some of the Russians came to the city on vacation, but then they were attracted by the prospect of having an apartment on the sunny coast of Florida.

This coastline quickly became (and still remains) “Little Moscow,” with thousands of Russian immigrants and investors buying apartments and opening restaurants and shops there. It was during this time that the Russians made several sensational acquisitions in Miami. For example, an anonymous Russian buyer purchased the largest home ever sold in the city, 30 square feet, for $47 million. Russians spent more than $12 billion on foreign real estate in 2011, more than a billion of which were spent in the United States.

But among the Russian buyers there are also many representatives of the middle class. Their share increased dramatically after the US Department of the Treasury increased control over real estate purchase transactions in Miami, which cost more than $ 1 million, forcing wealthy Russians to look for houses in other places where there was no need to report their sources.

Representatives of the middle class began to buy houses not on the coast, but closer to the family districts of the city, where they could take children to schools, and where property prices are lower than near the sea.

Its influence on the activity of Russian buyers and had a presidential election in the United States. Most Russians believe that Donald Trump will improve relations between the United States and Russia.

This led to the fact that many are counting on the weakening of sanctions in the future, which often adversely affected the availability of US visas to those who already purchased property in Miami. Therefore, many of them were thinking about selling it, but now, according to realtors, they have suspended this process in the hope of obtaining visas for a longer period and having access to their American homes.

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