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Are Russians Buying U.S. Homes Once Again?

It seems that Russian buyers are turning their heads toward United States real estate, likely because of recent ruble fall and because they believe in Donald Trump! A surge in Russian inquiries has been registered by global real estate consultants when compared to a year ago. Reports show that requests have increased 35% compared to 2017 numbers.

New Interest in the U.S.

However, it is not just investment properties that are seeing a jump in Russian inquiries. It is also commercial real estate and even vacation homes. About 30% of Russian buyers seem to be interested in getting in on commercial real estate. Experts have noted that some customers are interested in buying property that stands as development property of Donald Trump. Many United States developers have noted being more than willing to cooperate with this horde of Russian investors.

Most of the inquiries noted by agencies working with Russian investors are in the budget range of $500,000 up to $5 million with New York City and Miami being the most significant hot-spots of attention by these investors.

A Reuters review has shown that 63 or more individuals with Russian addresses or passports have purchased at least $98.4 worth of property in Trump-branded towers in Southern Florida, according to various public interviews, corporate records, and documents. Buyers include politically connected former executives, businesses, bank founders, and more.

Many of the buyers seem to have done well in the United States. A local politician, Vadim Valeryevich Gataullin, bought a condo for $3.5 through VVG Real Estate Investments LLC. He later sold that apartment for $4.1 million. He then purchased a second apartment in the same building for $920,000 and sold it for $1.1 million down the line.

Past Russian Interest

Of course, this is not the first time that Russian investors have shown interested in development, vacation homes, and commercial real estate. Back in 2011, the most expensive apartment in Manhattan was purchased for $88 million by the daughter of tycoon Dmitry Rybolovlev, Ekaterina Rybolovlev. Dmitry Rybolovlev also bought an estate in Palm Beach, Florida for $85 million in 2008. It was purchased from none other than Donald Trump.

As of 2014, Russian purchases had jumped as far as international sales of United States property. However, those numbers dropped sharply following the United States sanctions on Moscow and its annexation of Crimea.

Russian Interest Abroad

In addition to interest in United States real estate, Russians also continue to be a considerable market for residential real estate in Europe. Many Russian oligarchs own homes in London, including Andrey Yakunin, Roman Abramovich, and Leonard Blavatnik. During 2013, more than £500 million was spent on London luxury houses.

However, declines in oil prices, instability in currency markets and global finance, and tensions between the EU and Russia have dropped the transactions occurring in the sector of real estate. The number of £5-10 million transactions have fallen by 50%. The potential prohibition of anonymous purchases of property may lead to even further sliding.

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New Major Car Brand Condos in Miami For Sale

For those looking to fulfill a desire to live out a beautiful fantasy, the new Aston Martin Residences – (CLICK HERE TO VIEW THE SITE) are due to be completed and ready for the market by 2021 at the latest. Aston Martin, known for their British luxury sports cars, is expanding the brand to bring their very first project in real estate to Miami.

The design team at Aston Martin is going to be working with G & G Business Developments for this unique new project. They are expected to be incorporating elements from their sports cars into the buildings themselves, with colors and materials from the vehicles in items like residence number plates, door handles, and carbon fiber furniture.

The building used for this project is located at 300 Biscayne Boulevard and is built on one of the last few piece of downtown Miami waterfront. The building itself is shaped like a sail and built of glass and steel. It was designed by Bodas Maini Anger and Revuelta Architecture.

The tower, which will be a cloud chasing 66-stories, is under construction and is expected to offer 391 units that will be priced from the upper hundred thousands all the way up to $50 million. This might seem as if it is a broad range of prices, but that is because the condo sizes range between 698 square feet all the way up to nearly 20,000 square feet. This building will also include a triplex penthouse and seven traditional penthouses.

Each of these magnificent condominiums will have windows from floor to ceiling, along with white marble floors and glass balconies. Four of the 66 stories will be used for special amenities for the residents.

Level 55 includes everything from an infinity pool, sky bar, and salon to a catering kitchen, chef’s kitchen and private dining room.
The level just below offers two movie theaters, along with a virtual golf course, and a fitness center.
Level 53 offers more fitness, a spa lounge, spinning room, boxing room, spa, sauna, meditation room, barber station, and beauty salon.
The final level for amenities, level 52, will offer vending, game room, teen center, kids playroom, business center, conference room, and a curated art gallery for residents.

In addition, there are many other amenities available to the lucky owners of a condo at Aston Martin Residences. There are 10 high speed elevators, storage areas, electric car charging stations, a 24-hour valet, marina for yachts, and concierge and hospitality services.

As for the condo units, everything from a studio at 698 square feet to an upper penthouse with over 18,000 square feet will be available. Rooms will feature European cabinetry, sliding glass doors, 10 to 12-foot ceilings, and a beautiful view of the Miami skyline, the ocean, and Biscayne Bay.

This isn’t the first opening of a major tower by a brand synonymous with cars as the opening of the Porsche Design Tower in March goes to show. However, those who did not get in on the ground floor with that property may be well-suited to the Aston Martin option under development now.