http://www.bloomberg.com/news/2011-08-03/russian-billionaires-buy-u-s-estates-as-overseas-wealth-flows-to-mansions.html?cmpid=
Roustam Tariko, billionaire owner of Russian Standard Bank and Russian Standard Vodka, completed the most expensive home purchase in Miami Beach since 2006 when he bought a $25.5 million estate on Star Island in April.
SAMEER SAYS
IT FEELS LIKE THE JAPANESE BUYING US HOUSING NEAR 1989.
FOREIGNERS ARE THE LAST TO ENTER THE PARTY AND THEY ARE VERY LATE.
THIS IS NEGATIVE FOR RUSSIA.
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“In Russia, it’s a status thing now,” Jorge Uribe, a real estate agent with One Sotheby’s International Realty Inc. in Coral Gables, Florida, said in a telephone interview. “If you’re wealthy and you say you have a place in Miami, it’s like saying back in the old days, ‘I own a place in Ibiza or Monaco.’It’s a cocktail conversation thing.”
“We’re hopeful the second half of the year will be as good as the first in terms of the very high-end market,” he said in a telephone interview.
International buyers purchased an estimated $82 billion worth of U.S. homes in the 12 months ended March 31, a 24 percent increase from the year-earlier period, the National Association of Realtors reported May 18.
“Four years ago we didn’t have any Russian buyers,” he said.
Roustam Tariko, billionaire owner of Russian Standard Bank and Russian Standard Vodka, completed the most expensive home purchase in Miami Beach since 2006 when he bought a $25.5 million estate on Star Island in April.
SAMEER SAYS
IT FEELS LIKE THE JAPANESE BUYING US HOUSING NEAR 1989.
FOREIGNERS ARE THE LAST TO ENTER THE PARTY AND THEY ARE VERY LATE.
THIS IS NEGATIVE FOR RUSSIA.
======
“In Russia, it’s a status thing now,” Jorge Uribe, a real estate agent with One Sotheby’s International Realty Inc. in Coral Gables, Florida, said in a telephone interview. “If you’re wealthy and you say you have a place in Miami, it’s like saying back in the old days, ‘I own a place in Ibiza or Monaco.’It’s a cocktail conversation thing.”
“We’re hopeful the second half of the year will be as good as the first in terms of the very high-end market,” he said in a telephone interview.
International buyers purchased an estimated $82 billion worth of U.S. homes in the 12 months ended March 31, a 24 percent increase from the year-earlier period, the National Association of Realtors reported May 18.
“Four years ago we didn’t have any Russian buyers,” he said.
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