The typical Russian property buyer is a businessman aged 35–45, married with adult children. Their favorite locations are Manhattan and some parts of Long Island, especially the posh Hamptons. Property in vacation areas like Florida is also in demand.
Edward Mermelstein, an attorney and managing partner with Rheem Bell & Mermelstein LLP, says that in his 20 years of practice, he has never before seen this kind of buying spree among Russians.
The average price of property in Manhattan is $3 million, and the greatest demand is for luxury apartments in New York’s most upscale buildings. “I rarely see Russians buying property for less than $800,000 to $900,000,” Mermelstein said. Almost half of the deals his company handles involve clients from Russia and Ukraine. More recently, the number of clients from Kazakhstan has increased.
The most important thing for Russian buyers is a prestigious location. Location, according to Mermelstein, boosts the price by 30–40 percent compared with similar apartments in other places...
Read more: http://rbth.ru/articles/2011/11/08/russian_buyers_look_for_a_new_start_in_new_york_13708.html#ixzz1d8vlTKU1
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