The Trump Effect on Miami Luxury Real Estate
Wondering what the Presidents potential influence on the Luxury Real Estate Market in Miami will be? With an assumed PRO-Real Estate environment and policies the potential could be HUGE!
Just one month into Donald Trump’s victory, the increased interest from Russia in the Miami area was substantiated by the MIAMI Association of Realtors® recent property search results. According to the MIAMI Association of Realtors® findings in the month of November, web searches for Miami real estate from Russia climbed to the #1 spot of foreign country queries. This is the first time that Russia topped the search list since the association began tracking these statistics in 2013.
Russia finished 5th on this same list back in November of 2015 in comparison trailing Brazil, Venezuala, Argentina, and Columbia, reflecting the immediate impact of the announcement of Trump’s victory and Russian sentiment towards the new President.
Compared to the former administration, President Trumps apparent friendlier climate towards Russia and Putin could mean an influx of Russian buyers in the Miami Luxury Real Estate market. Trump has consistently vowed to have better relations with Russia and Trump himself has had former business dealings with Russian billionaire Dmitry Rybolovlev when he sold his Palm Beach, Florida mansion back in 2008 for $95 Million.
Russian Moguls have already made investments in neighborhoods such as Sunny Isles, Fisher Island, and Bal Harbour. Sunny Isles, also known as “Little Moscow” already has an established Russian population and Russian-owned business’s with the potential to attract more Russians to nearby and surrounding South Florida areas.
Below are the Complete Results for November 2016 for South Florida real estate searches by Country from miamire.com.
10. United Kingdom
Wanting to learn more about South Florida’s Luxury Real Estate Market? The Worldwide Properties team has all the experience and knowledge to guide you through your real estate search in South Florida. We also specialize in assisting foreign investors with obtaining EB-5 Visas through real estate investments and can help guide you through this process.
Contact Worldwide Properties TODAY to speak with an experienced agent about buying luxury real estate in Miami Beach and the South Florida area.
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Source: MIAMI Association of Realtors®