Top
image credit: Adobe Stock

Russian real estate investors scramble to sell US holdings

April 1, 2022

Category:

Russians have been investing in American real estate for decades, according to NBC News. Before the global financial crisis, Russians bought many luxury apartments in cities like Miami and New York City.

After the Russian invasion of Crimea in 2014 and President Barack Obama’s sanctions against the country, Russian investment in U.S. real estate ground to a halt.

Ukrainian-born real estate associate with Compass, Victoria Shtainer, told NBC that she sold 30 to 40 Manhattan apartments to Russian buyers from 2005 to 2014. But the high purchase price of New York City apartments triggered red flags after sanctions.

Read More on Construction Dive