Taboo in the past: Russian citizens can invest in Miami real estate again

08 Apr 2024

Until recently, there were significant challenges for Russian citizens to purchase local real estate in the United States. In brief and straightforward terms, there was a specific prohibition on selling apartments to individuals with Russian passports. Whether or not you had a visa in hand, purchases were still denied.

However, recent changes in local legislation have lifted the restrictions, and now Russian citizens can buy real estate in the USA in general and Miami in particular. But there are a few important nuances:

1. The buyer must not reside in Russia.

2. The buyer must not plan to return to Russia.

3. A foreign passport and any visa are required.

You can buy real estate remotely, even while being on a different continent. We'll facilitate a turnkey deal with the involvement of an in-house lawyer.

You can also arrange financing at rates as low as 7,5% per annum or even lower. Moreover, you can secure a mortgage at 7,5% with a tourist visa in hand. Simply make an initial down payment of 30%, and banks will not object.

Why is this advantageous?

Miami is currently a seller's market: developers are struggling to meet the skyrocketing demand for new construction. If you invest in a new project at the very beginning of sales, you can expect a significant increase in the value of your asset closer to the completion of construction in 4-5 years.

Furthermore, Miami is the leader among US cities in terms of price growth for new construction. According to CoreLogic, average property prices in Miami increased by 8,3% from November 2022 to November 2023. And there's more room for growth.

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