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by Michael Marquette of Marquette Turner Luxury Homes
Russians are investing heavily in overseas property, and even though the Russian stock market continues to suffer (and there will approximately 50% less billionaires in Russia this time next year), there are ongoing reasons for wealthy Russians to search for prestigious properties to buy as a long-term investment.
The experience of Marquette Turner Luxury Homes suggests that regardless of their fortunes, Russians don’t necessarily want masses of land and they are not particularly interested in properties with old-world charm or character. Furthermore, few of them are looking at properties below $US1 million, although there is often no maximum amount.
Specific requirements often include good access to an international airport, security, modern and abundant facilities, inviting year-round weather. Furthermore, entertainment areas with a “wow” factors, as well as original, unique and handcrafted features are also desirable.
Those with families will happily look outside or major cities, but they don’t particularly like older style features, flight path noise or a large amount of land.
They are also shrewd and know a bargain when they see one and are quite straight forward.
Quite simply, only the very best addresses will do, they will not tolerate flaws or poor finishes, and they will only deal with the very best agents based on favorable recommendations.
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