Forbes magazine listed 0 Russian billionaires in 2000 to a now 96 billionaires in 2012. They often have a desire to “one-up” eachother much like their American counterparts and spend lavish amounts of money customizing their new domiciles in addition to purchasing other properties in as little as a few months later.
Currently, this trend is huge in New York but is slowly trickling down into the South Florida area. Their main targets of interest seem to be Bal Harbor, Sunny Isles Beach and of course Miami Beach.. Buildings such as Oceania, Acqualina, Trump Towers and Apogee are the high end types of properties these guys are looking for as they are most similar to their New York Counterparts.
Its not something you are going to see people write about much due to the nature of these people. Their most desired trait in a broker is discretion as well as secrecy. They do not like to be publicized nor partnered, and with the money they are bringing into this country, it is not surprising that they want complete privacy.
“They don’t talk about who and what they are,” says Victoria Shtainer a Russian broker from Prudential states, “You have to win their trust. You find that information out later rather than sooner.” Astonishingly, despite all the money they spend on these properties, most owners don’t even step inside the residence after it has been purchased.