Russians Checking Out Caribbean Real Estate
When it comes to real estate, where haven't Russia's wealthy elite ended up? A mystery Russian billionaire recently scooped up the world's most expensive house on the French Riviera. We've seen them move in to the Plaza in New York, snatch up historic homes in London and pick up ski real estate in Colorado. The Moscow Times says that the next big flood of Russian real estate investment may be headed to the turquoise waters and white sands of the Caribbean. The lure is two-fold, part of it is the natural charm of an idyllic tropical paradise and part of it is the potential property tax breaks that make the homes both pleasure and a smart investment.
While Russian billionaires have long had Caribbean homes, now there is a move by multimillionaires to get their own piece of tropical paradise, buying in to the many developments springing up practically everywhere there is an untended beach. Projects such as Isla Moin in Costa Rica, Costa Blanca in the Dominican Republic and Vita Tower in Panama, which were in many cases originally designed for the American wealthy, have begin to sell toward Russian investors. The Moscow Times also reported last April that Florida real estate projects were also seeking out Russian buyers. The current weakness of the U.S. dollar is also spurring on Russian investors who are finding they can get some great deals.
Reader Comments (Page 1 of 1)
Pablo Oct 10th 2008 3:48AM
Good information. Here are few things about Anguilla.
Anguilla is in a much better position toady that she was in prior to the start of Viceroy and Flag as work in progress is much better than failed shells in ruin--one only has to look at decaying debris of Mullet Bay Resort in St. Maarten for confirmation of that grim fact. However, with the foregoing in mind, one must be concerned about the apparent troubles both Viceroy and Flag have encountered during their construction phases—and the pressure that has put on other managed residence communities that are being or have been planned… such as the projects at Rendezvous Bay, at Shoal Bay West, at Conch Bay, and at Shoal Bay East, et al. Interestingly enough, the construction issues facing Viceroy and Flag (along with the macro economic issues facing the global economy that are negatively impacting real estate investment and lending) might actually be seen to be having a positive impact on the pace of development on Anguilla as there are many who feel “too much too soon”—which is, of course, why Government put in place a moratorium on foreign owned large scale tourism investments…a moratorium which was at least partially offset by Anguillian owned projects that were approved after the moratorium was instituted (in particular: at Rendezvous Bay, Conch Bay and Shoal Bay East).
http://www.anguillaproperties-sothebysrealty.ai/