Is Miami the New Russian Riviera?

by Isaac Benmergui, Esq on December 21, 2012

YachtMiami has long held an attraction for foreign tourists with the warm sun and pristine beaches drawing visitors from Brazil, Canada, Venezuela, and Europe. Recently though there has been a new visitor, the Russian millionaire.

Being called the current “dominating force” behind foreign-owned mega mansions in Miami, these millionaires and billionaires are plunking down hundreds of millions of expansive waterfront properties.  This past summer, the most expensive Miami mansion sold for $47 million to an anonymous Russian buyer with other area properties of $25 million and $20 million also purchased by these elusive wealthy patrons.

With Miami’s fair weather in complete contrast to the harsh cold winters in Russia, buyers naturally want to claim their place in the sun. Miami also offers the security-concerned homebuyer with myriad private islands with private security, gated communities and high-security condominium buildings to choose from for their residence.

Getting Legal Help

The law offices of Isaac Benmergui specializes in immigration and real estate and can assist you with negotiation of the lease or property purchase, and will represent you at closing; call 780-800-2510 or email Isaac@benmerguilaw.comfor more information or to set up an appointment today.


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