Luxury Homes: From Ru$$ia with Love

October 2, 2008

by Roberta Murphy

There’s no doubt that uber-wealthy Russians love luxurious homes–and are willing to pay billions of roubles for well-placed mansions, townhomes and luxurious estates.

In Moscow, where luxury buyers are enriched by petrodollars and enthused by strong consumer confidence, a young and wealthy businessman recently paid 2.5 billion roubles ($99 million) for a Moscow town home near the Kremlin. Setting a new Moscow record, this seven-story apartment boasts 1300 square meters of undisclosed luxury and sits near the Kursk railway station.
Russian luxury home buyers, though, invest without borders.

Donald Trump’s Palm Beach estate, was originally listed at $125 million, but Dmitry Rybolovlev, one of Russia’s wealthiest businessmen, closed on the estate at $95 billion. Forbes, by the way, pegs Ryobovlev at #59 with an approximate net worth of $12.8 billion on its list of world billionaires. The fate of Trump’s former mansion? It is reported that Dmitry Rybolovlev intends to tear it down and build another.

Another Russian waterfront buy recently occurred on Britain’s ultra-exclusive Sandbanks Peninsula. There, an unnamed Russian businessman paid almost $9 million for a 5-year-old Sandbanks mansion that he, too, intends to tear down. Replacing the existing home will be an ultra-contemporary glass-fronted home–with a helipad on the beach.

Sandbanks, by the way, is listed as the fourth most expensive place in the world for real estate.

I can’t help but wonder if any of these Russian real estate investors might be interested in some of San Diego’s prime real estate. There is an exquisite Del Mar estate on 5.5 acres pf oceanfront property priced at just $76 million–or 1,952,363,937.376 Russian Roubles.

And of course, if an investor should be interested in this wonderful investment opportunity, or any others for that matter, please feel free to give me a call at either 877-818-8197 or 760-402-9101.

HT:
Moscow super-rich pour millions into luxury homes | Oddly Enough | Reuters

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