URC Real Estate Experts Predict Negative Impact of the US Sanctions Against Russia

With Increasing Interest of Russian Investors over the Past Few Years, the US Luxury Market will Suffer Heavily from the Current Sanctions, Says a Real Estate Expert from the United Relief Centre

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(PRWEB) June 12, 2014

United Relief Centre, a leading financial aid provider known for its role in educating real-estate investors and buyers through expert opinions and forecast, has taken an initiative to warn real estate professionals and consumers regarding the impact of recently applied US sanctions against Russia. According to one of the most experienced real estate experts working for the URC, Russian nationals in the US were becoming highly interested in luxury real estate markets of major cities such as New York and Miami.

In this aspect, the expert explained how numerous luxury realtors who work as allies with the URC have shared their stories regarding potential real estate buyers from Russia pulling out from the market, “At URC, we work with reputable realtors in all the major markets of the US. We have been told about a few Russian officials in the US who were interested in buying luxury properties but have now backed out after the sanctions. Looking at the properties they usually purchase, we can easily estimate a loss of 25 million to 50 million USD per buyer,” he predicted.

Highlighting the importance of foreign investment in the US, the URC expert shared some rough real estate figures, which depict that nearly 40 percent of the New York real estate consumers are foreign investors or buyers from Russia, China, and the Middle East. According to the spokesperson, the government should try to mitigate the effect by expediting its efforts of making the US real estate market more lucrative for other buyers and investors from the other side of the world.

While the United Relief Centre Expert predicted a negative impact, he stated that the impact will not last long. “The sanctions will end sooner or later, but even if they don’t, Russian buyers will eventually return to the market. However, they are more likely to make smaller purchases rather than headline-making luxury deals like before,” he concluded.

To remain up-to-date with current happenings in the US and Canada real estate and housing industry, please visit the website http://www.unitedreliefcentre.com.

About United Relief Centre
United Relief Centre is an organization founded by a team of financial experts from the US and Canada. The organization provides advocacy and support to people looking for financial help in the areas of real estate, investing, credit, and debt settlement. The major objective of the organization is to bridge the distance between those who seek help and those who are able to provide it. It spread awareness regarding relief programs, mortgage products, and financial help options that are available for people in financial distress. By promoting better awareness of available option, URC aims to help people improve their financial standing and play a better role in economic development.

For contact, please use the following details:

Contact Details:
Address:
500 King Street West
Toronto
Ontario M5V 1L9
Phones:
+1 416 900 3825
+1 416 900 3881
E-mail:
info(at)unitedreliefcentre(dot)com


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