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January 2012

The Russians are coming

What trends are YOU seeing with foreign buyers in your markets?

In London, the Russians are coming.  Facing political uncertainty at home, wealthy Russians have been snapping up luxury homes in London's tony neighborhoods.  According to sources cited in this Bloomberg story, Russians accounted for 16% of all recent transactions in the Chelsea, Kensington, Knightsbridge and Belgravia neighborhoods, and about 38% of all home sales of more than £10 million last year.