Support The Moscow Times!

Now is the time to support independent reporting from Russia!

Contribute Today

Russians 9th for U.S. Real Estate Purchases

A "For Sale" sign adorns the front yard of a Victorian-style home along Guerrero Street in San Francisco, Northern California.

Russian homebuyers ranked ninth on the list of foreign citizens who followed the American dream to its most physical conclusion and purchased real estate in the U.S. in 2013, a recent study found.

Russian buyers took 2 percent of all purchases by foreign citizens in 2012 and 2013, with their share dropping slightly in the first quarter of 2014 to 1 percent of all reported purchases, according to the study by the National Association of Realtors, a U.S. real estate trade association.

Canadians led the list, with 23 percent of all purchases by foreign citizens in 2013. Chinese buyers are catching up fast, however, rising from 9 percent of buys in 2010 to 12 percent last year.

The most purchases by foreign citizens were observed in the balmy states of Florida, California, Texas and Arizona.

See also:

Russians 3rd Biggest Real Estate Buyers in Italy

Read more