Experience from the UK shows that buyers of high-end properties will pay significant sums to protect their privacy. That suggests that new rules for Manhattan and Miami-Dade, which will force buyers using shell companies to reveal their identities, will encourage a significant proportion of them to buy homes in other areas of the US or, more likely, other countries. Coupled with the strength of the dollar and fall in the oil price, the outlook for prime property in those two areas therefore looks poor.
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