In recent months, the United States has risen to become one of the top countries for property investments, creating an excellent opportunity for property companies, rental property managers and investors. This change is usually attributed to a number of factors, from the decline of the property bubble in China to improving economic conditions in the United States and Latin America. However, for some property companies around the world, their decline in success is due to another cause: the struggling value of the Russian ruble.

When gas prices fell in December, the Russian economy was one of the first nations to feel the consequences. That month, the ruble was worth 80 to every American dollar. Since then, the price of oil has stabilized to around $50 a barrel, no further sanctions have been imposed by the West and the country’s infamously high interest rates have dropped from 17% to 14%. However, recovery has still been slow, with 50 rubles currently equal to $1 US.

These problems have taken a toll on the nation’s real estate and rental property management industries as well, a fact that has worldwide repercussions. Take Mirland Development and Africa Israel Investments, for example: these Israeli property investment companies with significant holdings in Russian real estate have found themselves struggling. Mirland’s bonds haven’t moved on the Tel Aviv Stock exchange in the past two months, its London stocks are falling, and the worth of the ruble has significantly decreased their net operating income. Meanwhile, Africa Israel’s Tel Aviv shares have recently increased, but are still 30% bellow their levels in November, before Russia’s problems came to right.

In light of these problems, the property companies are attempting to improve their operations. Mirland, for example, is selling a projected 9,000 apartments and is also in the midst of debt-restructuring talks with its bondholders. However, given the effect their struggles in Russia have had on their company, it is perhaps no wonder that investors from around the world are flocking to American cities, looking for investment opportunities. If you’re a U.S. resident interested in property investment, this could be your chance: contact one of the top property management companies in your area today to begin planning your approach.