Wealthy Russians are looking to spend big on U.S. real estate in the wake of Donald Trump's election victory.

The number of Russians who have expressed interest in buying luxury properties in the U.S. has spiked by 35% over the previous year following the billionaire's win, according to global real estate consultancy Knight Frank.

It said Russians are interested in vacation homes as well as investment properties.

Nearly all are looking to spend between $500,000 and $5 million on a residential property, while 10% are hoping to buy commercial real estate.

Some investors see Trump's election as a sign that relations between Russia and the West may soon improve.

Trump has praised Vladimir Putin as a strong leader, and the Russian president has made clear that he preferred Trump over his rival Hillary Clinton.