Psst… Looking For A Safe Haven? Property In Miami Might Be Just The Ticket

Miami PropertyI was in a queue waiting to enter a waterpark yesterday and someone approached our party to ask if we wanted to buy a couple of tickets that would give us full access to all the facilities.

I wouldn’t normally take a risk on this type of thing, however the ticket was some way cheaper than the entrance fee. The downside was there was no guarantee that this random offer would save us money or get us an upgrade.

I decided that buying the tickets was worth the risk and managed to get the full access for half the price at the gate. This was a good result – I even got access to the wellness centre included.

As a property investor do you ever find yourself wondering if someone could hand you a ticket to an investment that halved your commitment and gave you a satisfying return on investment?

These kinds of offers don’t come around often which is why Miami property is such a screaming buy right now.

Miami might not have been the first city to spring to mind – after several years of a slump you may well have missed the news that the city is back.

I can tell you the champagne launches are well and truly under way in Miami, the city has come a long way from the depressed real estate market we saw back in 2008. Much of this recovery has been fuelled by foreign investment from South America.

Cash rich Brazilians riding the crest of their own property boom are keen to invest their money in a city they know only too well as are Venezuelan investors, the first to arrive in numbers to take advantage of property prices less than a third of what they were at the peak of the last real estate boom.

South Americans were the top investors in Miami property with Venezuelans heading the list accounting for 15 percent of all sales in 2011.

Evidence from past Miami property booms suggests that political unrest in South America fuels investment in Miami property. According to press reports political troubles are again a factor in Venzeuela and potentially more so with the loss of Chavez and the power vacuum he left behind.

Prime property in Miami has seen an average price increase of more than 21% in the past 12 months and with prices still having some way to go to recover lost ground, Miami looks set to continue holding the title for the best safe haven city in the western world in 2013.

Where will you be looking for a safe haven in 2013? Please leave your comments below:

Kind regards

Brett Tudor
Property Expert

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