As wealthy Brazilians snap up Miami real estate, few benefit

Facing a teetering economy at home, wealthy Brazilians have been pouring money into what they increasingly see as the safest place to invest: South Florida real estate.

So are Argentinians, Colombians, Mexicans, Venezuelans, French and Turks — almost anyone with money to shelter, a direct flight to Miami and a shaky economy to flee.

Their cash has helped drive the latest twist in Miami’s ever-evolving transformation — from a 19th century rail stop to a tourist-and-retiree hub to a haven for Cuban refugees to now a harbor for global investors. No American skyline has undergone a more drastic face-lift from foreign cash in the past decade: Luxury condo towers and swanky retailers crowd a downtown once marred by empty lots.

Read more…

http://www.sun-sentinel.com/business/realestate/sfl-miami-real-estate-brazilians-story.html

http://www.RSF-TRUST.com
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#JeanDeglon

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