Cash-rich Venezuelans help resuscitate Miami real estate

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By Kevin Gray
Many Venezuelans have long had a love affair with Miami, but rarely has it been so intense – as least judging by the property market. The cash-rich South Americans are leading a charge into Miami real estate, helping to spur a recovery in a market that once stood as a poster child of America’s housing bust. Enticed by what they view as cheap real estate prices and paying in cash, Venezuelan buyers have snapped up condominiums, apartments and houses as investments or second homes. They are joined by other South Americans cashing in on recent heady economic growth in their region, which also weathered the global downturn fairly well. Wealthy Venezuelans, faced with dwindling investment opportunities back home and worried about what they describe as a crackdown on the country’s domestic housing market by leftist President Hugo Chavez, have become sought-after clients for real estate developers and brokers.”They pull out their checkbooks right away,” said Harvey Hernandez, a Venezuelan-born managing director of the Newgard Group, which is developing BrickellHouse, one of the first condo towers scheduled to be built since the real estate crash.


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Pamela Diaz-de-Leon With an accomplished background encompassing Diplomacy, Architecture, Business and Film, Pamela Diaz-de-Leon brings to the real estate industry the entrepreneurial expertise which stem from her interdisciplinary experience. Her world wide network of distinguished personalities carefully knitted of relationships formed in her five years as the Cultural Attaché for the Instituto Cervantes, serving the King of Spain, in Chicago, and her Hollywood connections acquired while working with a recognized film distributor, give her the global platform in which she has developed her business with great success. Knowledgeable, informed and organized she holds ethics and integrity as her highest values thus, providing her customers with an excellence of service that ensures their utmost satisfaction and their continued loyalty to her work. Office. 305.677.5055 Cell. 305.720.8439
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