Miami has found a comfortable place among the leading cities of the world: London, New York, Hong Kong, Sydney, Singapore, LA, and Dubai. While London has taken the top spot as the place for the wealthy to park their wealth in urban real estate, Miami is catching attention for a different reason.
According to research firm Knight Frank, Miami is a rising star. While the financial crisis in 2008 left the city barren of investment, becoming the foreclosure and repossession capital of the country, it seems that there are now fruits to bear.
The Guardian reports that prices for prime property have leapt 91% in the last five years.
Complete report at www.theguardian.com.
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