The purchase of a piece of property in America, a single-family house, a PUD (planned unit development) or a condo (flat within a condominium) will guarantee you and your family a green card. This is one of the extreme measures implemented to help stall the meteoric fall of the United States economy in light of the economic crisis, Bulgarian weekly Stroitelstvo Gradut reported on January 15.

Thirty-five accredited investors will have the opportunity to acquire real estate in the south-eastern state of Florida - by purchasing a house - they will be granted a green card for permanent residence and right of employment for the buyer himself and his/her entire family.

Additional conditions are that the prospective buyer must have a clean criminal record, a good credit record, the ability to present and prove a decent monthly income, and no outstanding financial obligations or credit liabilities. The purchase itself can be done either with cash, bank transfer or monthly instalments, but the financial resource must be proven legitimate.

The US government has allocated 10 000 such visas nation-wide for potential investors in real esate, under a programme approved by the US Congress. Florida's is the first such programme that has actively been given the green light to commence. Specialists in the field argue that this is the best time to invest and purchase property in America, as prices in some states have been slashed by as much as 25 per cent. Experts argue that within three years' time, however, the market will stabilise and prices will rise.