Venezuela: Price History

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The Venezuelan crisis rolls on!

The administration openly tolerates the popular expropriation of properties and the violation of property rights. In Altos Mirandinos, 683 "property invasions" were recorded in 2005 in which houses were simply seized by squatters.

Emergency situation

In Caracas, it was the mayor who declared an "emergency situation" in January 2006, and allowed 13 buildings to be occupied, and the days following his action 32 more buildings were invaded or occupied.

The lack of new supply caused by Chavez' policies has made Venezuelan real estate actually rise by 35%, according to the President of Metropolitan Real Estate Chamber of Commerce. The claim is largely rhetorical, because the uncertain situation is not good for property values.

Invasions of property by poor people have occurred throughout Venezuela, with the government turning a blind eye. Properties residents in some towns are even formed self-defense forces to avert building invasions.

For what it is worth, Venezuela is an open market to foreigners. Any foreigner can buy property in Venezuela with just a valid passport, a tourist visa and a Registro de Informacion Fiscal (RIF).

The RIF is a fiscal identification for all persons, and can be obtained for free by request at any Tax Administration office or the Servicio Nacional Integrado de Aministracion or through a lawyer.

Venezuela - more data and information

• Venezuelan house prices, rents, and letting income - real data!
• How expensive are houses in Venezuela, compared to the rest of Latin America?
• How much rent can be earned from Venezuelan property, compared to the rest of Latin America?

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