How the panorama of the real estate market in Venezuela is projected
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Loading... - Ryan Taylor
- 31 Mar 2023
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The real estate market situation is currently complex. The sector, like the Venezuelan economy, has given minimal signs of being able to take off again, although without much success due to political decisions that only those who govern this country can help to "solve". Venezuelans struggle in the midst of neglect to survive. The purchase of food is increasingly limited, saving is a daunting task, renting or buying a home seems like an impossible mission for most.
Beyond the fact that confidence can be generated to be able to invest in real estate, notable changes are needed so that the momentum of the sector is greater and there are real possibilities of being able to achieve it. The million dollar question is: Is it possible to happen? La Patilla spoke with Roberto Orta Martínez , president of the Real Estate Chamber of Venezuela to respond to concerns about how a market that has been waiting for many years could become massive.
The current state of the real estate market in Venezuela has stagnated due to a lack of access to resources. According to the lawyer Roberto Orta Martínez , the sector has remained relatively the same for the last four years, although in the second half of 2022 slight price increases began to be perceived in some urbanizations of the main cities of the country, such as: Caracas, Valencia, Barquisimeto or Dairy .
“These are very slight increases that, both in volume and in prices, do not exceed 10%. Even in some urbanizations the increase is perceived and in other slight decreases in prices” , he mentioned.
For the president of the CIV , the reason is that currently there are no bank loans for the acquisition of real estate and still in terms of rentals, the necessary legal reforms have not been given.
"Mainly, we think that these slight increases occur after the end of the pandemic where there is greater commercial activity and that obviously can be reflected in some prices, due to the greater economic movement after the pandemic." Read More…
