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Real Estate in Venezuela | Expat Exchange
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Caracas, Venezuala

Real Estate in Venezuela

By Betsy Burlingame

Last updated on Apr 05, 2023

Summary: An expat looking to buy a home in Venezuela should begin by researching the local real estate market and familiarizing themselves with the different neighborhoods and areas. They should also consider enlisting the help of a local real estate agent who can provide more detailed information about the properties available. Homes in Venezuela typically include basic amenities such as running water, electricity, and gas. Many homes also have air conditioning, security systems, and other modern amenities. Foreigners are allowed to own property in Venezuela, but there are certain restrictions. For example, foreigners are not allowed to own land within 50 kilometers of the coast or within 100 kilometers of the border. Additionally, foreigners must obtain a special permit from the government in order to purchase property.

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How do I find a place to live in Venezuela?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"My family and I chose a HUGE house in the La Virginia neighborhood. The rent is expensive, but we spent nearly three months living in a hotel before finding anything we liked," explained one person living in Maracaibo, Venezuela.

"One way to find a place to live in Venezuela is to search online for rental listings. Websites such as Encuentra24.com and Lamudi.com.ve are popular sites for finding rental properties in Venezuela. Additionally, you can also search for rental listings on social media sites such as Facebook and Twitter. Additionally, you can also contact local real estate agents who can help you find a suitable place to live. Finally, you can also ask around in your local community for recommendations on rental properties," said one expat in Venezuela.

"When looking for a place here, you must go through an agent, who you the renter will have to pay one month's rent as commission. The trick is to use several agents because depending on your budget, they forget about you. We chose a neighborhood that was first safe and then close to everything since I don't drive. We chose an apartment for security reasons (most buildings have 24 hour security) and it has less upkeep," remarked one member in Caracas.

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What is a typical expat home or apartment like in Venezuela?

"Expat homes and apartments in Venezuela tend to be modern and comfortable, with air conditioning, internet access, and other amenities. Many expats choose to live in gated communities, which offer a greater sense of security and privacy. Expat homes and apartments often come with a variety of amenities, such as swimming pools, gyms, and other recreational facilities. Expats also have access to a wide range of international restaurants, shops, and other services," explained one person living in Venezuela.

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What is the average cost of housing in Venezuela?

If you are thinking about moving to Venezuela, cost of living in probably a key consideration. Expats commented about the cost of housing:

"In comparison to South Florida, housing prices are much more expensive. There are expats who pay 3,000 Euro for a 3 bedroom, two bathroom apartment. I would say the average cost for a 2 bedroom, 2 bathroom apartment is about $1,200," said one person in Caracas.

"The cost of housing in Venezuela is generally quite high, with prices varying depending on the location and type of property. In general, the cost of renting a house or apartment in Venezuela is significantly higher than the cost of buying a property. Additionally, the cost of living in Venezuela is generally higher than in other countries in the region," remarked one foreigner who made the move to Venezuela.

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Should I buy or rent a home in Venezuela?

If you have not spent a lot of time in Venezuela, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"Buying a home in Venezuela can be a great investment, as the country has a strong economy and real estate market. However, it is important to consider the current political and economic situation in the country before making a decision. Renting a home in Venezuela may be a more cost-effective option, as it allows you to avoid the costs associated with buying a home, such as closing costs, taxes, and maintenance. Additionally, renting a home can provide more flexibility, as you can move to a different location if needed. Ultimately, the decision to buy or rent a home in Venezuela should be based on your individual needs and financial situation," explained one person living in Venezuela.

What do I need to know when buying property in Venezuela?

When we asked expats what advice they would give a foreigner before buying a property in Venezuela, they said:

"1. It is important to research the local laws and regulations regarding property ownership in Venezuela before making any purchase. 2. It is also important to ensure that the property is legally registered and that all necessary paperwork is in order. 3. It is advisable to hire a local lawyer to assist with the purchase process and to ensure that all legal requirements are met. 4. It is important to be aware of the current political and economic situation in Venezuela, as this may affect the value of the property. 5. It is also important to be aware of any potential risks associated with purchasing property in Venezuela, such as the risk of expropriation or seizure by the government. 6. It is advisable to obtain a survey of the property before making any purchase, to ensure that it is in good condition and that there are no hidden problems. 7. It is also important to be aware of any potential taxes or fees that may be associated with the purchase of property in Venezuela," said one foreigner living in Venezuela.

Are foreigners allowed to own property in Venezuela?

When we asked expats what advice they would give a foreigner before buying a property in Venezuela, they said...

"Foreigners are allowed to own property in Venezuela, but the process is complicated and can be difficult to navigate. Foreigners must obtain a visa and register with the Venezuelan government in order to purchase property. Additionally, the Venezuelan government has the right to reject any purchase of property by a foreigner. Furthermore, the Venezuelan government has the right to expropriate any property owned by a foreigner. Therefore, it is important for foreigners to understand the legal requirements and risks associated with purchasing property in Venezuela before making any decisions," said one person in Venezuela.

What appliances are typically included in a rental?

We asked foreigners in Venezuela what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:

"In Venezuela, rental properties typically include a refrigerator, stove, oven, and washing machine. Additionally, some properties may also include air conditioning units, dishwashers, and other appliances," said one foreigner living in Venezuela.

Additional Information about Searching for a Home in Venezuela:

We asked foreigners in Venezuela what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...

"Expats can search for homes in Venezuela by looking online for real estate listings, contacting local real estate agents, and networking with other expats who may have knowledge of the local housing market. Additionally, expats can look for housing options in newspapers, magazines, and other publications. Additionally, expats can attend local expat events and meet-ups to network and learn more about the local housing market," explained one person living in Venezuela.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.

Caracas, Venezuala

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