Real Estate in Bolivia
Last updated on Jul 23, 2023
Summary: An expat looking to buy a home in Bolivia should begin by researching the local real estate market. They should look for listings on websites such as Zillow, Trulia, and Realtor.com, as well as local real estate agents. Homes in Bolivia typically include basic amenities such as running water, electricity, and gas. Many homes also have air conditioning, internet access, and security systems. Foreigners are allowed to own property in Bolivia, but there are certain restrictions. For example, foreigners are not allowed to own land within 50 kilometers of the border. Additionally, foreigners must obtain a special permit from the Ministry of Foreign Affairs in order to purchase property.
How do I find a place to live in Bolivia?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One of the best ways to find a place to live in Bolivia is to use online resources such as websites and classifieds. Websites such as Expat.com, Global Property Guide, and Bolivian Property Listings are great resources for finding rental properties in Bolivia. Additionally, classifieds such as Craigslist and local newspapers can be a great way to find a place to live in Bolivia. It is also possible to find a place to live in Bolivia by networking with people who are already living in the country. By talking to people who are already living in Bolivia, you can get a better understanding of the local housing market and find a place to live that fits your needs," explained one person living in Bolivia.
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What is a typical expat home or apartment like in Bolivia?
"Expat homes and apartments in Bolivia tend to be modern and comfortable, with amenities such as air conditioning, cable television, and internet access. Many expats choose to live in gated communities, which offer additional security and access to amenities such as swimming pools and gyms. Expat homes and apartments in Bolivia are typically spacious and well-furnished, with plenty of room for entertaining guests," said one expat who made the move to Bolivia.
What is the average cost of housing in Bolivia?
If you are thinking about moving to Bolivia, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Bolivia varies greatly depending on the location and type of housing. Generally, housing in the cities is more expensive than in rural areas. Renting an apartment in a city can cost anywhere from $200 to $500 per month, while renting a house in a rural area can cost as little as $50 per month," remarked one foreigner who made the move to Bolivia.
Should I buy or rent a home in Bolivia?
If you have not spent a lot of time in Bolivia, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Bolivia can be a great investment, as the country has a growing economy and real estate market. However, it is important to consider the cost of living in Bolivia, as well as the availability of financing options, before making a decision. Renting a home in Bolivia can be a great option for those who are not ready to commit to a long-term purchase, as it allows for more flexibility and can be more cost-effective in the short-term. Ultimately, the decision to buy or rent a home in Bolivia should be based on individual needs and preferences," said one expat in Bolivia.
What do I need to know when buying property in Bolivia?
When we asked expats what advice they would give a foreigner before buying a property in Bolivia, they said:
"1. It is important to research the local laws and regulations regarding property ownership in Bolivia before making any purchase. 2. It is advisable to hire a local lawyer to assist with the purchase process and to ensure that all legal requirements are met. 3. It is important to obtain a title deed for the property, which will provide proof of ownership. 4. It is important to be aware of any taxes or fees that may be applicable to the purchase of the property. 5. It is important to be aware of any restrictions or limitations that may be placed on the use of the property. 6. It is important to be aware of any zoning regulations that may apply to the property. 7. It is important to be aware of any potential environmental issues that may affect the property. 8. It is important to be aware of any potential risks associated with the purchase of the property. 9. It is important to be aware of any potential risks associated with the financing of the purchase. 10. It is important to be aware of any potential risks associated with the maintenance and upkeep of the property," explained one foreigner living in Bolivia.
Are foreigners allowed to own property in Bolivia?
When we asked expats what advice they would give a foreigner before buying a property in Bolivia, they said...
"Yes, foreigners are allowed to own property in Bolivia. According to the Bolivian Constitution, foreign citizens and companies are allowed to own real estate in Bolivia, provided they obtain the necessary permits from the Bolivian government. Foreigners are also allowed to purchase and own land in Bolivia, but they must obtain a special permit from the Ministry of Foreign Affairs. Additionally, foreigners are allowed to lease land in Bolivia for up to 99 years," explained one expat in Bolivia.
What appliances are typically included in a rental?
We asked foreigners in Bolivia 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:
"Rental properties in Bolivia typically include a refrigerator, stove, oven, and washing machine. Other common appliances may include a microwave, dishwasher, and air conditioning unit. Depending on the property, some may also include a clothes dryer," explained one person living in Bolivia.
Additional Information about Searching for a Home in Bolivia:
We asked foreigners in Bolivia 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 Bolivia by looking online for real estate listings, contacting local real estate agents, and asking other expats for recommendations. They can also search for rental properties on websites such as Airbnb and HomeAway. Additionally, expats can look for housing in local newspapers and classifieds, or attend open houses and viewings," said one in Bolivia.
About the Author
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.
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