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 a member in Venezuela.

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