Description of Venezuela
While it’s true to say that Venezuela is still pretty deep in financial crisis, this doesn’t mean there aren’t solid investment opportunities on the cards for international property buyers. Inflation is high and the economy is expected to continue contracting but at the same time, Venezuela operates a pretty wide-open buyers’ market for foreigners and isn’t nearly as gloomy as you might expect. For example, an outright lack of desirable housing means that the right rental property in Caracas can net the owner yields as high as 15 per cent. Admittedly, this is diluted a little by the rather high 34 per cent rate of income tax, but it’s still perfectly possible to make sure the balance is tipped the right way.
Current Property Prices in Venezuela
How to Buy Overseas Property Safely
Key Facts:Currency: VENEZUELAN BOLÍVAR
Time Zone: Venezuela Time Zone
GDP: $209.226 billion