Real estate folly: the latest news from Venezuela

Venezuela, after the various political and social unrest, seems to be recovering slowly. But it is not enough to completely revive the economy of the country.
The minimum wage is sufficient to buy only a can of tuna, the population is little oriented towards the purchase of new buildings and above all, the few who enjoy a roof over their heads, do not pay the rent.

Why has Venezuela become, in the last year, a case to study in all the economics and statistics faculties?
The real estate market is a real nightmare for the local population! (But very useful for foreigners who want to buy an apartment in Venezuela).

Why ?
The local currency, the bolivar, is one of the most devalued in the world.



The owners then try to close their operations with a single currency that is decidedly stronger and more stable: the dollar

Since buying houses in dollars, transactions are performed with institutions outside the national borders.

Reason why, investing in luxury homes in Venezuela is a brilliant idea in this period!

The citizens, just to be able to get to the end of the month, prefer to give up second homes, selling them at bargain prices.

Suffice it to say that the other prices relating to the goods of the basket tend to increase more and more each day.

Here is a list of essential products to get an idea of the numbers around which we are thinking.



1 tuna box of 140 grams: 1.1 million bolivars


1 kilo of chicken: 1.37 million


1 kilo of cheese: 2.8 million


1 kilo of potatoes: 679,995 bolivars


2 rolls of toilet paper: 688,000 bolivars


12 eggs: 526,000 bolivars



The price of coffee doubles every month exponentially.

Inversely proportional is the phenomenon that hits the buildings, which instead, see their value fall on the market.

The country of Maduro therefore experiences a real paradox:

the richest under the point of view of natural resources and scenic beauty, but the poorest from the economic point of view.

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