Risk Assessment & Market Research

• Develop a clear understanding of Venezuela’s political and economic situation
• Research historical property values in target areas over the past 10-15 years
• Join online forums for expatriates and investors in Venezuela
• Connect with Venezuelan diaspora communities for insights
• Assess property type performance (commercial, residential, vacation)
• Analyze security situations in potential investment locations
• Understand infrastructure stability (electricity, water, internet) by neighborhood
• Research historical property rights enforcement in target regions

Financial Preparation

• Allocate only non-essential capital that can be committed long-term
• Understand that bank financing in Venezuela is generally not available to foreigners
• Prepare for all-cash transactions (typically in USD)
• Develop strategy for transferring funds safely to Venezuela
• Research currency exchange mechanisms and banking options
• Establish relationships with international banks that operate in Venezuela
• Consider cryptocurrency options for transactions where appropriate
• Budget for higher than normal transaction costs and contingencies

Professional Network Development

• Identify and vet experienced real estate attorneys specializing in foreign clients
• Connect with reputable real estate agents with international experience
• Research property management companies with track records serving foreign owners
• Establish relationship with notaries who understand international transactions
• Identify reliable local contractors for potential renovations
• Find accountants familiar with cross-border tax implications
• Connect with existing foreign property owners in target areas
• Consult with security specialists regarding property protection

Expert Tip: Plan an extended exploratory trip to Venezuela before making any purchase decisions. Most foreign investors who succeed in this market make at least two visits: an initial research trip to understand the market and meet potential service providers, followed by a property-viewing trip once they’ve narrowed down their target areas. While online listings exist, they often don’t accurately represent current conditions, and nothing substitutes for on-the-ground assessment in Venezuela’s rapidly changing environment.

Regulatory Reality: While Venezuelan law allows various ownership structures, the practical implementation can be challenging. The regulatory environment remains fluid, with documentation requirements and processes sometimes changing without notice. Maintaining an active relationship with a Venezuelan attorney even after purchase completion is essential for ensuring ongoing compliance with evolving requirements, particularly for corporate structures.

Banking Setup

• Venezuelan Bank Account Options:
  • Traditional Venezuelan banks: Difficult for non-residents to open accounts
  • International banks with Venezuelan presence: Limited operations but provides best option (Banco Mercantil, BBVA Provincial)
  • Dollar accounts: Recently authorized but with limited functionality
  • Alternative: Many foreign owners operate without local bank accounts, using cash or international transfers
• Banking Challenges:
  • Strict documentation requirements for account opening
  • Limited international transfer capabilities
  • Restrictions on currency exchange
  • High fees for international transactions
  • Limited online banking functionality
• Banking Strategies:
  • Maintain primary funds in international accounts
  • Use local attorney’s client accounts for transactions
  • Consider dual-currency account options where available
  • Establish relationship with international bank that has Venezuelan operations

Financing Options

Traditional mortgage financing is extremely limited in Venezuela:

• Local Mortgage Market:
  • Essentially non-existent for foreign buyers
  • Even domestic mortgages are limited due to economic conditions
  • Interest rates prohibitively high when available
• Alternative Financing Options:
  • Seller Financing: Occasionally available from motivated sellers, particularly expatriates leaving the country
  • Developer Financing: Some new developments offer payment plans (typically short-term)
  • International Equity Release: Using existing properties in North America to finance Venezuelan purchases
  • Private Lending: Through family offices or private investors familiar with the market
• Financing Reality:
  • Most transactions are cash-based
  • Property prices are often negotiable with significant discounts for immediate cash payment
  • All-cash offers provide significant negotiating leverage

Currency Management

Currency considerations are critical when investing in Venezuela:

• Currency Environment:
  • Official currency is the Venezuelan Bolivar (VES)
  • Significant inflation despite recent moderation
  • De facto dollarization in many sectors, especially real estate
  • Multiple exchange rates may exist simultaneously
• Transaction Practices:
  • Most real estate transactions negotiated and completed in USD
  • Property values typically quoted and maintained in USD to avoid inflation effects
  • Cash often preferred for transactions, though bank transfers increasingly accepted
  • Official documentation may show lower bolivar values (tax mitigation strategy)
• Currency Transfer Options:
  • International wire transfers to attorney escrow accounts
  • Currency exchange services specializing in Venezuela
  • Cryptocurrency transactions gaining limited acceptance
  • Physical cash (with appropriate security measures)

When managing a Venezuelan property investment, maintaining value in hard currency is essential. Most successful foreign investors minimize their bolivar exposure, conducting transactions in USD and keeping operational reserves in international accounts with periodic transfers as needed for local expenses.

Property Search Resources

• Online Property Portals:
  • TuCasaEnVenezuela – Local property listing site
  • Con La Llave – Venezuelan real estate portal
  • Encuentra24 – Regional listing platform
  • Facebook groups and Instagram accounts of local agents
• Real Estate Agents:
  • Focus on agencies with international client experience
  • Larger agencies in Caracas with multilingual agents
  • Specialized agents in tourist areas (Isla Margarita, Mérida)
  • Note: exclusive buyer representation is uncommon in Venezuela
• Direct Sourcing:
  • Building security staff in target neighborhoods
  • Expatriate community networks
  • Local business connections
  • Venezuelan diaspora communities abroad
• Developer Direct:
  • New construction in secure developments
  • Renovation projects in established areas
  • Mixed-use buildings with management services

Property Viewing Trip Planning

Property viewing in Venezuela requires additional security and logistical planning:

1. Pre-Trip Security Assessment:
   • Consult current travel advisories for specific regions
   • Arrange secure accommodation in established neighborhoods
   • Schedule viewings during daylight hours only
   • Arrange trusted transportation between properties
2. Trip Logistics:
   • Plan at least 7-10 days for comprehensive viewings
   • Bring USD cash for expenses (credit cards have limited functionality)
   • Arrange reliable internet access for research and communications
   • Schedule meetings with attorneys and notaries during your stay
3. During Viewings:
   • Focus on building security features and backup systems
   • Test utilities (water pressure, electricity stability, internet)
   • Assess neighborhood safety at different times of day
   • Inquire about recent similar transactions in the building
4. Post-Viewing Assessment:
   • Conduct independent valuation verification
   • Research building’s condominium association stability
   • Verify utility and maintenance costs
   • Assess renovation needs and contractor availability

Property Evaluation Criteria

Assess potential investments using these Venezuela-specific criteria:

• Security Factors (Priority):
  • Building security systems and personnel
  • Neighborhood safety reputation and police presence
  • Access control and perimeter security
  • Emergency power systems (generators)
  • Water storage capacity
• Infrastructure Stability:
  • Frequency and duration of electricity outages
  • Water supply reliability and pressure
  • Internet connectivity options and reliability
  • Cellular signal strength and provider options
  • Road access and condition
• Building Quality & Management:
  • Construction quality and maintenance standards
  • Condominium association financial health
  • Common area condition and upkeep
  • Percentage of foreign owners in building
  • Management transparency and effectiveness
• Financial Considerations:
  • Price comparison to historical values in USD terms
  • Current rental market for similar properties
  • Condominium fees and payment compliance
  • Property tax assessment and history
  • Insurance costs and coverage availability

Expert Tip: When evaluating properties in Venezuela, always bring a battery-powered flashlight, a portable phone charger, and a small bottle of water during viewings. This allows you to test water pressure, examine dark areas during potential power outages, and remain comfortable during extended visits. Plan viewings during both morning and evening hours to assess power reliability, water pressure at peak usage times, and security conditions after dark. While agents may highlight a property’s aesthetics, your focus should be on infrastructure reliability, security features, and build quality, as these factors will significantly impact both livability and investment returns in Venezuela’s challenging environment.

Legal Due Diligence

• ✓
  Complete Title Investigation: At least 20 years of ownership history to identify potential competing claims
• ✓
  Registry Office Verification: Confirm property is correctly registered and documents are authentic
• ✓
  Municipal Tax Status: Verify all property taxes (impuesto municipal) are current
• ✓
  Utility Payment Status: Check for outstanding utility bills that could become your liability
• ✓
  Condominium Status: For apartments, verify payment status of condominium fees
• ✓
  Land Use Verification: Confirm zoning allows intended use of property
• ✓
  Special Permissions Check: Identify any requirements for military or other permissions
• ✓
  Inheritance Claims Review: Investigate potential inheritance challenges (common in Venezuela)

Physical Due Diligence

• ✓
  Professional Inspection: Complete structural assessment focusing on water damage, foundation, and roof
• ✓
  Infrastructure Assessment: Test water pressure, electricity stability, and backup systems
• ✓
  Security Evaluation: Assess building/neighborhood security features and history
• ✓
  Water Storage Capacity: Verify water tanks and pumping systems (critical in Venezuela)
• ✓
  Generator Systems: Test backup power systems, fuel storage, and maintenance records
• ✓
  Internet Connectivity: Verify available providers, speeds, and reliability
• ✓
  Flood/Disaster Risk: Assess vulnerability to flooding, landslides, or other natural hazards

Financial & Community Due Diligence

• ✓
  Value Verification: Obtain multiple independent appraisals in both VES and USD
• ✓
  Historical Value Analysis: Research pre-crisis values to understand recovery potential
• ✓
  Rental Market Research: Verify current rental rates with multiple agencies
• ✓
  Vacancy Assessment: Determine typical vacancy periods in the specific area
• ✓
  Utility Costs: Document typical electric, water, and maintenance costs
• ✓
  Neighborhood Interview: Speak with other property owners about their experiences
• ✓
  Building Community: For condominiums, evaluate financial health of condo association
• ✓
  Exit Strategy Assessment: Research foreign buyer demand in the specific area

Expert Tip: In Venezuela, nothing replaces visiting the property at different times of day and different days of the week. This allows you to assess security conditions, power/water reliability, and noise levels across various scenarios. Consider staying in a nearby hotel or rental for at least 3-4 days before making a purchase decision. Pay special attention to the existence and condition of water pumps, tanks, and generators – in many areas, these are not luxuries but essential infrastructure.

Pre-Contract Phase

1. Initial Agreement: After negotiating price, a preliminary agreement (documento de arras) is often signed
2. Deposit Payment: Typically 10-20% of purchase price placed in attorney’s escrow account
3. Due Diligence Period: Attorney performs title searches and verification of property status
4. Cadastral Certificate: Obtain certificate from local municipality confirming property boundaries
5. Tax Clearance: Verify seller has paid all property taxes and condominium fees

Unlike in some other countries, verbal agreements carry little weight in Venezuelan real estate transactions. All agreements should be documented in writing, even at early stages. The preliminary deposit is often held in USD in an attorney’s escrow account since the banking system has limitations.

Contract & Closing Process

1. Purchase Contract: The attorney prepares a detailed purchase agreement (documento de compra-venta)
2. Document Collection: Gather all required documents from buyer and seller:
   • Buyer’s identification documents (passport, tax ID)
   • Seller’s identification documents
   • Original property title
   • Property tax receipts (last 5 years)
   • Cadastral certificate
   • Utility bills showing no outstanding debts
   • Condominium solvency letter (for apartments)
3. Notary Public Visit:
   • Both parties appear before the public notary (Notaría Pública)
   • Notary reviews and authenticates all documents
   • Both parties sign the deed transfer document
   • Payment of notary fees (1-2% of property value)
4. Property Registry:
   • Registration of the deed with the Public Registry Office (Registro Público)
   • Payment of registry fees (0.5-1% of declared value)
   • Issuance of new property title in buyer’s name
5. Final Payment & Transfer:
   • Balance of purchase price paid to seller
   • Keys handed over to new owner
   • Update of utility accounts to new owner’s name

The entire process typically takes 30-60 days from initial agreement to final registration, though delays can occur due to administrative backlog in registry offices. Foreign buyers should be prepared for potentially slower processing times due to additional verification steps.

Transaction Costs

Budget for these transaction expenses in a Venezuelan property purchase:

• Legal Fees: 1-3% of purchase price for attorney services
• Notary Fees: 1-2% of declared property value
• Registry Fees: 0.5-1% of declared property value
• Municipal Tax: Varies by municipality, typically 0.5-1%
• Income Tax Withholding: 3% of purchase price (for non-residents, potentially recoverable)
• Real Estate Agent Commission: 5-7% (if using agent, typically paid by seller)
• Property Appraisal: $200-500 USD
• Currency Exchange Costs: Vary based on method and amount

Total transaction costs typically range from 6-10% of the purchase price, though these can fluctuate based on the municipality, the property’s value, and whether all parties are physically present for the closing.

It’s worth noting that some costs may be negotiable, and in practice, properties are sometimes officially registered at values below actual transaction prices to reduce tax obligations. While common, this practice carries legal risks and is not recommended for foreign investors.

Expert Tip: For foreign buyers who cannot be physically present for all stages of the transaction, it’s essential to arrange a comprehensive Power of Attorney for your Venezuelan attorney. This document should be prepared in both Spanish and English, notarized in your home country, apostilled according to the Hague Convention, and then authenticated by the Venezuelan consulate in your country. While this process adds time and cost, it provides the necessary legal authority for your representative to act on your behalf throughout the transaction process.

Administrative Tasks

• ✓
  Property Registration Verification: Confirm title transfer is properly registered with Public Registry
• ✓
  Municipal Registration: Register ownership with local municipality for property tax purposes
• ✓
  Utility Transfers: Transfer electricity, water, gas, and internet accounts to your name
• ✓
  Condominium Registration: Register with building administration (for apartments/condos)
• ✓
  Security System Setup: Install or upgrade security systems as needed
• ✓
  Property Insurance: Secure appropriate property and liability insurance
• ✓
  Tax Registration: Register with tax authorities (SENIAT) if rental income is anticipated

Property Improvements

Most foreign investors in Venezuela find it necessary to implement some property improvements:

• Backup Power Systems:
  • Install or upgrade generators appropriate to the property size
  • Consider solar power systems for critical functions
  • Add battery backup systems for essential electronics
  • Ensure automatic transfer switches for seamless power transition
• Water Systems:
  • Upgrade water storage tanks to appropriate capacity (minimum 2-3 days’ supply)
  • Install water filtration and purification systems
  • Ensure pumping systems have backup power connections
  • Consider rainwater collection systems where practical
• Security Enhancements:
  • Upgrade doors, windows, and locks to international security standards
  • Install monitored alarm systems with cellular backup
  • Consider CCTV systems with remote monitoring capabilities
  • Improve perimeter security with appropriate measures
• Communications:
  • Install multiple internet connections from different providers
  • Consider satellite internet as backup
  • Ensure cell signal boosters if reception is weak
  • Set up VoIP systems for international calling

Given infrastructure challenges in Venezuela, these improvements should be considered essential investments rather than optional upgrades. They significantly impact both property livability and potential rental value. Budget between 5-15% of property value for these improvements, depending on the current state of the systems.

Property Management Setup

For foreign investors, establishing a reliable property management system is essential:

• Local Representative:
  • Appoint trusted local property manager or representative
  • Formalize relationship with clear contract and authorization documents
  • Establish emergency response protocols
  • Define communication expectations and reporting schedule
• Financial Management:
  • Set up systems for collecting rental payments (typically in USD cash)
  • Establish clear procedures for expense approvals
  • Arrange methods for transferring funds internationally
  • Implement accounting systems for tracking income and expenses
• Maintenance Systems:
  • Identify and contract reliable service providers for critical systems
  • Create maintenance schedules for all major systems
  • Establish emergency repair protocols and contacts
  • Budget appropriately for ongoing maintenance in USD
• Documentation:
  • Create a secure system for storing important property documents
  • Keep digital copies of all legal and ownership documents
  • Maintain detailed inventory of property contents with photographs
  • Document all property improvements with before/after images

Given Venezuela’s unique challenges, it’s strongly recommended to visit the property at least annually and maintain regular communication with your property manager. Consider implementing remote monitoring solutions (cameras, environmental sensors) that allow you to check on your property’s status from abroad.

Expert Tip: Foreign property owners often find it advantageous to employ a property caretaker who lives on-site or visits daily even when the property is not occupied. This presence significantly reduces security risks and allows immediate response to maintenance issues like water leaks or power outages before they cause major damage. The cost is minimal (typically $50-150 USD monthly depending on responsibilities) compared to the potential cost of unaddressed problems. Additionally, an occupied property is much less likely to be targeted for break-ins or squatting.

Venezuelan Tax Obligations

• Property Tax (Impuesto Municipal):
  • Annual tax collected by local municipalities
  • Rates vary by municipality and property value (typically 0.05-0.5% of assessed value)
  • Based on cadastral value (typically well below market value)
  • Payment procedures vary by location (some accept USD, others only VES)
• Income Tax on Rental Income:
  • Non-resident landlords taxed at progressive rates up to 34%
  • Limited deductions available for expenses
  • Rental income typically collected in USD but reported in VES
  • Annual tax declaration required (complex for foreign owners)
• Capital Gains Tax:
  • Taxed as regular income at progressive rates up to 34%
  • Based on difference between purchase and sale price
  • Currency valuation issues make calculation complex
  • Some exemptions available for primary residences (not applicable to most foreign investors)
• Value Added Tax (IVA):
  • Currently 16% on most goods and services
  • Generally not applicable to residential real estate sales
  • May apply to commercial properties or certain services
• Stamp Tax:
  • Applied to official documents and certain legal transactions
  • Variable rates depending on document type and transaction value
  • Typically paid during transaction process

Due to high inflation and currency instability, tax calculations in Venezuela can be complex. Multiple exchange rates and frequent regulatory changes further complicate compliance. Working with a Venezuelan tax specialist is strongly recommended for all foreign property owners.

Home Country Tax Obligations

The specific tax treaties between Venezuela and North American countries provide some protection against double taxation. However, U.S. sanctions against Venezuela can complicate financial transactions and tax compliance. Americans investing in Venezuela should consult with specialists in both U.S. tax law and OFAC (Office of Foreign Assets Control) regulations to ensure compliance with all requirements.

Practical Tax Considerations

• Currency Valuation Challenges:
  • Official vs. market exchange rates create taxation complexities
  • Historical property values may be difficult to establish in stable currency
  • Documentation of USD transactions is critical for accurate reporting
• Cash Economy Implications:
  • Many transactions occur in cash USD due to banking limitations
  • Maintaining proper documentation of cash transactions is essential
  • Consider using legal mechanisms like notarized payment receipts
• Property Value Assessment:
  • Cadastral values typically far below market value
  • Maintain independent appraisals to document true market value
  • Keep records in both VES and USD for all value assessments
• Compliance Strategies:
  • Engage local tax professionals familiar with foreign investor issues
  • Consider setting up legal structures to optimize tax position
  • Maintain meticulous records of all expenses in original currency
  • Document exchange rates used for all currency conversions

The combination of Venezuela’s economic volatility, currency issues, and evolving tax regulations makes tax compliance particularly challenging. However, with proper planning and professional assistance, foreign investors can navigate these complexities while remaining compliant with both Venezuelan and home country tax requirements.

Expert Tip: For U.S. investors in particular, consider working with a tax professional who specializes in both U.S. international taxation and OFAC compliance. The sanctions situation is fluid, and understanding which transactions are permitted is essential. While personal property ownership is generally permissible, certain transactions with specific entities or individuals may be prohibited. Maintaining detailed documentation of the source of funds used for your investment and all subsequent transactions will be invaluable for demonstrating compliance with both tax authorities and sanctions regulations.

Selecting a Property Manager

Finding reliable property management in Venezuela requires careful vetting:

• Experience with Foreign Clients:
  • Verify experience managing properties for overseas owners
  • Assess understanding of foreign investor concerns and requirements
  • Confirm ability to communicate in your language
  • Check experience handling USD transactions
• Technical Capabilities:
  • Knowledge of infrastructure systems (generators, water systems)
  • Connections with reliable maintenance contractors
  • Understanding of security requirements and systems
  • Ability to handle utility and service interruptions
• Financial Management:
  • Clear procedures for handling cash (common in Venezuela)
  • Transparent accounting and reporting systems
  • Experience with tax compliance for foreign owners
  • Ability to make payments on owner’s behalf
• Communication Systems:
  • Regular reporting protocols (minimum monthly)
  • Multiple contact methods (WhatsApp, email, phone)
  • Prompt response to owner inquiries
  • Emergency notification procedures
• Local Network:
  • Strong connections with local authorities
  • Established relationships with service providers
  • Access to reliable tenant networks
  • Knowledge of neighborhood dynamics

Interview multiple candidates and check references thoroughly, ideally speaking directly with other foreign clients. Due to the challenging environment, personal recommendations from trusted sources are particularly valuable when selecting property management in Venezuela.

Management Agreement Essentials

Your property management contract should address these Venezuela-specific issues:

• Currency Management:
  • Specify which currency will be used for rent collection (typically USD)
  • Define how currency conversions will be handled for local expenses
  • Establish process for documenting exchange rates used
  • Clarify methods for transferring funds internationally
• Infrastructure Management:
  • Detailed responsibilities for managing power generators
  • Water system monitoring and maintenance protocols
  • Internet and communication systems oversight
  • Emergency procedures during infrastructure failures
• Security Protocols:
  • Specific security monitoring responsibilities
  • Visitor management procedures
  • Alarm system monitoring and maintenance
  • Protocols for security incidents
• Financial Reporting:
  • Detailed monthly reporting requirements
  • Documentation standards for all expenses
  • Process for approving expenditures above set threshold
  • Tax documentation and compliance assistance
• Tenant Management:
  • Tenant screening criteria and process
  • Rent collection procedures including handling of cash
  • Maintenance request handling and response times
  • Eviction procedures if necessary
• Legal Protections:
  • Liability limitations and insurance requirements
  • Procedures for handling property documents
  • Contract termination conditions and process
  • Dispute resolution mechanisms

The management agreement should be written in both Spanish and your native language, with provisions specifying which version takes precedence in case of disputes. Have the contract reviewed by a Venezuelan attorney representing your interests before signing.

Expert Tip: Consider using a dual-layer management structure for optimal oversight. Hire a professional property management company for tenant relations, maintenance coordination, and day-to-day operations, but also engage a trusted individual (such as a family connection or recommended professional) to provide independent verification through occasional property visits and reports. This redundancy provides protection against mismanagement and ensures you receive accurate information about your property’s condition and performance. While this approach adds some cost, it significantly reduces the risk of major problems going unaddressed.

Exit Options

Sale Process Considerations

Selling property in Venezuela presents unique challenges:

• Buyer Qualification:
  • Limited pool of qualified buyers with access to hard currency
  • High net worth Venezuelans often the most viable purchasers
  • Some interest from Venezuelan diaspora seeking to maintain presence
  • Occasional corporate or diplomatic buyers for premium properties
  • Thorough vetting of buyer’s financial capability essential
• Marketing Approaches:
  • Traditional real estate advertising has limited effectiveness
  • Network marketing through business and social connections most effective
  • International platforms targeting Venezuelan diaspora can be useful
  • Premium properties may attract interest from diplomatic community
  • Specialized agents with high-end client networks worth premium fees
• Transaction Security:
  • Escrow arrangements with reputable law firms recommended
  • Contract structures that protect seller until full payment received
  • Notarized and registered documents for all payment stages
  • Clear verification of funds origin and transfer capability
  • Staged closing process with appropriate safeguards
• Value Extraction:
  • Currency movement strategies require careful planning
  • Legal mechanisms for international funds transfer
  • Compliance with both Venezuelan and home country regulations
  • Potential for structured payment arrangements across jurisdictions
  • Professional guidance on sanctions compliance (especially for US sellers)

The selling timeline is highly unpredictable in Venezuela. Premium properties in desirable locations with quality infrastructure might sell relatively quickly to the right buyer, while average properties can remain on the market for extended periods. Pricing strategy is critical—unrealistically high prices will prevent interest, but significant discounts may be necessary to attract the limited pool of buyers with access to foreign currency.

Market Exit Timing Considerations

Several factors should influence your exit timing decision:

• Economic Indicators:
  • Relative stabilization of inflation rates
  • Reduced frequency of currency devaluations
  • Improvements in basic infrastructure reliability
  • Increased foreign investment in other sectors
  • Growth in formal economic activity vs. informal economy
• Political Factors:
  • Political transitions or openings that improve economic climate
  • Reduction in international sanctions
  • Improved international relations and diplomatic presence
  • Policy reforms favorable to private property rights
  • Improved security conditions in target neighborhoods
• Market Dynamics:
  • Return of international businesses and expatriate personnel
  • Increased volume of property transactions in premium segments
  • Growth in formal property listings and marketing activity
  • Re-emergence of mortgage financing options
  • Price appreciation in USD terms rather than just bolivar inflation
• Personal Factors:
  • Achievement of your desired holding period (typically 5+ years minimum)
  • Changes in your own investment objectives or financial needs
  • Emergence of more attractive alternative investment opportunities
  • Property management challenges or complications
  • Ability to use proceeds in other investments or personal needs

The Venezuelan real estate market requires a long-term perspective. The most successful investors view properties in Venezuela as multi-generational assets that may experience dramatic value fluctuations but offer potential for substantial returns during economic recovery periods. Having the flexibility to hold properties through market cycles provides the best opportunity to exit during favorable conditions rather than being forced to sell during downturns.

Expert Tip: Consider developing relationships with multinational corporations, embassies, or international organizations with presence in Venezuela. These entities often need quality housing for executives or staff and may be interested in long-term leases or eventual purchase. They typically have the financial capability for USD transactions and value properties with reliable infrastructure and security. Maintaining your property to international standards and marketing it specifically to this segment can create exit opportunities even when the broader market remains challenging. Working with property managers or agents who specifically serve this client base can be invaluable for accessing this market segment.