The capture of Nicolas Maduro and rumors about a possible opening to oil investment have begun to move pieces in the Venezuelan economy, even before there is a clear structural change.
one of The first visible effects are seen in the real estate marketwhere housing prices have begun to rise in anticipation of a change in political direction.
Brokers and analysts point out that interest has increased, especially among Venezuelans abroad who are considering investing or returning. The increase in prices of apartments for sale is stipulated between 20% and 50%, an increase that has occurred both in tourist areas and in small rural towns.
However, they warn that enthusiasm seems to be getting ahead of realitysince real estate experts believe that owners are increasing prices in anticipation of a wave of purchases, in a weakened economy, with low purchasing power and scarce financing.
The president of the United States, Donald Trumphas recently assured that he will make a visit “soon” to Venezuela, to meet with the president in charge of Venezuela, Delcy Rodriguezthe last link of a wounded Chavismo.
Regarding the political situation in the South American country, Trump himself has confirmed that for the Trump Administration, Rodríguez is the president in fact in n Venezuela and its only direct interlocutor.
“Yes, we have recognized her as president. We are dealing with them and really at this moment with Rodríguez at the helm, they have done a great job,” he stressed.
However, the political future of the Caribbean country is a large-scale unknown, due to the situation of political instability after the arrest of Nicolás Maduro, with an opposition demanding that elections be held to end the dictatorship.
Opportunity for emigrants
In this situation of uncertainty, as Venezuelan citizens who have left the country consider returning, housing prices have seen a significant rebound since the US attacks on January 3 in Caracas, which led to the arrest of Maduro.
Maduro’s departure from power led some Venezuelan citizens to consider returning and establishing contact with real estate agencies, with the idea of acquiring a home “before prices began to rise,” according to a worker in the sector. The New York Times.
It is stage has become a great opportunity for Venezuelan emigrants who left the country due to the authoritarian and dictatorial policy of the regime, and who now look forward to the possibility of returning and purchasing a home, in most cases with the money saved during their stay abroad.
Carlos Penalvera young 26-year-old Venezuelan electrician who went to the United States, has stated in statements reported by the New York newspaper that, after the capture of the former Venezuelan president, he began calling different real estate agencies to ask about availability.
In his case, he claims that he was fortunate and managed to acquire a three-bedroom apartment in the port city of Puerto Ordaz, in the southeast of Venezuela, on the banks of the Caroní River, before the owners raised the prices.
In any case, it is still early to determine whether a stage of freedom will open for the post-Maduro population in the South American country, marked by years of authoritarianism, economic collapse and mass migration.
Expectations of change
Asdrubal Oliverosa veteran Venezuelan economist, has assured that “what is at stake is the expectation of change”, a hope that the people of Venezuela hope will arrive as soon as possible in the form of the democratic mandate that comes from the polls.
This expectation that a real change will occur in the country, added to the interest of many Venezuelans abroad, has led to an increase in prices, according to some real estate broker workers, with an increase which ranges between 20% and up to 50%, in some areas.
Since 2019, The economic crisis suffered by Venezuela affected the real estate market to a greater extent. In fact, at that time the drop in housing prices meant that some people were able to buy in wealthy areas of the city.
In this context, the Real estate rebound reflects more of a bet on the future than a consolidated recovery. The market is driven by political and energy expectations, but still faces the same structural challenges that have marked the country in recent years.
In fact, according to professionals in the housing sector, the lack of liquidity that the majority of the Venezuelan population has, the low salaries and the increase in prices, has reduced the market, almost exclusively, for returnees considering a return.
An example of this is the testimony collected New York Timesof Luisa Rojasan administration worker in the city of Valencia, who stated that although she would like to move from her old apartment to a new one, she cannot afford this change financially.
In parallel, according to the agents, lower priced homes have practically disappearedas sellers take their properties off the market, awaiting a market correction.
Regarding the price increase, for the real estate brokerage, Diogelis Pocaterrahas assured that there has been an increase “between 20 and 50% solely due to Maduro’s arrest.”
In any case, he recommends that owners “keep calm” and not get carried away by euphoria. “This moment is not giving rise to these exaggerated increases, that’s how I try to make my clients see it,” he reasons.