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Tuesday, February 20, 2007
Special Reports
Venezuela: High Real Estate Demand
Venezuela's real estate market has not seen a drop in demand despite expropriations and investor-hostile policies.
Caracas is seeing increased demand both in commercial and residential properties. Shopping malls like El Tolon (top) and Sambil are seeing a consumer boom. (Photos: Tamanaco Hotel)
BY CHRONICLE STAFF
Oswaldo LaFranconi, managing partner for real estate company NAI Ferca, is optimistic. Despite several expropriations of property the last few years - and indications that more will follow soon - LaFranconi is busy keeping up with demand for both commercial and residential real estate in Venezuela.
"There's alot of demand for office space," he says.
Among his most recent deals: finding office space for a Chinese telecom company.
Although the policies of President Hugo Chavez may have scared off certain types of investors, especially from the United States, Caracas is seeing a wave of new investments from other countries such as China.
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