“The market is moving, and those who lived in the hardest-hit areas in the east and west are now seeking to settle in central areas such as Maiquetía,” explained María Teresa Brito, president of the La Guaira Real Estate Chamber. Pablo González, president of the Venezuelan Real Estate Chamber, criticized speculation and called for responsibility.
By Vanessa Davies
An apartment in Macuto for $48,000 in cash. An apartment in La Llanada for $59,000. A house in Palmar Este for $220,000. An industrial warehouse in Montesano with an asking price of $700,000 in September, which dropped to $550,000 in October. Real estate prices in La Guaira have skyrocketed, and industry representatives are urging people to act responsibly.
“The decline in supply and the increase in demand, both resulting from the earthquakes, should not be viewed as a business opportunity,” stressed Pablo González, president of the Venezuelan Real Estate Chamber. “We have 17,000 people, many of whom not only lost their main asset, their homes, but also lost their belongings and businesses.”
Residents of La Guaira are seeking to relocate following the earthquakes, looking for properties to rent or purchase, said María Teresa Brito, president of the La Guaira Real Estate Chamber. “The market is moving, and those who lived in the hardest-hit areas in the east and west are now seeking to settle in central areas such as Maiquetía.”
A call for social responsibility
For the chamber, González emphasized, “It is absolutely incongruous that, in the face of this situation, speculation has emerged that bears no relation to Venezuela’s reality.” And what is Venezuela’s reality? “Venezuelans’ purchasing power has not increased, we do not have long-term financing, and consequently, there should be no factors driving prices higher.”
“I invite everyone to understand that this is a crucial moment for solidarity to manifest itself not only through intentions but also through conscious and free actions. Freedom can only be built through awareness. If you have the freedom to grab a gun and go out killing people, that cannot be called freedom. And that is what prices, by analogy, may be reflecting at this moment. From the Real Estate Chamber, we call for deep reflection on what is happening.”
An attractive territory
La Guaira will always remain an attractive territory, the chamber president asserted. “In our view, La Guaira’s coastline is currently the most attractive area in the Caribbean for tourism development. If the right conditions existed, with incentives or openness to capital investment, we would undoubtedly have tremendous opportunities for the people of La Guaira and all Venezuelans. But I must responsibly call for domestic investment because this must be built by Venezuelans, for Venezuelans, and with Venezuelans,” González explained during the forum La Guaira in Recovery: Credit as an Engine for Reconstruction, held on October 15.
What collapsed, he emphasized, “holds immeasurable value for its owners, value for the reconstruction of La Guaira, and value for investors,” but attracting investment remains essential.
