Venezuelan government looks to seize homes of Venezuelans living abroad: report

Venezuelan leader Nicolás Maduro ordered a census this month to look at how many homes in Venezuela are empty, the Miami Herald reported

TRD MIAMI /
Sep.September 26, 2019 12:30 PM
Venezuelan leader Nicolás Maduro and the city of Caracas (Credit: Wikipedia, iStock)

Venezuelan leader Nicolás Maduro and the city of Caracas (Credit: Wikipedia, iStock)

The Venezuelan government is looking to seize the homes of Venezuelans living abroad as it seeks to capitalize on the four million people who have left the impoverished country.

Venezuelan leader Nicolás Maduro ordered a census this month to look at how many homes in Venezuela are empty, according to the Miami Herald.

In the last two decades, the Venezuelan government has seized billions of dollars in land and other assets of private companies, the Herald reported. Dozens of buildings have already been taken over by groups that support the regime.

There are concerns among Venezuelans that there is a government program called “Locate Your House,” where groups backed by the government are identifying vacant properties.

Earlier this decade, many Venezuelans bought properties in South Florida, especially in Doral and Coral Gables’ Cocoplum neighborhood. Between 2012 and 2015, condo buyers from Venezuela represented roughly 25 percent of Latin American real estate sales in Miami, according to Craig Studnicky, principal and owner of ISG. In February, he said that figure was essentially down to 1 percent.

Some of the country’s top officials have purchased condos and high-end real estate in South Florida, including units at the Porsche Design Tower in Sunny Isles Beach, and multi-million dollar houses in Cocoplum. Some of those assets have been seized by the U.S. government as part of a money laundering investigation.

[Miami Herald] — Keith Larsen


Related Articles

arrow_forward_ios
Rendering of an interior living room and kitchen in a home at the Neovita gated community in Doral

Alta launches sales of second phase of Doral development

Alta launches sales of second phase of Doral development
President Trump, Trump National Doral Miami and Delano South Beach (Credit: SAUL LOEB/AFP via Getty Images and Trump International)

Trump’s Doral golf resort, Delano hotel lay off over 800 employees

Trump’s Doral golf resort, Delano hotel lay off over 800 employees
From left: Eden Roc and BLT Prime Trump National Doral (Credit: Acroterion/Wikipedia, and Trump International Hotels Management LLC)

Trump National Doral restaurant, Eden Roc hotel lay off hundreds

Trump National Doral restaurant, Eden Roc hotel lay off hundreds
Rendering of Doral Square and David Martin

Terra boosts loan for Doral Square retail project by $19M

Terra boosts loan for Doral Square retail project by $19M
11300 Northwest 25 Street and Telefonica CEO José María Álvarez-Pallete López (Credit: Google Maps) 

Telefonica sold its Doral data center for $44M

Telefonica sold its Doral data center for $44M
Doral Commons, Adam H. Klein, and Douglas K. Mandel

Former Shoma headquarters goes for $13M

Former Shoma headquarters goes for $13M
From left: MiamiCentral, 800 Brickell, Offices at Doral Square

Here are South Florida’s largest office sales of 2019

Here are South Florida’s largest office sales of 2019
Rendering of Doral Square and David Martin

Terra unveils latest mixed-use project near Downtown Doral

Terra unveils latest mixed-use project near Downtown Doral
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...