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

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
Midtown Doral scores $67M construction loan for apartment development
Midtown Doral scores $67M construction loan for apartment development
Midtown Doral scores $67M construction loan for apartment development
Céntrico by Windsor at 8425 Northwest 41st Street in Doral with GID President and CEO Gregory Bates and Chairman W. Gardner Wallace (Google Maps, GID)
GID buys Downtown Doral apartment building for $150M
GID buys Downtown Doral apartment building for $150M
Lennar's Stuart Miller (Lennar, Gogle Maps, iStock)
Lennar sells Landmark at Doral clubhouse to homeowners association for $16M
Lennar sells Landmark at Doral clubhouse to homeowners association for $16M
Seagis with 8305 Northwest 27th Street (iStock, Seagis Property Group)
Seagis buys industrial dev site in Doral for $16M
Seagis buys industrial dev site in Doral for $16M
From left: Al Goldstein, co-founder and executive chairman, Avant; Anna Fridman, founder, Spring Labs (Avant, Spring Labs, Compass)
Fintech moguls Al Goldstein, Anna Fridman buy Del Toro Insurance honchos’ Cocoplum house
Fintech moguls Al Goldstein, Anna Fridman buy Del Toro Insurance honchos’ Cocoplum house
The Doral home with Alfred Nickson (ONE Sotheby's International Realty, Instagram via Alfred E. Nickson)
Doral mansion sells for record price of $4.4M
Doral mansion sells for record price of $4.4M
The retail property at 5875 Northwest 105th Court in Doral (Google Maps)
Dallas firm picks up Aldi-anchored retail property in Doral for $22M
Dallas firm picks up Aldi-anchored retail property in Doral for $22M
Seagis picks up Doral industrial properties for $29M
Seagis picks up Doral industrial properties for $29M
Seagis picks up Doral industrial properties for $29M
arrow_forward_ios

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

Loading...