Caracas
Caracas is the capital city of and the largest town in Venezuela. The town is located in the Northern region of the country along the narrow contours of the Caracas valley. The suitable locations for settlement in the city fall between 760 and 910 meters above the sea level. The valley s located close to the Caribbean Sea. The sea and the valley are segregated by a mountain range standing at 2200 m.
The main settlement areas in Caracas are located in Chacao, El Hatilo, Miranda state and Sucre. Te Distrito Capital is also a major settlement region in city. It has a population of 2,097,350 as per the results released in 2009. The Distrito Metropolitana was estimated to have a population of 3,196,514 as of year 2008. The population growth in the city is growing at an increasingly fast speed.
Cost of living
The cost of living in Caracas is high especially as a result of the inflation. This has led to increased cost of housing and food. The effects of the increased cost of living are especially more pronounced in the Distrito capital then in the metropolitan region.
Real estate status
The population in Caracas is fast developing. The value of property in Caracas is determined by where you will purchase it. The unequal wealth distribution in the country is amazing. Property in the west of the city in the region called `barrios’ is cheaper. This is a region that is characterized by poor people hence there is minimal development on the land and standard of life in general.
The cost of housing is highest in the region referred to as the `El Rosal’ or the contemporary central business district. This region is characterized by people with stable income and demand for housing. Returns of the investment are attractive.
The average cost of property is also high in the eastern region. This area is characterized by the cream of creation. Modern housing and infrastructure have led to increased value of property in these regions.
Foreigner’s investment tips
The property in Caracas can be sold even to non-locals. Nonetheless, foreigners are better informed that the city remains among the most volatile cities in the world. There are some no go zones for foreigners. A murder count of above 20 people in a single weekend is not history. Conducting comprehensive investigation regarding the security of the area you want to move to would be a smart move.
Local News
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- retrieved via Google News