Wednesday, October 1st, 2014

Caracas Real Estate

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Caracas Real EstateCaracas is the capital of Venezuela and is located on the Caribbean Sea in South America.  This popular city includes the metropolitan areas of Distrito Capital (which translates to The Capital City proper), along with the municipalities of Chacao, Baruta, Sucre, & El Hatillo in Miranda State.  This city features a home population of just under 5 million persons.  Largely due to its tremendous popularity and growth, the cost of living in Caracas is quite expensive relative to many other urban areas.  As a point of reference, a 2009 United Nations survey concluded that Caracas’ cost of living was 89% higher than New York City.

The Caracas real estate market appeals to many expatriates (expats) considering making a purchase in South America.  This vibrant city has a robust retail and restaurant scene that rivals many of the largest urban areas in the world.  Its this exciting atmosphere along with close proximity to the Caribbean that continues to make the Caracas real estate market increasingly desirable.

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Many expats begin their Caracas homes search by living in an apartment until they identify the areas in which they would like to live. Some of the more popular areas includes Gran Caracas real estate in El Silencio, Parque Central, Altamira, Chacao and El Hatillo.

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