Monagas Real Estate Market Registers Price Increases of up to 50% and Increased Demand
Data from the Monagas Real Estate Chamber indicates that, so far this year, demand for properties has increased in the entity, with a rise of up to 50% in sale prices and up to 15% in rental prices. The president of the guild, Mary Piña, indicated that [...]
TL;DR
- Demand for properties in Monagas has increased this year.
- Sale prices have risen by up to 50% and rental prices by up to 15%.
- A 75% paralysis exists in the sector due to owners not selling their properties.
- The decrease in available properties is impacting real estate agents' portfolios.
- Increased demand is primarily from Venezuelans abroad who wish to return.
- Current sale prices are considered a revaluation to real value, not historical overvaluation.
- Despite recent increases, sale prices have not yet reached their historical real value due to depreciation since 2010.