| With the reelection of Venezuela’s Hugo | | | | American countries are nevertheless doing well, |
| Chavez and Brazil’s Lula da Silva and the | | | | despite the sweeping gains by the left. Except in |
| victories of Rafael Correa in Ecuador and Evo | | | | Venezuela the newly elected socialist governments |
| Morales in Bolivia, Latin America has moved firmly to | | | | seem relatively benign, and unlikely to pose much of a |
| the left. | | | | threat to property investors. |
| Other leftist presidents include Michelle Bachelet (Chile), | | | | Some of the markets are even seeing real estate |
| Alan Garcia (Peru), Daniel Ortega (Nicaragua), Nestor | | | | booms and recoveries. Nicaragua, Argentina and |
| Kirchner (Argentina), Tabaré Vázquez | | | | Uruguay are offering high yields and good location at |
| (Uruguay). | | | | significantly lower prices. |
| Some of these leaders openly admire the extremist | | | | The real issues which deter foreign investment and |
| rhetoric and gestures of Hugo Chavez, who has | | | | property market growth are civil wars, high crime |
| promised to transform Venezuela from a capitalist to | | | | rates, and social unrest. As Latin America increasingly |
| a socialist state. Chavez’ government openly | | | | obtains access to US markets, and as the circle of |
| tolerated violation of property rights to address a | | | | countries in which US retirees are willing to settle |
| housing crisis he has partially created. | | | | widens, the outlook for residential property in Latin |
| In a new report out this week, the Global Property | | | | America remains positive. |
| Guide notes that property markets in many Latin | | | | |