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