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Venezuela Q4 Report

VenezuelaCommercial Real Estate Services, Worldwide

Venezuela Q4 Report

Venezuela gets into the world radar because its political and economic issues, Real Estate business changes dramatically in terms of price due to our currency devaluation, and due to middle class citizens trying to sell properties.

Huge opportunity to make business with multinational companies that have big cash-flow in Bolivar currency. As the government maintains the exchange control these companies cannot repatriate their profits.

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Outlook:

Type of study: Market Offer Statistical analysis Location: Caracas Metropolitan Area Period: October - November - December, 2014Analyzed variables: Areas,m2, Unit Prices $ / m2Market Segments: Home, Office and Commercial.Source: El Universal, Tuinmueble.com , Conlallave.com, 123 properties.Source: Metropolitan Real Estate Chamber

A sample of 3,628 public offering advertisements were consulted between sales and leasings. 19% of total properties being offered for sale are offices.

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Public offering distribution

Public offer for sale

Venezuela Q4 Report

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Q4 commercial property offers shows that Libertador has greater supply (44%), followed by Baruta to 21%.

Commercial properties for sale offered in Metropolitan Area of Caracas, decreased to an average of 254 m2 from 218 m2 . Higher averages are in the Libertador County with 299 m2, Libertador remains very close to the average (225m2), while El Hatillo registered commercial space for sale with lower surfaces (86m2) .

Commercial size in M2 by county average

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Venezuela Q4 ReportCommercial Outlook:

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The overall commercial property unit price average in Caracas is 2.030 $/m2, 31% up the value from previous quarter (1.154 $/m2). However, Chacao, Baruta and El Hatillo counties offer commercial spaces for sale with unit prices above this value, Libertador and Sucre counties under it.

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Venezuela Q4 ReportCommercial Outlook:

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Commercial size in M2 by county average

Average unit prices in commercial properties had an increase of 37 %(from 1.126 $/m2 to 2.367 $/m2); however, in December, 2014, the greatest U.P. (unit price) was in Chuao, Baruta (5.581 $/m2), while the lowest U.P. was in San Martín (Libertador county)(339 $/m2).

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Venezuela Q4 ReportCommercial Outlook:

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Monthly increase average priceof commercial property $/M2

Distribution of public offer for sale by counties presents a greater supply at Libertador county (32%),followed by Chacao county with 25%.

Average office area offered for sale in Caracas increased from 169 m2 to 180 m2. However, the county of Chacao (261m2) exceeds the overall area offered, Baruta (160m2) and Sucre (170m2) remain close to the average, while Libertador and El Hatillo, offering average office areas are 148 m2 and 95 m2

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Office average offer by county

Office average size in M2 by county

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Venezuela Q4 ReportOffice Outlook.

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The overall average unit price is 1.503 $/m2. 20% above the previous quarter value (1.251 $/m2). However, Baruta, Chacao and El Hatillo counties have unit prices above this value, Libertador and Sucre counties under it, the same behavior as the previous quarter .

Office average unit price for sale by counties are:

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Office average price in M2 by county

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Venezuela Q4 ReportOffice Outlook.

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Sales office average U.P. of public offering have increased 53% (from 1.266 $/m2 to 1.934 $/m2). The largest U.P. is in Los Palos Grandes, Chacao County (5.780 $/m2), while the lowest offer for sale is verified in Maripérez (Libertador County)( 255 $/m2).

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Monthly increase of average price $/M2

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Venezuela Q4 ReportOffice Outlook.

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Price Variation M2 /$

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