Language(s): Spanish (Official)
Area: 916,445 km2
Population: 27,150,095 (2011)
GDP (PPP): 2011 estimate
Total: $374.111 billion
Per capita: $12,568
Venezuela is famous for its beauty—and not only that of its beauty queens. This South American country also possesses a stunning landscape of Amazonian rain forests, rolling plains, flat-topped mountains and Andean peaks. The country faces sparkling blue green seas, and has the world's highest waterfall and the continent's largest lake. Its closeness to the Equator allows for two distinct seasons, wet and dry, with higher-level areas enjoying a cooler climate. Venezuela has the longest stretch of Caribbean coastline found in one country. The beaches jump and jive to lively Caribbean beats, but deeper into its heart, the country is truly South American and displays an immense wealth of natural wonders and vestiges of cultural inheritances.
Nevertheless, Venezuela has the potential to achieve great sustainable development in the economic realm. The country is one of the world's top oil producers, which accounts for the affluence of many locals.
The capital city, Caracas, is a modern metropolis at the foot of the Ávila range. It is a glass-and-concrete jumble of skyscrapers and low-rise buildings and not without American influence on its culture. The city is loud, cramped and, in some areas, considered dangerous even during the daytime. There is a huge disparity in wealth among its 4 million residents. Nonetheless, the Caraqueños are known for their hospitality and good nature. Life is celebrated through festivals, shopping, all-night partying, and food. Caracas is considered Latin America's gastronomic capital.
Because of the acute shortage of quality housing, yields for apartments in Caracas are around 10% to 14%. Houses can fetch higher yields, up to 15.2% for a 350 sq. m. property.
Rental yields for houses in provinces that are popular for tourists and foreigners can reach up to 20%. These provinces are Macaraibo, Maracay, and Barquisemento. The most expensive properties can be found in Margarita Island, along the Caribbean, a 100 sq. m. property would cost around US$350,00 while a same sized house in Caracas would only cost US$95,000.