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A Guide to the Bolivia Property Market 13-Jul-2017

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 Are you looking for a way to sell your property in Bolivia online? Bolivia is a landlocked country, has no beaches and is different from other South American countries such as Brazil. It is also a poor country, which generally attracts the backpacking crowd of tourists. However, not too many.

As Rick Jackson, an American who has a real estate business in Bolivia says, "Not a lot of people from the U.S. visit Bolivia unless they have relatives or friends there. There are some backpackers, who are mostly from Europe, but they spend very little money."

That’s largely true. Bolivia does not attract the sort of tourists who go to Spain or Portugal for a beach holiday. It gets backpackers who are naturally adventurous, and want to explore the world.

The fact is Bolivia is a breathtakingly beautiful country. Its capital La Paz is situated at 12,000 feet above the seas level. Most of the foreign investors, who buy property in Bolivia online, are attracted to La Paz.

La Paz is situated the Andes Mountains just across the Choqueyapu River and has stunning scenery. The Andes Mountains runs through Bolivia. Here you will find the Lake Titicaca – which is the highest commercially used lake in the world.

The people of Bolivia are really wonderful. They are incredibly friendly and always eager to help out foreign tourists. As Mr. Jackson says, "you will get tired of everybody being nice to you. The food is great. They have wonderful domestic beers and wines." Plus, the cost of living is really low here. "Everything is about 70 percent less than the U.S.," says Mr. Jackson.  You could have a high quality life here in Bolivia at a fraction of what it would cost in Europe.

 However, it is fact that Bolivia is a developing country and has a GDP of only $17 billion. Agriculture is very important to Bolivia – it is the biggest employer and generates most of the revenue. Brazil is Bolivia’s biggest trading partner. Unfortunately, 60 percent of the population here fall below the poverty line.

 What about the real estate scenario in Bolivia? Bolivia’s property market is still in its nascent stages of development because the government does not encourage foreign investment in local real estate. The Bolivian President Evo Morales is a socialist who does not really respect private property rights and has a policy of encouraging equal distribution of wealth, including residential and commercial property.

One could argue that this is because 90 percent of the land here is owned by less than 10 percent of the population.  Heinz W. Zintzmeyer, who heads a real estate company that invests in Bolivia says that this should not put off foreign investors from Bolivia.

"Large farms are almost impossible to buy and sell because of the new government restrictions. The new regulations don’t generally affect properties below 5000 hectares [about 12,000 acres] and business buildings," Mr. Zintzmeyer said.

Mr. Jackson explains how foreign investors are buying properties in Bolivia: "Foreigners have no problem in owning real estate in their own name. There are no special rules. He adds, “The real estate market is doing well in the lower price range of below USD 50,000 for a nice house or condominium. Since financing is not available to foreigners and most residents, cash is the normal way to make purchases."