Bolivia Real Estate

The Republic of Bolivia stands among the struggling countries in South America. Challenged by its neighboring states of Brazil, Paraguay, Argentina, Peru and Chile, this nation continuously exhibits persistence given their history of colonialism and their pressing concerns of corruption and imperialist control.

Formerly called the "Upper Peru", Bolivia was a colony of Spain. In 1809, it gained its independence and set off to self rule. The first two decades proved to be difficult for the Bolivians. The country is blessed with rich natural resources including their loaded deposits of gold and silver. Bolivia is also known for being the second largest producer of natural gas in South America. The country also has a large deposit of iron and magnesium, providing about seventy percent of the total yield of theses minerals in the world. However, Bolivia has been shortchanged in gaining profit for their resources since a significant volume of these have been drained by their former colonizers. In 1980, the country employed a democratic rule which was not initially successful in alleviating the country's fiscal condition. Entering the twenty first century, notably upon the election of the country's first indigenous Inca president, Evo Morales, Bolivia has grounded itself starting with the stabilization of fiscal and agrarian reforms.

The economy of Bolivia is among the least liberal in South America, and in the world for that matter. With their government imposing low income and corporate tax, the prices of commodities are generally unstable. The country's primary income source since the 80s is its mining industry. The government exerts evident power over the rate of utility charges and the entry of foreign investment. Bolivia shows an immense potential in service-oriented industries, manufacturing as well as real estate. Foreign investment is however hindered by the internal problems of the state such as corruption. Ideally, acquiring a property in Bolivia, by both locals and foreigners, is convenient if not for the palpable bureaucratic intrusions that financial transactions are often subjected to.

Property rights in the country are rather poor as legal security of properties including real estate is colored by political agenda and a generally weak system. Nonetheless, real estate firms, even multi-national ones continue to expand the market for Bolivian properties.

Bolivia is among the exotic locations in South America, with its generous view of the Andes mountain range, its vibrant Latin American culture, and its peaceful communities. The native Incas are found across the country such as in area near Lake Titicaca, which is one of the tourist sites in Bolivia. Real estate purchasing in Bolivia is done usually as mortgage or loan. The country's property market banks on the apartments in the capital city of La Paz, and on the magnificent highland properties that overlook the snow-covered summits of the Andes and the blossoming panorama of the distant rainforest.

The country also lures more people to invest in commercial or resident real estates with its favorable climate and lavish natural landscape. The cost of living in Bolivia as well as the prices of properties is ranged to be among the most affordable in South, Central and North America. The prices of residential properties in the La Paz, Cochamba and Santa Cruz have been steady in the last decade, only interrupted by an unfavorable economic decline in the year 2000. e Bolivia is suitable for those who seek for a peaceful retreat and for some cultural glimpse of the country's interesting indigenous culture and colonial past, it can also appeal to those who prefer an occasional night life. Furthermore, crime rate in Bolivia is low making it more convenient to real estate investors.