Property buyers in Latin America under threat?

Could the left's victories in recent Latin AmericanMorales nor Correa are as extreme as Chavez, notes
elections pose a serious threat to foreign propertya new report out this week (see published by the
buyers?Global Property Guide.
President Hugo Chavez in Venezuela openly toleratesProperty markets in many Latin American countries
property rights violations. In Altos Mirandinos, 683are doing well. Except in Venezuela, the newly elected
'property invasions' were recorded in 2005 in whichsocialist governments seem relatively benign, and
houses were simply seized by squatters.unlikely to pose much of a threat to property investors.
Evo Morales, Bolivia's first indigenous president, andSome countries are even seeing real estate booms.
Ecuador's Rafael Correa, have both expressed strongNicaragua, Argentina and Uruguay offer high yields and
admiration for Chavez, who has promised togood location, at significantly lower prices than in
transform Venezuela from a capitalist to a socialistdeveloped countries.
state."The political pendulum swings one way, then it swings
With the re-election of Chavez and Lula da Silva inanother," says Matthew Pollock, publisher of the Global
Brazil, and the victories of Correa in Ecuador and EvoProperty Guide. "These leftist victories are temporary.
Morales in Bolivia, Latin America has moved firmly toWhen President Bush, goes the world will breathe
the left.easier, and tensions will ease everywhere."
Other leftist presidents include Michelle Bachelet (Chile),"The outlook for residential property in Latin America
Alan Garcia (Peru), Daniel Ortega (Nicaragua), Nestorremains very positive, especially as Latin America
Kirchner (Argentina), Tabaré Vázquezincreasingly obtains access to US markets, and as the
(Uruguay).circle of countries in which US retirees are willing to
Yet despite the sweeping victories of the left, neithersettle widens.