Silent exodus: More and more Venezuelans are leaving Doral, affecting the real estate market
The vacancy rate for apartments in the municipalities surrounding Doral is 4.3%. In contrast, in the city this figure has risen to 6.5%, after having been at 5.6% at the end of last year. In some buildings in the city, the level of unemployment is even higher, exceeding 10% in some cases.
Venezuelans during a demonstration in Doral.
More and more Venezuelans are leaving Doral. Many immigrants from Venezuela have decided to look for other options to emigrate due to immigration policies pushed by President Donald Trump.
A report by The Wall Street Journal reported that Doral is one of the places where the effects of the immigration policy change are being strongly felt. Approximately 40% of its 80,000 residents were born in Venezuela or are of Venezuelan descent.
Many Venezuelans have lived there for decades, obtaining U.S. citizenship and having U.S. born children. While there are others, who arrived in recent years, who established their lives in the country thanks to temporary government programs.
Due to President Trump's efforts to end several of these programs, many Venezuelans are leaving for other places.
The flight could be showing up in the data. According to The Wall Street Journal, the apartment vacancy rate in the municipalities surrounding Doral is 4.3%. In contrast, in Doral this figure has risen to 6.5%, after having been at 5.6% at the end of last year. In some buildings in the city, the vacancy level is even higher, exceeding 10% in certain cases.
Real estate agents attribute this data to the fact that many Venezuelans are moving elsewhere. In addition, rents in Doral have dropped to their lowest rate in the past three years.
"They’re all telling me, ‘No, I can’t stay, my [temporary status] is expiring'," explained Maria Eugenia Nucete, a Venezuelan-American real estate agent who has worked in Doral for decades.
Nucete also said that in March, she lost a Venezuelan tenant who moved to Italy.
For her part, the mayor of Doral, Christi Fraga, indicated that the situation is a reflection of a mix of factors. However, he acknowledged that Venezuelans leaving the city for fear of being detained by federal agents are part of it:
"I do personally know of some families that have self-deported. Their status was unsure and they didn’t want to be here illegally (...) I’m sure it will affect the housing market to a certain extent," Fraga said.
Spain, Italy or...Venezuela, among the options
LATEST
