ESPACIO PUBLICITARIO
CARACAS, Monday May 08, 2006 | Update
 
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Real estate prices in Caracas up 17 percent
  NUEVOMEDIA
Monday May 08, 2006  11:37 AM

The low supply of houses in Venezuela continues to push up the prices, while low social interest rates on loans and government direct subsidies are encouraging an unmet demand.

During the first quarter, real estate prices in the Caracas Metropolitan area remained on the high. Preliminary figures disclosed by market research firm Organización Akros show that in the first three months prices jumped some 9.42-17 percent.

The increase in the Baruta municipality was 17 percent; in Libertador municipality, 13.85 percent; in Sucre municipality, 13.34 percent and 9.42 percent in Chacao. El Hatillo municipality was the only area where prices decreased -with a fall of 2.04 percent.

Based on such increase, the price per square meter ranges from VEB 1.18 million (USD 550) to VEB 2.6 million (USD 1,200). At the end of 2005, prices were at VEB 1.03 million (USD 480) and VEB 2.46 million (USD 1,145).

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US Sanctions


Maduro rejects sanctions against Venezuelan officials

US SANCTIONS Venezuelan President Nicolás Maduro rebutted on his Twitter account US President Barack Obama's decision to sign into law a bill imposing sanctions on Venezuelan officials for human right abuses. Maduro remarked that Obama has made "a false move" against Venezuela.

Obama okays sanctions against Venezuelan government officers

US SANCTIONS US President Barack Obama enacted on Thursday a law aimed at imposing sanctions on Venezuelan government officers accused of violating human rights, the White House reported.

"We have tried to improve relations with Obama, but have been rebuffed"

GOVERNMENT In an article published in the New York Times, entitled "Hectoring Venezuela on Human Rights," Venezuelan Congress Speaker Diosdado Cabello stated that the Venezuelan government was willing to improve its relation with the United States.

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