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).
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.
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.
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.