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).
KENYA The clue to the murder of the deputy chief of mission at the Embassy of Venezuela in Kenya, Olga Fonseca, may be hidden in the basement of the Venezuelan Ministry of Foreign Affairs (MRE), according to Héctor Griffin, an attorney determined to get to the bottom of this matter.