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2 clusters · 10 sources · 19 days · First seen · Last updated

Venezuela housing and rental market regulation

Overview

Venezuela has introduced new legislative frameworks to regulate its housing and rental markets. Initially, the National Assembly approved the Law on the Special Regime for Housing Leases to assist families displaced by earthquakes in June. This legislation aimed to protect tenants and landlords by limiting eviction orders to municipal courts or arbitration tribunals and providing mediation options. Following this, the Special Regime Law for Residential Leaseholds was published in the Official Gazette. The regulations specify that rent amounts are determined by mutual agreement, allowing for payments in bolívares based on the daily Central Bank of Venezuela exchange rate for foreign currency contracts. For contracts in national currency, rent increases are capped by the Consumer Price Index. The law also defines responsibilities for repairs and limits security deposits to a maximum of three months' rent. In a recent development, the National Assembly approved the Law for the Promotion and Protection of Housing Construction, which replaces the previous Law Against Real Estate Fraud. This 40-article reform aims to facilitate faster housing access and provide legal security for builders and buyers. Key provisions include the mandatory creation of trusts by construction companies, required detailed execution schedules in contracts, and the establishment of a unique public registry for promoters and builders under the oversight of the Ministry of Housing and Habitat. The law introduces severe penalties for non-compliance, with fines ranging from 300 to 54,000 times the value of the country’s highest-valued currency. Acting President Delcy Rodríguez has now signed this law into effect to accelerate construction following the June 24 double earthquake, which caused over 6,500 deaths and left approximately 17,900 people homeless. Government inspections have identified 11,000 high-risk buildings out of 61,000 inspected.

Entities

National Assembly of Venezuela · Jorge Rodríguez · Delcy Rodríguez · Venezuelan government · Fernando Di Geronimo

Claims

What the coverage asserts, and how many sources carry each claim.

Timeline

  1. 8 days ago

    [POLITICS] 10 sources
    Venezuela National Assembly approves new housing construction law

    Venezuela's National Assembly approved a new housing construction law to aid reconstruction after recent earthquakes. The law mandates company trusts, strict schedules, and heavy fines for non-compliance.

  2. 26 days ago

    [POLITICS] 15 sources
    Venezuela enacts special housing rental law to aid quake‑displaced families

    Venezuela's parliament passed a 27‑article rental law and began a housing relief program, delivering 87 homes and targeting 4,000 more, with subsidies and a goal to add 400,000 rental units.

Sources

2001online.com · elnuevodiario.com.do · entornointeligente.com · espiganoticias.net · kajgana.com · lapatilla.com · monitoreamos.com · notiapure.com.ve · nuevaprensa.web.ve · prensa-latina.cu

This summary has been updated 3 times: see revision history