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IPFS News Link • Economy - International

Venezuela Bans Evictions, Delinquencies Soar 99%, Impossible to Get New Lease

• MIKE SHEDLOCK

Mish-modified translation from Libre Mercado ... 

 Renting an apartment in Venezuela is impossible mission. Supply is tight and prices exorbitant, quite inaccessible to the vast majority of the population thanks to the 2011 Law Against Eviction and Arbitrary Unemployment. 

Venezuela made numerous mistakes over the years, with each mistake reduced the supply of rental units.

A rent freeze in 2003, led to a 25% decline of rental units. 

An expropriation ordinance in 2006 caused an extra drop of 51% of rental units.

Rental restrictions applied between 2007 and 2008 caused a similar contraction.

The 2011 law led to the virtual disappearance of housing for rent.


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