Carlos Alberto Gonzalez, President of Real Estate Chamber of Venezuela -CIV- said that both the public and private sectors have not escaped the impact of inflation. "The property prices have increased dramatically mainly as a result of inflation, but also by the pernicious effect of the shortage"
He said that due to inflation, a person earning minimum wage (7.421 Bs F a month) in Venezuela has to save 166 years to cover the cost of housing 15 million bolivars. "Compared with other countries that figure is reduced to 20 years. It is a problem of general impoverishment of the population and we (the real estate chamber) can not solve ".
Gonzalez said to Union Radio that another problem is that there is no funding for the middle -class citizens. And if that was not enough there is also a price control that prevents developing new projects. " All of the above results in shortages and people who work in the secondary market, who have a home and want to sell it is who says how much a house does cost."
The President of Real State Chamber of Venezuela said that this organization has always been opposed to the trend that has emerged in the market to sell the properties in dollars. However, he explained that people want to protect its family heritage and want the value of their home fits prices market.
He explained that a reference to the costs of the property market is the price of the dollar, and it has tripled its value during last months in what is called black market..
Venezuela: no house, no car, no shoes, nothing
But Venezuelans could not afford a house is just a piece of Venezuela's economic distortion. A Venezuelan needs just over 7 months to gather the money to replace a pair of sports shoes. In other countries a worker who receives minimum wage need not invest your entire paycheck to a new pair of shoes, for example in Chile, the cost of sports shoes equates to almost 7 working days, while in Peru or Argentina cost about 10 days of service.
If you want to change your cell phone or your work requires you to use new technology or that cell phone that you had broken down you must collect your income for more than six years to buy a smartphone.
It is disappointing to note that a Chilean or Peruvian can purchase a cell phone in two months while an Argentine could have it in three months.
But if your need is transport, the situation is even more complicated. The cost of a new vehicle in the country is equivalent to nearly 50 years collecting every two weeks. That is, you can buy a new car when you're already taking a pension through Social Security (Venezuelan men should be 60 years old and women 55) and that vehicle would already be obsolete. The reality in other Latin American countries is different: In Argentina you need to pay only a year and 7 months of service to buy an Optra, nearly three years in Peru and in Colombia just over three years. #News