ESPACIO PUBLICITARIO
CARACAS, Wednesday November 21, 2012 | Update
 
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HOUSING | The resolution was posted on the Official Gazette

Gov't sets the value per square meter for house rental

Pursuant to the rule, if a tenant ultimately buys a property under the calculation method attached to the rented house, then the tenant should act likewise based on the same methods

EL UNIVERSAL
Wednesday November 21, 2012  01:58 PM
A new method to estimate the replacement value of real estate has been made formal on Wednesday. Therefore, from now on, it will be possible to set the value of dwellings for rental.

The resolution that sets the value of construction (Bs / M2) according to the type of rented house was published in the Official Gazette No. 40054. The formula will be used "to calculate the fair value set forth in the Law on Regulation and Control of House Rental."

The rule involves the inspection of property.

A check table to set the value of the construction in order to implement the replacement value will apply.

Pursuant to the rule, if a tenant ultimately buys a property under the calculation method attached to the rented house, then in the event of selling the property the tenant should act likewise based on the same methods.

Translated by Conchita Delgado
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Is protest over?

That political protest in Venezuela has lost momentum seems pretty obvious: people are no longer building barricades to block off streets near Plaza Francia in Altamira (eastern Caracas), an anti-government stronghold; no new images have been shown of brave and dashing protesters with bandanna-covered faces clashing with the National Guard in San Cristóbal, in the western state of Táchira; and those who dreamed of a horde of "Gochos" (Tachirans) descending  in an avalanche to stir up revolt in Caracas have been left with no option but to wake up to reality.

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