Government unveils housing finance plan and legal measures to help families displaced by the June 24 twin earthquakes.
Venezuela will subsidize up to 80% of the cost of replacement homes for families who lost their residences in the June 24 twin earthquakes, Acting President Delcy Rodríguez announced Tuesday as the government introduced new measures to support long-term recovery from one of the country’s deadliest natural disasters in recent years.
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The housing initiative is designed to help displaced families purchase homes on the secondary market through financing backed in part by the Venezuela Renace Fund, while both public and private banks have been prepared to provide mortgage loans for eligible buyers.
Under the proposal, the fund will cover 80% of the purchase price for homes valued at up to $70,000. For properties costing between $70,000 and $100,000, the subsidy will cover 50% of the price. Beneficiaries will be able to finance the remaining balance through loans repayable over 25 years.
Text Reads: Protecting the families affected by the double earthquake is our top priority. I have requested the Supreme Court to establish a special jurisdiction to address civil matters related to property ownership and identity: those who lost their apartments retain their rights to the land and will receive state support for reconstruction. This jurisdiction will also address civil matters related to identity and inheritance.
I also announce that families who lost their homes now have the support of national banks to purchase properties on the secondary market. The Venezuela Renace Fund will subsidize 80% of the value of properties up to $70,000, and families will have access to a loan for the remaining 20%, with a 25-year term. For homes valued between $70,000 and $100,000, the Fund will subsidize 50%, while the other 50% will be covered by a loan with the same term.
We are moving forward decisively in this stage of reconstruction and recovery for the rebirth of Venezuela.
Rodríguez also said she had asked the Supreme Court to establish a special jurisdiction to handle civil matters related to property ownership, identity documents and inheritance procedures arising from the disaster.
She clarified that owners whose apartment buildings were destroyed would retain their property rights through proportional ownership of the land corresponding to their former share under the condominium arrangement if reconstruction is pursued.
The acting president warned that authorities would closely monitor the real estate market to prevent price speculation as affected families seek replacement housing.
Government inspections have assessed 32,485 homes since the earthquakes. Of those, 18,139 were classified as green, 7,099 as yellow and 7,147 as red. The inspections included 17,832 homes in Caracas, 12,552 in La Guaira and 4,878 in Miranda.
The June 24 twin earthquakes left at least 5,546 people dead, injured 16,740 others and left nearly 18,000 people without housing, according to official figures. The government said the new financial assistance and legal measures are intended to support families as reconstruction efforts continue.
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