Women's Retirement Cartoons

Legal Policy Housing Policy Housing Policy in Venezuela

When we touch the point of the need to purchase a home, we must necessarily refer to the system that governs us in terms of housing policy in Venezuela.

In March 2010, there was the annual convention of Housing, which presented some ideas at the macro level about the need that exists in Venezuela to solve the housing shortage. Below we cite some facts, ideas and conclusions drawn in this seminar:

Housing Policy in Venezuela:

2,913 74.10% 4,435 20.10% 7,098 5.80%

Average Monthly Household Income	Percentage for Home
Bs.F
Bs . F
Bs.F

consider the people, taking into account the following variables: occupation head of household, level of education of the mother, the main source of income and housing conditions, a method used by the BCV in the National Survey Results Household Budget (Graff), where each household is assigned to a stratum depending on the value of the index.

In this study we highlight the following:

	Stratum Class	Total Households	%	Population	average per capita income	Average monthly household income
I	High	376048	5.8	1,626,931	2383	7098
II	Medium High	1295873	20.1	5,606,449	1375	4435
III	Media	2891150	44,8	12.508.237	766	2.913
IV	Media Baja	1768291	27,4	7.650.313	399	1.694
V	Baja	125475	1,9	542.853	175	828
Total		6.456.837	100,0	27.934.783	1,066	3,624

This study shows that:

• 
  
  
  Only 26% of households are able to save for home purchase.
• 
  
  
  can only buy a house focusing on family income.
• 
  
  
  The population demanding social housing is characterized by having no savings capacity.

As the demand for residential units, there is a shortage of 1,900,000 homes. In relation to the policies established by the National Government has given a boost to construction in order to generate 200,000 housing units annually, with the intention that in 10 years to achieve the goal of 2,000,000 housing units built.

For the years 2007, 2008 and 2009 built 101,576, 114,653 and 108,518 households respectively, so that housing demand is greater than supply.

For the lineaments of housing policy, it seeks to develop low-income sectors, with substantial resources for households earning up to 7,000 Bs per month, with priority middle-class sectors of high, medium and low.

Another fact that contribution this study of interest is the question of financial resources earmarked for the purchase of home:

Financial resources available for short term

2010 mortgage portfolio

Concept	Bs.F million	Credit average Bs / viv	No. homes
Credit Loan Portfolio to 31/12 / 09	159,647
Hip Portfolio. Compulsory (10%)	15,965
long-term credits, acquisition (6%)	9,579		31,706
BsF FIM to 7,000 (37%)	3,544	210,000	16,880
BsF FIM 7,000 to 16,560 (37%)	3,544	360,000	9,844
BsF FIM 16,560 to 23,000 (26%)	2,491	500,000	4,982
short-term credit, construction (4%)	6,386
BsF FIM to 2,800 (50%)	3,193	120,000	26,608
Bs.F FIM 2800 to 7000 (50%)	3,193	180,000	17,739
Total Housing			44,347

important thing about these data is that we says there are only resources for a total of 44,347 homes, so we are before a situation of high demand for housing and only limited resources for the acquisition of 44,347 housing units.

This leads to a conclusion highly relevant. If many of us are opting to obtain a loan for the purchase of housing and financial resources are limited:

How can I get mortgage approval with so many pending applications?

option that I have my loan approved?

The success in achieving the goal is given by the proper preparation of our record, as they will have more options, applications which are strictly attached to the technical standards for the presentation of the credit record of housing policy in Venezuela and standards domestic financial institution, avoiding mistakes and presentation of cases lacking all the necessary precautions.

So that is our role: to ensure that our file is complete. For this we are working.