Housing Finance Policy

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A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework
VariableEnd of 2014End of 2013End of 2012SourcesVar ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)Civil LawCivil lawCivil lawA.1.1
Are there specific laws that deal with mortgages? YesYesYesA.1.2
Registration/Transfer of titles:A.1.3
Typical number of days needed for the transfer of title52 days52 days52 days
WDI
A.1.3.4
Are there legal constraints on mortgage features?YesYesYesA.1.6
Interest rate caps YesYesA.1.6.1
Other YesYes
Venezuela Government Press Report - http://venezuelanalysis.com/news/7771
A.1.6.4
Is there specialized legislation covering:A.1.9
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
B.2 Subsidies to Households
VariableEnd of 2014End of 2013End of 2012SourcesVar ID
Are there subsidies to households on housing finance? YesYesB.2.1
Interest rate subsidies by special government funds YesYesB.2.1.1
Down-payment subsidies  YesYesB.2.1.3
Other YesYesB.2.1.6
Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
C. Taxation
VariableEnd of 2014End of 2013End of 2012SourcesVar ID
What taxes apply to Residential Real Estate?C.1
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Notes: Base Year
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Figure listed is information of mortgage loans from banking system but not limited to housing sector.
Notes: Government can help low-income households with a one-time or gradual disbursement of money to own a house, under Direct Subsidy scheme.
Notes: Government can help low-income households with a one-time or gradual disbursement of money to own a house, under Direct Subsidy scheme.
Notes: Government sponsored Mortgage Guarantee.
Notes: Government sponsored Mortgage Guarantee.
Notes: Interest rates are capped at 4.33%,10.66% and 16.4% for low, medium and high income individuals respectively.
Notes: Interest rates are capped at 4.33%,10.66% and 16.4% for low, medium and high income individuals respectively.
Notes: Interest rates are capped by law and are called Social Interest rates.
Notes: Interest rates are capped by law and are called Social Interest rates.
Notes: Lending institutions are mandated to lend 20% of their portfolio towards mortgages.
Notes: Lending institutions are mandated to lend 20% of their portfolio towards mortgages.
Notes: National Percentage
Notes: The Congress of the Republic of Venezuela passes laws on mortgages and regulates the industry.
Notes: The Congress of the Republic of Venezuela passes laws on mortgages and regulates the industry.
Notes: The Congress of the Republic of Venezuela passes laws on mortgages and regulates the industry.