David Cunliffe should take note of where socialism ends up, though their coalition partner, the Greens, would no doubt see no problem with this.
It’s just a small step away from a CGT and banning anyone who doesn’t look like an Anglo Saxon from entering the property market.
Landlords in Venezuela have been ordered to sell any property they have owned for more than 20 years – or face a ÂŁ24,000 fine.
Those who do not pay the penalty within five days will be evicted, and the state will seize the property.
The unprecedented scheme, announced with immediate effect on Monday, is a wild bid by the nation’s government to plug the huge housing shortage.
To prevent a dip in the market, the decree rules landlords can only charge a ‘fair price’ for their homes – that must be submitted to the government prior to the sale.
Guideline prices will be published once the inflation rate for this year has been calculated. In 2013, it rose to 56.2 per cent.
The law has been met with a barrage of criticism from the real estate industry, with experts warning it will fuel a new form of black market renting.
Roberto Orta, president of The Rented Properties Association (Apiur) in Caracas, blasted the law as ‘unconstitutional’, claiming it will strip ‘legitimate’ owners of their livelihood.
He told Noticias24: ‘Many of these buildings are occupied by elderly people who often aren’t eligible for bank loans, so many of them won’t be able to pay.’
Housing in Venezuela has been plummeting for 15 years, as the population grows and the slums crumble.Â Read more »