Venezuela earthquake death toll surpasses 6,000

The death toll from a devastating double earthquake that struck Venezuela on June 24 has climbed to 6,125, as per the latest official figures released by Parliament Speaker Jorge Rodríguez.

The powerful tremors, registering 7.2 and 7.5 magnitude, caused catastrophic damage, leading to the collapse of at least 190 buildings. The state of La Guaira, near the capital Caracas, was the most severely affected region. Families continue to search for an estimated 1,400 individuals still missing.

In addition to collapsed structures, authorities have classified 6,433 buildings as "high risk" and 9,866 as "restricted housing," forcing thousands of families into temporary shelters or to stay with relatives and friends. The government has begun controlled demolitions of unstable structures and is housing nearly 24,000 displaced individuals in camps.

To address the severe housing shortage, Venezuela's Parliament recently approved a new rental law. This legislation aims to stimulate the rental market by increasing the supply of available properties, ending decades of uncertainty for property owners caused by property invasions and a lack of legal security. President Delcy Rodríguez stated the law is designed for a "win-win" scenario between property owners and renters, potentially benefiting around 400,000 homes. The government also plans to deliver approximately 4,000 new homes by year's end and offer financing for earthquake victims.

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We are estimating around 400,000 homes that could benefit from this law.