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Sector specialists predicted that with Javier Mileis government, property prices will recover, which would rise significantly in dollars.
The real estate market will undergo a "change of cycle" based on the new Government and new economic conditions, which would include a recovery in property prices, an increase in construction costs and the possible boost to mortgage loans in the medium term. , according to sector specialists.
Damián Tabakman, president of CEDU
«The triumph of (Javier) Milei was good for the market, there is a slightly less anguished state of mind than before; There is greater optimism and desire to look at new projects, of course with the caution inherent to this paradigm shift," said the president of the Business Chamber of Urban Developers (CEDU), Damián Tabakman.
In a panel developed by Zonaprop, the businessman said that "2023 was good, the recovery in the used world is beginning to be seen and the drop in prices would be reaching its floor."
Likewise, he maintained that "in private construction the last year was good, more than satisfactory, even much better than the world of resales or used ones," given that "to a large extent our sector was channeling the universe of idle pesos of the hand of this very high inflation that we have as a refuge of value.
He maintained that "historically the cost of construction is between cheap and very cheap, even compared to equivalent prices in the region," and this is largely due to the fact that "the segment of the labor force that is on the floor and is the 50% of what it costs to manufacture a square meter.
"There is a feeling that we have to accelerate the construction processes now because then building, manufacturing and creating square meters in Argentina is going to be much more expensive than now," he said.
In this context, he analyzed that "if Argentina were to move towards a path of normalization, what is expected in the economy as a whole is that these Argentine assets that were so cheap for so many years would begin to revalue."
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Photo: Archive.
He also referred to "the inclusion in the agenda of the possible return of mortgage credit, which I am very optimistic about the impact it would have on our sector and on Argentine society in general, but I am more cautious regarding the moment in which this may arrive." to happen," he highlighted.
"While such high inflation persists, it is difficult for very long-term credits to be financeable and takeable," he added.
On the other hand, he said that real estate prices "are going to rise in dollars significantly," and especially "premium ones sooner than one thinks."
According to a Real Estate Report survey on used apartments offered for sale in the city of Buenos Aires between one and four rooms, in November there was no drop in the average price per m2 in any of the typologies, including four-room units. They experienced an increase of 4.51% compared to last October.
CABA Notary School
The Notary School of CABA indicated that the total number of real estate purchase and sale deeds registered an increase of 53.3% in the tenth month of 2023 compared to the level of a year before, adding 4,559 records.
«It is a year and a half of not comparing negatively with the previous period, and it gives some peace of mind to detach ourselves from a period of three or four years of decline. Our greatest desire is to work together to collaborate with the new elected Government on a comprehensive housing policy. We must work for that stability and growth,” observed Jorge De Bártolo, president of the College of Notaries.
Photo File
Photo: Archive.
Other developers
Likewise, the developer Gustavo Ortolá said that "2023 was a positive year in quantitative terms, it ended in the City of Buenos Aires above 2022, still below what the best years were."
"We have had 50 months of price declines and the stock level (of properties for sale) has dropped, opportunities have been absorbed," he stated.
From now on, he considered that "a new cycle begins, that does not mean that mortgage credit will come out immediately, but the perspective with this change is positive."
For his part, real estate broker Juan Pablo Baca stated that there will be a "positive cycle change," and that there are "reasons to be optimistic in the medium and long term, even more so if the Rental Law improves and mortgage loans return."
«Disarming the Leliq bomb at the cost of high inflation will cause the blue dollar to lose against the price index, so it will not be a business to keep the bills under the mattress, and real estate will be one of the sectors that will do so. will absorb," he added in a report.
Source: Telam |
