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Apartments for sale that can be paid for in up to 30 years without a mortgage loan from banks - La Nacion Propiedades
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www.lanacion.com.ar
August 12, 2024
Mortgage loans have come to the market and developers have created a strategy to join the proposal of selling properties in installments
By Maria Josefina Lanzi
Some developers sell in installments of up to 30 years, but without mortgage credit from banks Shutterstock
In the midst of a market that was revolutionized by the arrival of mortgage loans , developers did not want to be left out of this dance and launched themselves into the market with offers that seek to raise the stakes: they offer lots in installments of up to five years and loans for the purchase of properties in the works, financed up to 30 years by themselves.
The issue is that, since a mortgage loan requires the property as collateral - which can be mortgaged and is ready to be registered - the lines offered by banks with financing for more than 20 years are generally intended for the purchase of used apartments.
Brand new units, unless they are ready to be registered, cannot be purchased with a mortgage loan, as can properties in the works. It should be noted that new apartments, from the time they are finished being built until they are registered, go through a process that takes between six months and a year in CABA, and a year and a half to two in the province.
Mortgage loans: the Caballito project has 380 apartments in 7 buildings Gentleness
The development that emerges as an alternative to mortgage loans had an investment of US$50 million Gentleness
In this context, a few months after the launch of mortgage loans on the market, a developer came onto the market with a four-year loan to buy properties in a development in Caballito. The plan allows the purchase of an apartment in Prima, the project that the developer CasasARG built in three stages and has 380 apartments in seven buildings.
“It is a project that had an investment of US$50 million , it is in its last months of its third stage of construction and the best thing that can happen is that people use it,” analyzes Sebastián Sommer, who leads the developer that is building it and explains that it is necessary to have a 50% advance in savings, the rest is financed by them in up to 48 months, that is, four years. “ The installments are in dollars, fixed and are paid monthly ,” Sommer explains. There is also the possibility of accessing bank financing ; in this case, 80% of the property can be financed over 30 years.
The development occupies an entire block between Franklin, Gavilán, Neuquén and Boyacá Avenue in the heart of Caballito Norte and has seven buildings. The units range from studio, one, two and three rooms . Regarding prices,one-bedroom apartments of 50 m² start at US$125,000,two-bedroom apartments of 72 m² start at US$160,500 and three-bedroom apartments of 92 m² start at US$238,000.
Unlike mortgage loans granted by banks, which are adjusted month by month by UVA, the apartments in these projects are updated monthly by the CAC index.Gentleness
Properties are paid for in pesos, dollars, and even crypto. Unlike mortgage loans granted by banks, which are adjusted month by month by UVA, the apartments in these projects are updated monthly by the CAC index (established by the Chamber of Construction, which considers the increase in the cost of labor and materials) plus an annual nominal rate ranging from 7%, depending on the project , delivery time, and other characteristics. An interesting fact is that the initial savings that must be counted on, which is between 20% and 25% of the property depending on the unit and the project, can be paid in three parts, over a period of two years.
“While many banks require that applicants for credit have a 25% income-to-payment ratio, this condition is not required in this case. “Nor is a guarantee required for the acquisition of the units in the condominium, only the payment of the advance,” says Juan Manuel Tapiola, CEO of Spazios, the developer that will carry out the initiative. The maximum repayment period is up to 30 years , but it can be less and they have a calculator that allows you to do the math to consider possible plans for fewer years.
In this way, if we look at a concrete example of the next 30 years and the units that the developer is selling, in the project that is being built on Nahuel Huapi street at 5200, a 35 m² studio apartment could be acquired with a down payment of US$29,000, paying initial installments of $700,000 (which are then updated by CAC). A 57 m² one-bedroom apartment could also be accessed with a down payment of US$45,000 and monthly installments of $950,000.
While many banks that offer mortgage loans require that loan applicants have a 25% income-to-payment ratio, this condition is not required in this case.Spaces
This is the case, for example, of Pueblo Cardano, a project with an estimated investment of US$8 million, with delivery in 2026, located on Route 28, at km 8, in what some call Pilar Sur. The neighborhood has a unique proposal: it offers the possibility of acquiring a lot, paying for it in 60 monthly installments without interest, that is, over the course of five years. Payments are made in dollar bills, with fixed installments, without adjustment, without the need to comply with an installment-income ratio and putting a 35% advance payment in dollars.
“ In January and February, enquiries and visits had cooled down considerably, so we saw that the market was asking for opportunities to define investments ,” says Mariano Braun, director of Micelio Desarrollos. This financing is for a limited time and offers an alternative to paying in fewer installments: you can start with a 40% advance in dollars and pay the rest in 24 monthly installments in pesos, with a monthly CAC adjustment. If you want to opt for cash payment in dollars, you can access a 10% discount.
Gated communities where lots can be purchased in installments of up to 5 yearsNorthern Developments
Other options for acquiring lots financed in installments in gated communities in the Pilar area are Azzurra Tortugas and Verona Pilar . These are two neighborhoods led by Desarrollos Norte that allow you to buy lots with a 40% down payment , two annual reinforcements of 5% (each) and 50% in 50 installments, that is, in a little more than four years. It does not include an interest rate - as do the current mortgage loans offered by banks to buy a house - and they are paid in fixed installments in dollars, although, if the buyer wishes, he can pay in pesos adjusted by CAC.
“These are two neighborhoods with master plans created by Estudio Robirosa, a landscaping project by Carlos Thays, and an architectural design of the common areas by Pacifica Arquitectura by Architect Ezequiel Gil,” says Mariano Galeazza, partner at Desarrollos Norte. With an approximate investment of US$45 million , prices for the internal lots for Azzurra Tortugas start at US$130,000 and US$230,000 for the premium lots facing the stream; those overlooking the central lagoon start at US$340,000. In the case of Verona Pilar, the investment was approximately US$17 million; the internal lots are offered from US$110,000 and the premium lots facing the park start at US$145,000.
Gated communities with installment purchase proposals, similar to the mortgage loans that came onto the market, have various amenities proposals Mycelium Developments
For its part, Azzurra Tortugas is located at km 38 of Panamericana, has 80 hectares, more than 500 single-family lots , an area for medium-density and housing projects. It has several sectors delivered, with more than 80 houses under construction; other areas will be finished in the course of 2024. Among its amenities, there is a stream that crosses the neighborhood in its entire length and a central lagoon of more than four hectares. For its part, Verona Pilar is located at km 47 of Panamericana at a price of more than 20 hectares and has approximately 180 single-family lots between 600 m² and 900 m² , an area for housing projects, a sports area and another for services. The project is scheduled to be delivered in the first half of 2026.
www.buysellba.com
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Venden departamentos que se pueden pagar hasta en 30 años sin crédito hipotecario de los bancos
Los créditos hipotecarios llegaron al mercado y los desarrolladores generaron una estrategia para sumarse a la propuesta de vender propiedades en cuotas
www.lanacion.com.ar
August 12, 2024
Mortgage loans have come to the market and developers have created a strategy to join the proposal of selling properties in installments
By Maria Josefina Lanzi
Some developers sell in installments of up to 30 years, but without mortgage credit from banks Shutterstock
In the midst of a market that was revolutionized by the arrival of mortgage loans , developers did not want to be left out of this dance and launched themselves into the market with offers that seek to raise the stakes: they offer lots in installments of up to five years and loans for the purchase of properties in the works, financed up to 30 years by themselves.
The issue is that, since a mortgage loan requires the property as collateral - which can be mortgaged and is ready to be registered - the lines offered by banks with financing for more than 20 years are generally intended for the purchase of used apartments.
Brand new units, unless they are ready to be registered, cannot be purchased with a mortgage loan, as can properties in the works. It should be noted that new apartments, from the time they are finished being built until they are registered, go through a process that takes between six months and a year in CABA, and a year and a half to two in the province.
Mortgage loans: the Caballito project has 380 apartments in 7 buildings Gentleness
The development that emerges as an alternative to mortgage loans had an investment of US$50 million Gentleness
In this context, a few months after the launch of mortgage loans on the market, a developer came onto the market with a four-year loan to buy properties in a development in Caballito. The plan allows the purchase of an apartment in Prima, the project that the developer CasasARG built in three stages and has 380 apartments in seven buildings.
“It is a project that had an investment of US$50 million , it is in its last months of its third stage of construction and the best thing that can happen is that people use it,” analyzes Sebastián Sommer, who leads the developer that is building it and explains that it is necessary to have a 50% advance in savings, the rest is financed by them in up to 48 months, that is, four years. “ The installments are in dollars, fixed and are paid monthly ,” Sommer explains. There is also the possibility of accessing bank financing ; in this case, 80% of the property can be financed over 30 years.
The development occupies an entire block between Franklin, Gavilán, Neuquén and Boyacá Avenue in the heart of Caballito Norte and has seven buildings. The units range from studio, one, two and three rooms . Regarding prices,one-bedroom apartments of 50 m² start at US$125,000,two-bedroom apartments of 72 m² start at US$160,500 and three-bedroom apartments of 92 m² start at US$238,000.
“He found a way around it”
A developer decided to double the bet and opted for the possibility of buying a condominium in a condominium, paying in installments over 30 years, financed by himself. By putting down a down payment of 20 to 25%, the units can be acquired in installments of up to 360 months.
Unlike mortgage loans granted by banks, which are adjusted month by month by UVA, the apartments in these projects are updated monthly by the CAC index.Gentleness
Properties are paid for in pesos, dollars, and even crypto. Unlike mortgage loans granted by banks, which are adjusted month by month by UVA, the apartments in these projects are updated monthly by the CAC index (established by the Chamber of Construction, which considers the increase in the cost of labor and materials) plus an annual nominal rate ranging from 7%, depending on the project , delivery time, and other characteristics. An interesting fact is that the initial savings that must be counted on, which is between 20% and 25% of the property depending on the unit and the project, can be paid in three parts, over a period of two years.
“While many banks require that applicants for credit have a 25% income-to-payment ratio, this condition is not required in this case. “Nor is a guarantee required for the acquisition of the units in the condominium, only the payment of the advance,” says Juan Manuel Tapiola, CEO of Spazios, the developer that will carry out the initiative. The maximum repayment period is up to 30 years , but it can be less and they have a calculator that allows you to do the math to consider possible plans for fewer years.
In this way, if we look at a concrete example of the next 30 years and the units that the developer is selling, in the project that is being built on Nahuel Huapi street at 5200, a 35 m² studio apartment could be acquired with a down payment of US$29,000, paying initial installments of $700,000 (which are then updated by CAC). A 57 m² one-bedroom apartment could also be accessed with a down payment of US$45,000 and monthly installments of $950,000.
While many banks that offer mortgage loans require that loan applicants have a 25% income-to-payment ratio, this condition is not required in this case.Spaces
The shortcut that gated communities find to sell lots
Building developers are not the only players who have introduced innovative proposals to the game, but, as expected, developers of gated communities also did not want to be left out of this dance.This is the case, for example, of Pueblo Cardano, a project with an estimated investment of US$8 million, with delivery in 2026, located on Route 28, at km 8, in what some call Pilar Sur. The neighborhood has a unique proposal: it offers the possibility of acquiring a lot, paying for it in 60 monthly installments without interest, that is, over the course of five years. Payments are made in dollar bills, with fixed installments, without adjustment, without the need to comply with an installment-income ratio and putting a 35% advance payment in dollars.
“ In January and February, enquiries and visits had cooled down considerably, so we saw that the market was asking for opportunities to define investments ,” says Mariano Braun, director of Micelio Desarrollos. This financing is for a limited time and offers an alternative to paying in fewer installments: you can start with a 40% advance in dollars and pay the rest in 24 monthly installments in pesos, with a monthly CAC adjustment. If you want to opt for cash payment in dollars, you can access a 10% discount.
Gated communities where lots can be purchased in installments of up to 5 yearsNorthern Developments
Other options for acquiring lots financed in installments in gated communities in the Pilar area are Azzurra Tortugas and Verona Pilar . These are two neighborhoods led by Desarrollos Norte that allow you to buy lots with a 40% down payment , two annual reinforcements of 5% (each) and 50% in 50 installments, that is, in a little more than four years. It does not include an interest rate - as do the current mortgage loans offered by banks to buy a house - and they are paid in fixed installments in dollars, although, if the buyer wishes, he can pay in pesos adjusted by CAC.
“These are two neighborhoods with master plans created by Estudio Robirosa, a landscaping project by Carlos Thays, and an architectural design of the common areas by Pacifica Arquitectura by Architect Ezequiel Gil,” says Mariano Galeazza, partner at Desarrollos Norte. With an approximate investment of US$45 million , prices for the internal lots for Azzurra Tortugas start at US$130,000 and US$230,000 for the premium lots facing the stream; those overlooking the central lagoon start at US$340,000. In the case of Verona Pilar, the investment was approximately US$17 million; the internal lots are offered from US$110,000 and the premium lots facing the park start at US$145,000.
Gated communities with installment purchase proposals, similar to the mortgage loans that came onto the market, have various amenities proposals Mycelium Developments
For its part, Azzurra Tortugas is located at km 38 of Panamericana, has 80 hectares, more than 500 single-family lots , an area for medium-density and housing projects. It has several sectors delivered, with more than 80 houses under construction; other areas will be finished in the course of 2024. Among its amenities, there is a stream that crosses the neighborhood in its entire length and a central lagoon of more than four hectares. For its part, Verona Pilar is located at km 47 of Panamericana at a price of more than 20 hectares and has approximately 180 single-family lots between 600 m² and 900 m² , an area for housing projects, a sports area and another for services. The project is scheduled to be delivered in the first half of 2026.
www.buysellba.com
