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Expo Real Estate: Mortgage loans and money laundering, the main themes of a real estate fair - Infobae
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Expo Real Estate: créditos hipotecarios y blanqueo, ejes de una feria inmobiliaria
Qué oportunidades ven los desarrolladores y constructores. Hay coincidencias en que hay un cambio de tendencia y la posibilidad de un despegue del mercado de vivienda
www.infobae.com
August 17, 2024
What opportunities do developers and builders see? There is agreement that there is a change in trend and the possibility of a take-off of the housing market
By Jose Luis Cieri
Busy corridors at the hotel where the Expo Real Estate 2024 is taking place
The return of real estate loans and money laundering , which will allow the purchase of units in the works, boosted the enthusiasm of developers, real estate agents and people linked to this sector in the 2024 edition of the Expo Real Estate, which was held at the Hilton Hotel in Puerto Madero. More than 10,000 visitors attended the first day, touring stands and following the different talks.
Little by little, transactions are beginning to take place in real estate companies through financing already provided by more than 21 banks in the country. This situation marked a turning point for the segment after six years.
The local real estate market has gone through times of great uncertainty due to macro instability and the pandemic. “However, we have recently noticed an increase in customer inquiries, which are accompanied by a greater intention to carry out visits and purchases. Despite the difficulties, there is a latent interest in real estate investment, especially in those projects that offer real and tangible value to buyers. We are seeing a more determined client profile, looking for safe options to invest and protect their capital,” Néstor Ruiz , from the Dinal Group, which carries out projects in Tigre and Luján, told Infobae.
Astonishment
Among the sector's protagonists there was astonishment at the number of people who attended and noticed stands of national developments and several from Miami, United States. In this edition there was no proliferation of projects from Paraguay or Uruguay, as in previous editions.
Great attendance at the talks held at the Hilton
Ricardo Griot , from the Pecam Group, highlighted that “mortgage credit is now driving the market throughout the country. In addition, private neighbourhoods and service areas such as shopping centres near cities such as Rosario, among others, are advancing. There is an increasing deployment of dry construction and sustainability is a criterion of the youngest who prioritise modernity, technology and living in environmentally friendly homes.”
Buy before it goes up
Industry insiders say it is vital to buy now, as the gap between the listing price and the closing price has narrowed significantly since mid-2023.“For those who have savings or are planning to take out a mortgage, it is advisable to do so soon. If macroeconomic policy is corrected favorably and the exchange rate is lifted before the end of the year or at the beginning of 2025, the prices of homes—used, brand new and in construction—will rise, and will no longer be at the values of 10 years ago,” said Alan Schachter , a real estate market expert.
Used two- and three-room apartments, brand new two- and even four-room apartments, houses in cities with more than 100,000 inhabitants are part of the greatest demand in the market today. As are the lots in the private neighborhoods that are distributed in Greater Buenos Aires and in various parts of the country such as Mendoza, Rosario and Córdoba, among other destinations.
Rentals
Post DNU, the rental market was boosted and in addition to the real estate guarantees required for signing a new contract, tenants can resort to a private deposit to access a guarantee that insures both the owner and the tenant for the duration of the agreement.
Developers, real estate agents and organizers at the opening of the event
Oscar Lema , president of Finaer, highlighted the large number of professionals at the real estate event, pointing out a renewed enthusiasm and positive expectations in the sector.
In terms of activity, he mentioned that since the repeal of the Rental Law at the end of the year, “there has been a notable increase in the demand for rental guarantees. Confidence has returned, and with the supply of properties increasing again, we are working at full speed, without interruptions, to meet this growing demand.”
Vaca Muerta continues to advance
Near the hydrocarbon basin located in the province of Neuquén, both in Añelo and in the capital of this Patagonian district there are more than 5,000 homes for sale.Lucas Salvatore , from the company IDERO, highlighted that “there is a lot of demand from those who are going to work on the gas pipeline and the infrastructure works that are being done. We are currently working on a project of more than 1,000 units with a steel core, a material and construction system that allows us to build and save costs and time at the same time compared to traditional construction.”
It is estimated that more than 10,000 people attended the first day.
They also work with steel on buildings in Nordelta and other parts of the AMBA. “These works are done at a rate of USD 800 to USD 1,600 per square meter. The same cost that a traditional construction system requires. What is remarkable is that they are working well and that the real estate sector is beginning to take off,” added Salvatore.
Credits and innovation
Consultatio and Banco Hipotecario launched the first mortgage loan for apartments under construction at Huergo 475, a 38-story tower on Paseo del Bajo. This agreement allows interested parties to access mortgage financing, 100% online, with a quick pre-approval and without the need for an additional appraisal.This development offers 1, 2 and 3-room apartments, ideal for both permanent housing and rental investment.
The project on Paseo del Bajo, on Avenida Huergo, is moving forward
“There are currently units available, with prices ranging from USD 173,000 to USD 380,000, with financing through Consultatio with a down payment and installments in dollars or pesos adjusted by the CAC Index or the alternative of financing the purchase through Banco Hipotecario for up to 30 years,” said Gonzalo de la Serna , CEO of the developer.
Inside
However, high inflation (which only slowed down three months ago) and fluctuations in the exchange rate have affected the purchasing power and stability of prices of goods and services, influencing the demand and costs of real estate and production projects."However, we have noticed an improvement in the real estate sector since the second half of the year onwards, which has eased the medium-term scenario, with the hope that the necessary investments will arrive to reactivate the economy in all sectors," said Diego Torrea , from Altos de Tinogasta, in the province of Catamarca.
Construction and the future of housing were the axes of the real estate meeting
This development combines housing and production of consumer goods. Torrea added: “For this reason, we began to develop the tourism area in Tinogasta, with a view to building a hotel and wine-olive tourism services, to attract tourists who dare to explore new destinations in search of better experiences.”
Investments in Miami
Miami had several stands at the exhibition, including that of First Service Realty, which received inquiries from those interested in investing in the most important areas of the Florida peninsula.Sergio Chanteiro , from this company, pointed out that “it is clear that Argentines have adopted Miami into their orbit and are looking for properties that offer a good return that climbs up to 10% annually in dollars. There are also those who moved and protect their capital by leveraging 30-year mortgage loans.”
Nowadays, the public chooses activities, including football, such as the recent Copa América or the upcoming 2026 World Cup, events that attract investors.
“Hollywood and Aventura are some of the areas that have seen the most growth. There are lots that start at USD 40,000 and everything depends on what the investor is looking for or decides to buy or do with their money and the focus is on bricks and mortar,” concluded Chanteiro.
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