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Improvement in the real estate market: What impact is expected from money laundering and what happens with mortgage loans - Ambito
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Mejora en el mercado inmobiliario: qué impacto se espera con el blanqueo y qué sucede con los créditos hipotecarios
Desde el sector aseguran que estas medidas ayudan a repuntar las ventas pero prefieren mantener la cautela. En el primer semestre del año, se notó una leve mejoría.
www.ambito.com
August 4, 2024
The sector claims that these measures are helping to boost sales, but it prefers to remain cautious. In the first half of the year, a slight improvement was noted.
The money laundering will add another incentive for the real estate market to improve.
The real estate sector showed a slight improvement in the first half of the year, which is due to the incentive of mortgage loans and the money laundering strategy. In the case of money laundering, the plan provides for discounts on apartment prices so that people pay in cash or up to 75% of the property with laundered dollars .
The sector claims that this type of measure helps to boost sales, but they prefer to remain cautious. This measure will encourage sales from the outset , and there will most likely be special prices for 100% cash payment.
Although the ranges have not yet been defined and this will depend on each project, state of development and cash flow needed, these types of phenomena encourage potential buyers who have the money, but do not possess the laundered money. It is a tool that will benefit those who want to bring money into the market and those who need to sell.
On the other hand, the developers say that they are not selling all the properties because the inflationary context means that they have to have reserves to sell the remaining units when their construction is more advanced. In this way, they can make a difference to support the increases in supplies, salaries and the rise of the dollar, which increases costs.
Those who adhere to the whitening process will have the possibility of accessing the Special Regime for Income from Personal Property, which includes four periods, from 2024 to 2027, at a rate of 0.5%. This also exempts them from having to file tax returns during that period of time.
For the sector, what will be most promoted is the sale of wells.
The mortgage lending landscape
In the case of mortgage loans, they generated a slight increase in the trend of the real estate purchase and sale market.The Notaries Association of the City of Buenos Aires recorded a 27.47% increase in the number of deeds executed in June compared to the same month in 2023. During the sixth month of the year, there were 4,232 deeds and the total amount of transactions reached $362,001 million, a year-on-year growth of 350.25%.
During the first half of the year, deeds in the province of Buenos Aires totaled 41,122, an increase of 12.56% compared to the same period in 2023. With these data, June represented 21.35% of the total transactions registered in the first six months of the year.
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