BuySellBA
Administrator
Money laundering: Zonaprop's number one surveyed all the neighborhoods and detailed where the real estate opportunities are - La Nacion Propiedades
Source:
www.lanacion.com.ar
September 18, 2024
The regularization of assets is driving investments and transforming the sector, which is reflected in an increase in the supply and demand for housing.
By Leandro Molina
AFIP presents new regulations for money laundering with specific benefits for real estate investmentsHernan Zenteno - The Nation
In July, the Federal Public Revenue Administration (AFIP) implemented the regulation of the Asset Regularization Regime that allows up to US$100,000 to be declared without paying taxes . For higher amounts, progressive rates ranging from 5% to 15% will apply. However, if the registered assets are destined for real estate projects, there will be no limit on the amount allowed.
A major point of relevance regarding this regulation is the Real Estate Project Registry (REPI) , which opens the possibility of declaring funds without a limit or cost for new works or with a degree of progress of up to 50%.
The Asset Regularization Regime boosts the real estate market: tax exemption and increased demand for developments Rodrigo Nespolo
“The subjects covered by the regulations are direct investors, developers, builders, investment vehicles or contractors of construction contracts. The registry will include direct or indirect investments in construction of residential, non-residential, rural buildings , land subdivision, renovations, extensions, installations, improvements and any project that, in accordance with building codes or similar provisions, requires a report, authorization or approval by a competent authority. In addition, construction contracts on own property for industrial, productive, housing or commercial purposes will be included,” establishes the decree published in August 2024.
This is a great opportunity to boost the sector. Those who want to invest in developments or need to access the benefit to continue with works already started, will be able to do so without paying taxes. In relation to this route, in Zonaprop's surveys, we recorded an increase in development inquiries. In August there was 49% more demand than there was in the same month of 2023. Likewise, there is an increase in the supply of this type of notices: from July to August it grew by 6%, and compared to the same period last year, there are 18% more notices.
On the other hand, after the historic low in October 2023, a progressive rise in sales prices began . This is largely due to the increase in construction costs, mortgage loans and possibly also due to money laundering, since they generate an increase in demand and, consequently, also in prices.
Money laundering drives investment in real estate projects Chris Rycroft / Creative Commons
Regarding this last point, it is worth highlighting that the cost of construction in dollars also increased by 13.1% in 2024. This is a relevant factor because, as a result, the number of well projects began to increase due to replacement. This also directly impacts the value of brand new apartments. Currently, a one-bedroom apartment in the City has an average price of US$2,698/m² and shows an annual increase of 8.89% , while used apartments are those that register the lowest annual variation, they grew by 4.04% and have an average value of US$2,122/m².
Money laundering opens up a range of possibilities: this measure will not only allow access to the acquisition of used properties, but also brand new homes, houses in development or even land in development areas. This also allows for a more equitable balance in the setting of prices.
Money laundering not only allows you to acquire used properties, but also brand new homes.Archive
This regulation already brings great benefits to the real estate market. People who decide to take this path will be able to invest in properties and this will directly generate a constant flow of transactions.
On the other hand, Belgrano accounts for 12% of the demand , with a year-on-year growth of 35%. Also, 13% of the supply is concentrated there, 36% more than a year ago. The square meter of apartments in the pit is located at US$3308/m².
Belgrano accounts for 12% of the demand, with a year-on-year growth of 35% Daniel Basualdo
Caballito is positioned as the third neighborhood with the highest percentage, 11% of the demand is in this area, 71% more compared to August 2023. The supply, on the other hand, remains at 9%, without major changes over the last 12 months. The average price of a condominium in this area is US$2,775.
These three neighborhoods of CABA stand out for the variety of developments, with properties of one to four rooms with tickets starting at US$80,000 in the case of Palermo and Belgrano and from US$50,000 in the case of Caballito.
Flores, one of the neighborhoods with the most affordable prices in the real estate market Soledad Aznarez - The Nation
Flores is located in the central axis of the City of Buenos Aires and is one of the neighborhoods with the most affordable prices, next to Caballito. A two-room apartment has an average price of US$99,921, while a studio apartment is priced at US$84,620.
San Nicolás is another option in this price range. It is located in the macro-centre of the city, which allows easy access to different points of Buenos Aires. A two-room apartment there costs US$95,630, while a studio apartment costs US$83,800.
In the southeastern region of CABA is Parque Patricios , a neighborhood that takes on great importance due to the variety of public parks that function as important green lungs. In this case, a two-room apartment has an average price of US$90,425, while a studio apartment is priced at US$79,530.
Balvanera , located in the central axis of the city, with easy access to downtown Buenos Aires, is another neighborhood that offers prices below the amount established to declare. A two-room apartment has an average price of US$88,785, while a studio apartment can be purchased for US$79,490.
Parque Patricios, a neighborhood that takes on great importance due to the variety of public parks that function as important green lungs Soledad Aznarez - The Nation
Lugano is the most affordable option in CABA. A two-room apartment has an average price of US$51,934. This neighborhood is located in the south of the city, with easy access to the Province of Buenos Aires.
In addition, Barracas, Agronomía and San Telmo also make up the list of affordable neighborhoods within the market , although their values slightly exceed the amount established in the regulations of the Asset Regularization Regime. These options have an average value of US$102,113, US$105,610 and US$108,592, respectively.
In short, money laundering is still a recent measure within the national economy and, although we cannot state with certainty the causes of the growth in the real estate market, at Zonaprop we remain awaiting the changes that both this measure and those already implemented by the Government will bring to the sector.
www.buysellba.com
Source:
Blanqueo: el número uno de Zonaprop relevó todos los barrios y detalló dónde están las oportunidades inmobiliarias
La regularización de activos está impulsando inversiones y transformando el sector, esto se refleja en un aumento de la oferta y la demanda de vivienda
www.lanacion.com.ar
September 18, 2024
The regularization of assets is driving investments and transforming the sector, which is reflected in an increase in the supply and demand for housing.
By Leandro Molina
AFIP presents new regulations for money laundering with specific benefits for real estate investmentsHernan Zenteno - The Nation
In July, the Federal Public Revenue Administration (AFIP) implemented the regulation of the Asset Regularization Regime that allows up to US$100,000 to be declared without paying taxes . For higher amounts, progressive rates ranging from 5% to 15% will apply. However, if the registered assets are destined for real estate projects, there will be no limit on the amount allowed.
A major point of relevance regarding this regulation is the Real Estate Project Registry (REPI) , which opens the possibility of declaring funds without a limit or cost for new works or with a degree of progress of up to 50%.
The Asset Regularization Regime boosts the real estate market: tax exemption and increased demand for developments Rodrigo Nespolo
“The subjects covered by the regulations are direct investors, developers, builders, investment vehicles or contractors of construction contracts. The registry will include direct or indirect investments in construction of residential, non-residential, rural buildings , land subdivision, renovations, extensions, installations, improvements and any project that, in accordance with building codes or similar provisions, requires a report, authorization or approval by a competent authority. In addition, construction contracts on own property for industrial, productive, housing or commercial purposes will be included,” establishes the decree published in August 2024.
This is a great opportunity to boost the sector. Those who want to invest in developments or need to access the benefit to continue with works already started, will be able to do so without paying taxes. In relation to this route, in Zonaprop's surveys, we recorded an increase in development inquiries. In August there was 49% more demand than there was in the same month of 2023. Likewise, there is an increase in the supply of this type of notices: from July to August it grew by 6%, and compared to the same period last year, there are 18% more notices.
On the other hand, after the historic low in October 2023, a progressive rise in sales prices began . This is largely due to the increase in construction costs, mortgage loans and possibly also due to money laundering, since they generate an increase in demand and, consequently, also in prices.
Money laundering drives investment in real estate projects Chris Rycroft / Creative Commons
Regarding this last point, it is worth highlighting that the cost of construction in dollars also increased by 13.1% in 2024. This is a relevant factor because, as a result, the number of well projects began to increase due to replacement. This also directly impacts the value of brand new apartments. Currently, a one-bedroom apartment in the City has an average price of US$2,698/m² and shows an annual increase of 8.89% , while used apartments are those that register the lowest annual variation, they grew by 4.04% and have an average value of US$2,122/m².
Money laundering opens up a range of possibilities: this measure will not only allow access to the acquisition of used properties, but also brand new homes, houses in development or even land in development areas. This also allows for a more equitable balance in the setting of prices.
Money laundering not only allows you to acquire used properties, but also brand new homes.Archive
This regulation already brings great benefits to the real estate market. People who decide to take this path will be able to invest in properties and this will directly generate a constant flow of transactions.
Which areas lead in terms of the number of developments?
Within the City of Buenos Aires, a condominium in Palermo has an average price of US$3,624/m². This neighborhood concentrates 21% of the total demand for developments and, year-on-year, searches grew by 35%. In relation to supply, this neighborhood represents 12% of the total, 20% more than a year ago.On the other hand, Belgrano accounts for 12% of the demand , with a year-on-year growth of 35%. Also, 13% of the supply is concentrated there, 36% more than a year ago. The square meter of apartments in the pit is located at US$3308/m².
Belgrano accounts for 12% of the demand, with a year-on-year growth of 35% Daniel Basualdo
Caballito is positioned as the third neighborhood with the highest percentage, 11% of the demand is in this area, 71% more compared to August 2023. The supply, on the other hand, remains at 9%, without major changes over the last 12 months. The average price of a condominium in this area is US$2,775.
These three neighborhoods of CABA stand out for the variety of developments, with properties of one to four rooms with tickets starting at US$80,000 in the case of Palermo and Belgrano and from US$50,000 in the case of Caballito.
Which areas offer investment opportunities of up to US$100.00?
It is important to clarify that money laundering allows investment in all segments that the real estate market has to offer. Outside the Real Estate Projects Registry (REPI), the declared money can be used for the acquisition of finished properties and even those that are years old, as long as they do not exceed the limit of US$100,000.
Flores, one of the neighborhoods with the most affordable prices in the real estate market Soledad Aznarez - The Nation
Flores is located in the central axis of the City of Buenos Aires and is one of the neighborhoods with the most affordable prices, next to Caballito. A two-room apartment has an average price of US$99,921, while a studio apartment is priced at US$84,620.
San Nicolás is another option in this price range. It is located in the macro-centre of the city, which allows easy access to different points of Buenos Aires. A two-room apartment there costs US$95,630, while a studio apartment costs US$83,800.
In the southeastern region of CABA is Parque Patricios , a neighborhood that takes on great importance due to the variety of public parks that function as important green lungs. In this case, a two-room apartment has an average price of US$90,425, while a studio apartment is priced at US$79,530.
Balvanera , located in the central axis of the city, with easy access to downtown Buenos Aires, is another neighborhood that offers prices below the amount established to declare. A two-room apartment has an average price of US$88,785, while a studio apartment can be purchased for US$79,490.
Parque Patricios, a neighborhood that takes on great importance due to the variety of public parks that function as important green lungs Soledad Aznarez - The Nation
Lugano is the most affordable option in CABA. A two-room apartment has an average price of US$51,934. This neighborhood is located in the south of the city, with easy access to the Province of Buenos Aires.
In addition, Barracas, Agronomía and San Telmo also make up the list of affordable neighborhoods within the market , although their values slightly exceed the amount established in the regulations of the Asset Regularization Regime. These options have an average value of US$102,113, US$105,610 and US$108,592, respectively.
In short, money laundering is still a recent measure within the national economy and, although we cannot state with certainty the causes of the growth in the real estate market, at Zonaprop we remain awaiting the changes that both this measure and those already implemented by the Government will bring to the sector.
www.buysellba.com
