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Real estate market signs that anticipate that 2025 will be the year of developers and their projects - La Nacion Propiedades
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Las señales del mercado inmobiliario que anticipan que el 2025 será el año de los desarrolladores y sus proyectos
De acuerdo a los desarrolladores, las herramientas financieras y las alianzas estratégicas jugarán un rol clave en el desarrollo inmobiliario en Argentina
www.lanacion.com.ar
August 14, 2024
According to developers, financial tools and strategic alliances will play a key role in real estate development in Argentina.
The future of real estate developers in an economic context of transition in Argentina
“The one who has new problems matures, not the one who always repeats the same dilemmas .” With this quote from Argentine philosopher Santiago Kovadloff, Issel Kiperszmid, CEO of Dypsa International, opened her presentation this Wednesday at the Real Estate Expo 2024 , highlighting the emerging challenges for real estate developers in an economic context of transition in Argentina.
“In March I said that this year was going to be the year of real estate companies, but next year it will be the year of developers ,” Kiperszmid said, anticipating a 2025 marked by more reasonable inflation and the reactivation of mortgage loans . The developer also took advantage of his presentation to announce that he will launch 360 homes in middle-class sectors with 800 m² plots and 20-year financing. “ The Argentina that is coming will create new challenges for us ,” he said hopefully.
The emergence of mortgage loans surprised the sector
During the panel: “ New tools for real estate developments ”, moderated by Damián Tabakman, president of the Chamber of Urban Developers (CEDU), the perspectives and trends that are reconfiguring the sector were discussed.
In this regard, Gustavo Menayed, CEO of Grupo Portland, highlighted the importance of strategic partnerships and the fundamental role of banks in the commercialization of projects. “The real estate market is so broad that there is no single formula. The bank ends up being the largest commercial manager of the projects , because it is the one that allows the end consumer to access their home,” he stressed. Despite this, he criticized the lack of a more robust banking structure that allows broader access to financing , something that, in his opinion, should evolve to sustain the growth of the sector.
Along the same lines, Daniel Mintzer, partner at G&D Developers, highlighted the impact of money laundering as a positive climate change for developers . “It is not perfect, but it is a time to take advantage of opportunities,” he said, acknowledging that money laundering , although limited in time, “ marks a change in climate.”
Real estate market outlook for the future
The second panel, titled “ Prospects and trends of the real estate market to come ,” offered a broader overview of future expectations. In this case, Gonzalo de la Serna, CEO of Consultatio, took the opportunity to give the scoop that LA NACION had already reported : he revealed that Eduardo Costantini’s developer, in association with Banco Hipotecario , achieved what until recently seemed impossible: the possibility of acquiring apartments under construction with a 30-year mortgage loan .“It is a milestone for a real estate market that, until now, did not have this long-term financing option,” said the speaker, highlighting the importance of working as a team to develop new financial tools that can be replicated in other projects.
According to developers, money laundering generated good expectations in the sector
Santiago Tarasido, CEO of Criba, took the opportunity to announce that they are working on merging CEDU and AEV (Housing Business Association), in an effort to unify and strengthen the sector. “We could multiply construction jobs by four or eight if we adopt more efficient policies and if we manage to make mortgage loans represent a higher percentage of GDP - it is currently 0.5% - as in other countries in the region, in Colombia it is 6.5%, 12 times more, and in Brazil it is 25%, 25 times more,” he said, highlighting the growth potential of the sector in Argentina. He also took the opportunity to say that the developer currently has 30 projects underway and highlighted the Cipriani project in Punta del Este, which had an investment of US$400 million.
Meanwhile, Patricio Lanusse, partner and director of Institutional Relations at Eidico, referred to money laundering and highlighted that this measure generated new opportunities in the market, especially in suburban areas and land developments . “This year we see less activity, but our projects are long-term. We are exploring new areas and land, and we believe that the credit could also be applied to vertical well development,” explained Lanusse, and mentioned the possibility of creating an investment vehicle of its own to finance future developments.
For Carlos Spina, director of Argencon, last year temporary rentals were the most prominent segment of the market . “The company insisted that, although it was an important part, it did not represent the market as a whole, since it was inflated by the exchange rate gap and the rental law,” he said. In a shorter time than expected, both issues have decreased or disappeared, making temporary rentals less attractive . “Now, we are seeing a return of products aimed at the end user. The combination of this with money laundering and mortgage credit can act as an important driver to consider larger units in new neighborhoods, which will undoubtedly boost the market,” he insisted. And he added that we must work to face these moments of changing variables, “just as we have worked in the meeting we had yesterday with the City Government, raising our concerns and disagreement about the suspension of new urban planning permits,” he concluded.
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