What to expect within the Argentine real estate sector for this year.

Ruben Rojkes, expert Argentinian construction Engineer.

Argentina contains a housing deficit of about three million homes. This deficit increases at a rate of roughly 36,000 homes per year. In addition, of 12.2 million total households, 16 p.c correspond to rental housing, that is akin to concerning two million families.

After the normalization of the foreign exchange market in 2015, there was a push in construction and the mortgage sector in Argentina, however soon after, in 2018, the indicators of the residential construction sector contracted once more considerably, in addition to investment in infrastructure due to the impact of the exchange rate and the requirement for fiscal adjustment.

Abundant has been said about the crisis in the important estate sector in Argentina in recent times, these days we have a tendency to talk with engineer Ruben Rojkés, founder of Avanco, a true estate developer with 25 years of expertise within the Argentine market; who can share with us his vision for Tucumán.

The residential sector, which had boomed in recent years, has suffered from Argentina’s money crisis during the last years, along with from the high inflation currently existing within the country. Inflation in explicit is increasingly changing into the main concern for developers facing new assets projects. As a result of an increase in the price of land and in the value of construction, investment within the residential sector has significantly decreased over the past months.

During this regard, Rojkés tells us that whereas families grow, young folks become freelance and demand moves, they all face the identical downside: “the dearth of financing for the center category sectors, which may be a chronic downside of the country”.

In line with the most recent data provided by the Association of Notaries Public of the Town of Buenos Aires, the full quantity of property purchase and sale deeds registered within the tenth month of 2018 a decrease of 40.7% from the amount of 1 year before , when adding three,669 records, while the overall amount of transactions made grew 18.5% to $ seventeen,728 million.

Regarding expectations, Ruben Rojkés, like several different entrepreneurs in the real estate sector, agrees that the elections can have a nice impact on the economy and so have an instantaneous impact on the $64000 estate market.