Thursday, November 14News That Matters

What to expect within the Argentine realty sector for this year.

Ruben Rojkes, knowledgeable Argentinian construction Engineer.

Argentina incorporates a housing deficit of about 3 million homes. This deficit will increase at a rate of roughly thirty six,000 homes per year. In addition, of 12.2 million total households, 16 percent correspond to rental housing, that is corresponding to about a pair of million families.

When the normalization of the foreign exchange market in 2015, there was a push in construction and therefore the mortgage sector in Argentina, but soon when, in 2018, the indicators of the residential construction sector contracted once more significantly, with investment in infrastructure because of the impact of the exchange rate and the necessity for fiscal adjustment.

Much has been said concerning the crisis in the $64000 estate sector in Argentina in recent years, these days we tend to talk with engineer Ruben Rojkés, founder of Avanco, a true estate developer with twenty five years of expertise within the Argentine market; who will share with us his vision for Tucumán.

The residential sector, that had boomed lately, has suffered from Argentina’s money crisis throughout the last years, as well as from the high inflation currently existing in the country. Inflation in particular is increasingly becoming the main concern for developers facing new assets projects. As a results of a rise in the price of land and in the cost of construction, investment in the residential sector has considerably decreased over the past months.

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

In keeping with the newest data provided by the Association of Notaries Public of the Town of Buenos Aires, the full amount of property purchase and sale deeds registered in the tenth month of 2018 a decrease of 40.7% from the level of one year before , when adding 3,669 records, while the overall quantity of transactions made grew 18.five% to $ seventeen,728 million.

Regarding expectations, Ruben Rojkés, like many different entrepreneurs in the important estate sector, agrees that the elections will have a nice impact on the economy and thus have an immediate impact on the important estate market.