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

Ruben Rojkes, professional Argentinian construction Engineer.

Argentina includes a housing deficit of concerning three million homes. This deficit increases at a rate of approximately 36,000 homes per year. Additionally, of 12.a pair of million total households, 16 p.c correspond to rental housing, that is cherish regarding two million families.

When the normalization of the foreign exchange market in 2015, there was a push in construction and the mortgage sector in Argentina, however soon once, in 2018, the indicators of the residential construction sector contracted again significantly, plus investment in infrastructure thanks to the impact of the exchange rate and the requirement for fiscal adjustment.

Much has been said concerning the crisis in the important estate sector in Argentina lately, nowadays we tend to talk with engineer Ruben Rojkés, founding father of Avanco, a true estate developer with twenty five years of expertise in the Argentine market; who can share with us his vision for Tucumán.

The residential sector, that had boomed lately, has suffered from Argentina’s monetary crisis throughout the last years, as well as from the high inflation currently existing in the country. Inflation in explicit is increasingly becoming the main concern for developers facing new realty projects. As a result of an increase in the value of land and in the value of construction, investment in the residential sector has considerably decreased over the last months.

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

In keeping with the latest data provided by the Association of Notaries Public of the City of Buenos Aires, the entire quantity of property purchase and sale deeds registered in the tenth month of 2018 a decrease of 40.seven% from the level of one year before , when adding three,669 records, whereas the entire quantity of transactions made grew 18.5% to $ 17,728 million.

With regard to expectations, Ruben Rojkés, like many different entrepreneurs in the real estate sector, agrees that the elections can have a great impact on the economy and so have an immediate impact on the real estate market.