Lucas Pendola He began by noting that the market suffered widespread paralysis for about 60 days, specifically because of the elections. A combination of “fear, speculation and uncertainty” was observed.“, noted the head of the CPI.
After October 26, there was a sense of revival in the consultationsThis indicates that “customers are starting to become active again,” he said. However, many of the inquiries they currently receive have a new factor: late payments.
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For the president College of Professional Realtors (CPI) “There are people who cannot afford rent with a contractual obligation. Delay in paying overhead expenses has also been measured.”
Despite everything, there’s a striking fact that should help boost faltering rentals: Today, apartment rent is “20% lower than in December 2023,” the broker notes in a new chapter of the book Point-to-point business flow.
Bendola emphasizes that when talking about rent, one should not only take into account its net value, but also take into account ancillary expenses: expenses, municipal and regional taxes, and services.
If we imagine the rental market situation described by Lukas Pendola, it is like a car trying to move forward, but they put a very heavy trailer on it: the mover (the tenant’s salary) is always running behind, while the trailer (supplementary expenses) doubles its weight, causing more delinquencies, even when the base rental price falls.
Historically, the impact of “additional costs” ranged between 25% and 35% of the total rental amount, and today in some cases “these add-ons represent 100%,” and in some cases they can equal the rental value.
After a difficult year, developers are excited and betting on a more certain outlook for 2026
According to the head of the Consumer Price Index, the main reason for late payment is “that people face difficulties in fulfilling their contractual obligations because their salaries are always late and because the real estate market is not immune to the country’s economic situation. These two factors (delayed salary and increased supplementary expenses) are the main reasons for the increase in late payment.”
In the latest monthly report issued by the Center for Real Estate Statistics (CEI) of the Professional Association of Real Estate Agents of Cordoba, there are 7.9% of commercial tenants who did not pay their rent on time.
Real estate purchases and sales also decreased by 34.8%, and rents decreased by 55%.
Changes in tenant behavior and prices
Bendola described how economic changes have changed the way renters search for housing:
* Shared housing: “Today we see that families are gathering together in one house or that students who previously chose to live alone must now live with friends, siblings or family members.”
* Malone Estudiantes has disappeared: “The traditional huge group of students that arrived at the end of the year (November, December and January are the strong months) is no longer there. This is because many courses have gone virtual, allowing many families to choose their children to study remotely and stay in their hometown.”
* Neighborhood trend: “Students who arrive are choosing cheaper neighborhoods to ease their pockets, which represents a boom in relation to the historical prosperity of Nueva Cordoba. They are choosing nearby neighborhoods such as General Paz, Covico, Alberde, and Barrio Jardin.”
Tourist season: “Safe rentals”
As the President of the Professional Association of Real Estate Brokers always emphasizes, we must work hard so that the public gives the necessary importance to “always seeking the help of a real estate broker, who will have more tools to manage conflicts.”
For this reason, the “Safe Rental” initiative is being promoted, a pre-summer initiative. These are agreements with various tourist valleys in Córdoba (Tralasera, Calamochita and Bonilla, among others). This initiative seeks to raise awareness among tourists so that they can carry out seasonal operations with certified professionals.
Each municipality, in cooperation with the CPI, will encourage visitors to avoid contracting on public roads or via networks, and in this way tourists can be protected from falling into the traps of “anything improvised with the intention of criminal devices”.
“If the tourist gets scammed, the real estate brokerage will look bad, the province will look bad, and we as residents of Cordoba will look bad,” Pendola warned. He believes Córdoba is poised to compete at the South American level, being selected for sporting and cultural events, and is committed to defending the brand until the last day of his administration.
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