As part of the process of upgrading and selling properties deemed non-essential to the functioning of the nation-state, the government of President Javier Milei has just put up for auction a number of properties from the previous Procrear program.
This is the Housing Access Plan, launched during the administration of Cristina Fernández de Kirchner and later reformulated by various administrations.
The original initiative included government-backed mortgage loans and the construction of new urban developments in various cities across the country.
In fact, the properties now for sale are part of what was considered Argentina’s main housing policy tool for a decade, the dismantling of which was officially announced by the Libertarian government last November.
This month, national authorities terminated the trust fund that supported Procrear, marking a paradigm shift in access to housing: from a model with direct state management to one driven by the private sector and asset auctions.
The government auctions the last land of the Procrear plan: “Buenos Aires Station”
With Decree 1018/2024, the executive ordered the closure of the fund, citing “administrative difficulties” and alleged inefficiency in the allocation of funds, and gave the Ministry of Economy responsibility for the liquidation of the remaining assets and the management of ongoing works.
The organization that leads Luis Caputo ordered the Ministry of Public Works the sale of the properties that were part of the program and were not built or were left halfway through.
A clear example is the property of the Buenos Aires train station (Av. Suárez 3420) in Barracas, which was auctioned with a base value of almost $3 million, in a process that did not attract investment and was led by the State Asset Administration Agency (AABE).
Now the management was responsible for the public works under Resolution 498/2025, published in the Official Gazette of the Nation on Friday, December 19, which sets out the technical specifications of the process for this plot of land with an area of 2,903.77 m².
The complex consists of 2,476 residential units that have already been handed over and was developed on disused railway land in a strategic area in the south of the city.
This is the last vacant lot on this property, a few meters from Avenida Amancio Alcorta and a few blocks from Avenida Vélez Sársfield, near Club Atlético Huracán’s Tomás Ducó Stadium.
In addition, it is within easy reach of the Constitución and Caseros stations on the H subway line, which increases the real estate value of the area.
The base value for the auction
The rule explains that the national authorities have determined that it is not advisable to proceed with the urban developments of the former Procrear “which were the subject of working leases and were partially implemented during the validity of the public trust fund”.
The National Assessment Tribunal issued a report on November 28 in which it found the value of the property is $4.5 million or the equivalent of $3.3 million.
In the case of the base sale value, this was reduced to US$4,050 million or US$2.9 million, with an exchange rate of BNA$/$1,360 and a BCRA$/UVI price of 1,171.99.
Following this procedure, the Ministry of Public Works approved the public auction procedure for the sale of this property, which is the property of the National State.
On the other hand, and for those who already have a current Procreatar loan: In principle, it was stipulated that these signed mutual mortgage agreements would continue under the conditions agreed with the mortgage bank.Company that acted as trustee.
Projects with a low level of progress are the ones most affected, as many of these properties go to auction based on the official notion that their sale would allow for a “cleaning up of public finances” and that the private sector would be more efficient in completing the houses.
How to take part
In this framework, resolutions have begun to be published allowing the sale of tax properties related to Procrear as part of the liquidation process of its assets.
Other properties of the former Procrear to be auctioned include properties in Buenos Aires, Paraná and Santa Fe, approved by resolutions 498, 499 and 500/2025, also published this Friday in the Official Gazette.
In all cases The process is carried out digitally and follows the transparency guidelines for state assets. via the official auction portal (SUBAST.AR orcompra.gob.ar).
Interested parties must be registered in the system, provide an offer guarantee (usually 5% of the basic value) and comply with the terms and conditions.
As the property is located in an urban renewal area, mixed-use developments with housing, commercial space and services are possible, which can be integrated into the existing Buenos Aires train station building complex.
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