in The northern region of Greater Buenos AiresTigre is undoubtedly one of the places that has expanded the most in the last 20 years, and, inside this Rowers Road area It ceased to be the “back door” of the municipality to become Steps to the accelerating urbanization corridor of Nordelta.
But despite its growth, The region is not immune to the reality that today affects the entire real estate market.: the Mortgage loans in a time of uncertainty. The financial system has not yet been able to promote stable interest rates, entities move back and forth within weeks in their decisions, and banks continue to adjust their lines after the election result. The request still exists, but it awaits clear rules.
Who finances housing when banks can’t? As long as credit does not find a final trend, Private financing gains land As a temporary response to a structural problem.
Today it occupies only the traditional financial system 0.2% of GDP (GDP) in real estate loans. It’s a This is a very low number even for the region. In Uruguay, Chile or Brazil, credit is the driving force for housing. Here, that engine is stopped, But the demand is there.
“Real estate credit will be the missing piece to stimulate a new upturn, especially in areas like Tigre, where land is still sold at reasonable values and the impact on the final cost is lower than in the city of Buenos Aires,” said a meeting in Remros Brickell, where developers, brokers and analysts discussed the current real estate market situation.
Diego Cazes, general manager of LJ Ramos, was frank: “When credit returns, The used housing will be the first to react. This first rebound drags the rest of the market down.
“Once interest rates return to normal and banks trust the buyer, User value will rise This would drive new units. “People will be looking for a zero kilometer that allows them to gain value over time,” he said. He even expected it The construction price and sales value will “match,” Which leaves a clear window for him: purchasing with financing now can make an economic difference in a few years.
For his part, Marcelo Orfila, Narváez Desarrolos’ director, raised another key point: “A mortgage loan is not only necessary for the buyer but also for the developer.”. If banking entities again compete for lending, the system will cease to be artisanal and will resume its central role. “The United States works this way because everything is bought on credit. Argentina has huge potential if it can stabilize its economy and strengthen institutions,” he explained.
Meanwhile, Martin Boquete, Toribio Achaval’s manager, pointed this out While UVA credits are booming, Under the presidency of Mauricio Macri, 20% of used housing transactions were made on credit. “Everyone who could afford to buy. The square meter buyer is an excellent payer“, he said. He also pointed to the impact of new regulations that allow purchase-sale ticket mortgages (so-called “divisible mortgages”): an advance that guarantees traceability, avoids double sales and gives legal security to the buyer.
During the presentation, the recent decree of the Tigray Deliberative Council that places temporary restrictions on building heights with the aim of regulating urban growth was also addressed. Participants stressed the importance It has clear and predictable regulatory frameworks that accompany the responsible development of the city.
In this sense, they indicated that this measure It does not affect projects that have already been approved or those currently under construction They stress that initiatives like the one in Brickell are part of a model of sustainable growth, concern for the environment, integration with nature and positive impact on society.
Although bank credit remains disrupted, The market has not stopped. Rather, it was converted. Private finance began to occupy a place that it had not occupied historically.
Daniel Zelder, partner at Brickell Developers, puts it this way: “Developers are taking on a role previously reserved for banks. We are not seeking to replace the financial system, but Finding real solutions so that more people can access housing. “This boosts the economy as well.”
From here, The company has a 60% zero premium modelWith a 30% down payment for one of the buildings in the Remros Brickell project. “It’s not a 20-year loan, but it allows you to get there. It’s paid as you work and part of the final installments can be covered by rent,” the developer explained.
The project consists of Closed neighborhood on the riseWith 300 units of one to three rooms with balcony, prices starting from 2000 US dollars per square meter,access $2,700 on upper floorswith total tickets starting from 78,600 USD, For studio apartments, 105,700 US dollarsthe two environments, and 154,000 US dollarsthose who have three rooms. There are three buildings connected to each other by pedestrian walkways, courtyards and green areas, with a beach-like swimming pool as a differentiation. In addition to the towers, the project has “tiny houses” on the ground floor with their own garden, a hybrid format between PH and apartment.
Although this proposal belongs to a specific development, the mediators who market the project sections agreed on this The phenomenon is generalDirect financing is no longer marginal and has become a crucial tool for closing operations. he Argentine buyercharacterized by decades of inflation and volatility, Always looking for bricksBut today you need a bridge between your current income and the value of the property.
Another example, which also falls on the rowers’ path, is rowers, A new private district with investments amounting to 60 million US dollars. It consists of 166 plots of land ranging in size from 600 to 1000 square metersof which 120 are available with average values of US$365 per square meter for perimeter lots, US$414 for interior lots, and US$542 per square meter for lake-facing land. In this case, the payment method offered by Narvaez Company – which works to develop and market the neighborhood – is – Financing 65% of the total value in 36 installments.
“Lingara has a soul. It has a train, it has a river, it has a scale. This generates roots,” Zelder said, in a seemingly simple observation that sums up the history of many cities that have grown at the pace of their connectivity.