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

Ruben Rojkes, skilled Argentinian construction Engineer.

Argentina contains a housing deficit of regarding 3 million homes. This deficit will increase at a rate of approximately thirty six,000 homes per year. Additionally, of 12.a pair of million total households, sixteen p.c correspond to rental housing, that is such as concerning 2 million families.

After the normalization of the foreign exchange market in 2015, there was a push in construction and the mortgage sector in Argentina, however soon after, in 2018, the symptoms of the residential construction sector contracted again considerably, along with investment in infrastructure due to the impact of the exchange rate and the need for fiscal adjustment.

A lot of has been said regarding the crisis in the real 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 25 years of experience in the Argentine market; who can share with us his vision for Tucumán.

The residential sector, that had boomed in recent years, has suffered from Argentina’s monetary crisis throughout the last years, plus from the high inflation currently existing within the country. Inflation in particular is increasingly becoming the main concern for developers facing new property projects. As a results of a rise in the worth of land and in the value of construction, investment in the residential sector has considerably decreased over the past months.

During this regard, Rojkés tells us that while families grow, young individuals become freelance and demand moves, all of them face the same problem: “the shortage of financing for the center class sectors, that is a chronic downside of the country”.

Per the most recent knowledge provided by the Association of Notaries Public of the Town of Buenos Aires, the overall quantity of property purchase and sale deeds registered within the tenth month of 2018 a decrease of 40.7% from the extent of one year before , when adding 3,669 records, whereas the full amount of transactions made grew 18.5% to $ seventeen,728 million.

Regarding expectations, Ruben Rojkés, like several other entrepreneurs in the $64000 estate sector, agrees that the elections can have a great impact on the economy and therefore have an instantaneous impact on the important estate market.

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