Ruben Rojkes, expert Argentinian construction Engineer.
Argentina features a housing deficit of about three million homes. This deficit will increase at a rate of approximately thirty six,000 homes per year. In addition, of 12.two million total households, 16 p.c correspond to rental housing, that is such as regarding a pair of million families.
Once 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 symptoms of the residential construction sector contracted again significantly, plus investment in infrastructure due to the impact of the exchange rate and the need for fiscal adjustment.
Much has been said regarding the crisis in the real estate sector in Argentina in recent times, these days we tend to talk with engineer Ruben Rojkés, founding father of Avanco, a real estate developer with twenty five years of expertise within the Argentine market; who will share with us his vision for Tucumán.
The residential sector, which had boomed in recent years, has suffered from Argentina’s monetary crisis throughout the last years, furthermore from the high inflation currently existing in the country. Inflation in particular is increasingly becoming the main concern for developers facing new real estate projects. As a result of a rise in the price of land and in the value of construction, investment within the residential sector has considerably decreased over the past 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 dearth of financing for the middle class sectors, which is a chronic downside of the country”.
According to the most recent data provided by the Association of Notaries Public of the Town of Buenos Aires, the total quantity of property purchase and sale deeds registered in the tenth month of 2018 a decrease of 40.7% from the level of one year before , when adding 3,669 records, whereas the entire amount of transactions made grew 18.five% to $ seventeen,728 million.
Regarding expectations, Ruben Rojkés, like many different entrepreneurs in the $64000 estate sector, agrees that the elections will have a nice impact on the economy and so have an instantaneous impact on the $64000 estate market.