On a key day for the exchange market, the Retail dollar At Banco Nación, the First day without stocks at $ 1,230which represented a rise of 12% compared to the closing of Friday.
From this Monday, individuals can freely access the change of changes without amount of amount, both in person and through the digital channels of the banking entities. The end of the “exchange rate”, in force for years, represents a significant change in the country’s economic policy.
The end of the stocks was celebrated in different sectors of the economy. For example, Javier BolzicoPresident of the ASSOCIATION OF ARGENTINE BANKS (ADEBA)he described the stocks as “An aberration“And he said:” Having a single exchange rate is a positive signal for the economy. “
The real estate sector also celebrated the news. Is that, as they said, The unification of the exchange rate and the free access to the official dollar can modify the conditions of purchase and sale of propertiesboth in the residential and corporate segment.
The liberalization of the exchange market reconfigures reference prices for real estate operations, in a context in which the dollars in dollars had been distorted by the existence of multiple contributions. He Access to currencies to the official value could facilitate purchasing operationsalthough questions persist about the behavior of demand and stability of the new scheme.
The market is expected to react with caution In the first weeks, while buyers and vendors They adjust expectations before the new economic scenario.
Chau Copo: Real estate optimism
The release From the exchange rate for savers it was very anticipated news in the real estate sector. Alejandro Ginevra, president of the GNV Group, considered that the slope of the stocks is “Excellent news” And that, although the market expected it to be applied towards the end of the year, “it is a measure that we all knew that sooner or later it was going to arrive.”
“I understand that It is something beneficial, that brings us closer to a greater normality in the real estate sector“He said. He added:” These decisions contribute certainty and tranquillity. I hope the government continues in this line. “
Regarding the impact on the activity, Ginevra said that consumption and sales show signs of recovery, but there is still a lack of lag between the Costs of construction and sales prices: “I hope that during the year both begin to align. If that happens, we can have a good year for the market.”
The values In the last 18 months they rose strongly and currently in CABA a home does not fall from US $ 1,600 to build, at least with good terminations, in the premium they exceed US $ 2,300 per m2 for well.
Another key factor is the financingthat It could be expanded with the stocks of the stocks. Fernando Álvarez de Celis, of the Urban Fabric Foundation, said that the elimination of restrictions “would allow banks to have more resources and grant greater mortgage loans, which would boost the demand for properties.”
Stabilization in construction costs in the short and medium term is also expected, which could prevent these increases from continuing to the price of homes in development.
In addition, Álvarez de Celis said that “the value of real estate tends to grow in unrestricted contexts exchangesince these scenarios attract external investments and boost the economy. “
Property prices would rise up to 10%
Fabián Achával, CEO of Fabián Achával Properties and responsible for the real estate radar, described the lifting of the stocks as “excellent news for the real estate market for many reasons.”
He stressed that the definition of the new scheme of exchange bands -between $ 1,000 and $ 1,400- PLEASE recent uncertainties and eliminates restrictions on foreign tradewhich can encourage currency liquidation by the export sector. “That will generate more offer, greater market stability and the possibility of accumulating reserves, which provides economic predictability,” he said.
Achával considered that “it had long been known that the stock should be up IMPwhich, in your opinion, should be enough to stabilize the market.
With respect to the values of the properties, he said that “the effect will be gradual” and ratified its projection of a rise of up to 10% In the year. Even so, he warned that the market will need time to adapt to the new exchange rate regime and to evaluate how the band scheme will work.
More accessible loans
Finally, another market analyst, Daniel Bryn, of Zipcode and creator of the real estate monitor, he anticipated that CEPO lifting could reduce the cost of accessing a loan for housing purchase. “If the price of properties in dollars low, the need for financing by those who buy,” he said.
Experts also argue that we have to wait for value to open the dollar on Monday and continue as it will continue in the following days.
It is still key to analyze in detail the new scheme announced by Minister Caputo, but considers that the impact could be positive about the Mortgage credit that will no longer depend on the MEP dollar: “The use of standardized exchange rate will be vital for purchase operations With credit leverage, “Bryn concluded.
