The government of Argentina has implemented a new regulation on mortgages through Decree of Necessity and Urgency (DNU) 1017/2024, published in the Official Bulletin. This measure aims primarily to make mortgage credit more accessible and facilitate the financing of real estate developments. The goal is to encourage the construction of housing and reduce the housing deficit that affects a significant part of the population.
One of the main innovations of this provision is the possibility for those purchasing units under construction to choose whether to take out insurance or not, granting greater flexibility and autonomy to the parties in each contract. Furthermore, the regulation introduces divisible mortgages and relaxes guarantees to promote access to mortgage credit and revitalize the real estate market.
These measures are expected to boost employment in the construction sector by generating demand for new projects and housing. Additionally, the new regulation is anticipated to lead to a greater supply of properties for both purchase and rent, contributing to a decrease in the prices of available units in the market.
DNU 1017/2024 represents a significant advance in access to housing in Argentina by providing legal security for the pre-sales of real estate units through a registry that legally guarantees and backs these contracts, protecting the rights of buyers. In a favorable economic context, with reduced inflation, stabilization of the exchange rate, and job growth, these measures aim to stimulate consumption, investment, and job creation.
Moreover, the new regulation allows the use of the real right of superficies as a mortgage guarantee and establishes the possibility of registering purchase agreements for future units, including those that have not yet been constructed. These reforms, together with the implementation of divisible mortgages, are expected to drive the real estate market and facilitate access to mortgage credit, providing more opportunities for those wishing to acquire their own home.
