The implementation of divisible mortgages recently announced by the Government has generated notable optimism among players in the real estate and construction sectors in Argentina. This measure is seen as a key opportunity to revitalize a market that has faced years of instability.
At an event organized by the Mortgage Bank, representatives from leading companies such as IRSA, CRIBA, and ILVA S.A. discussed the implications of this policy and the growth prospects towards 2025. Divisible mortgages will allow financing of different stages of real estate projects, facilitating access to credit for both developers and end users.
"This, combined with the increase in mortgage loans, should boost real estate development and the rise in property values," experts stated. However, they also anticipate that prices will continue to rise, in line with growing demand and the need for greater housing infrastructure. One of the critical points debated was the high tax burden affecting the sector.
According to Santiago Tarasido, a representative of CRIBA, the current focus is on competitiveness, as taxes represent 45% of the total cost of properties in Argentina. In comparison to neighboring countries like Uruguay, where these taxes are considerably lower, the tax pressure hinders competitiveness in the local market.
Alejandro Renghini from ILVA S.A. explained that the application of taxes in the construction chain impacts 14% on the final price of properties. On the other hand, the challenge posed by labor costs and competition with imported products directly affects the costs of the national industry.
In summary, the panelists agreed that it is essential to reduce taxes to enhance the competitiveness of the sector and make the most of the opportunities brought by divisible mortgages.
