Loans: what effects do they have on the real estate market

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The need to generate mortgage loans in a significant volume for total demand has been a pending matter in our country for some time. Specialists agree that it is a challenge that must be incorporated into the public agenda with high priority. Still, in 2022 there was some encouraging news in that area.

“Currently, in Córdoba there is a line of credit that shows dynamism and results on the sales measurements carried out by the Chamber of Real Estate Brokers of the Province of Córdoba (Cacic). This line is the Casa Bancor Credit, with the following distinctive features: a loan in pesos adjusted to UVA (Purchasing Value Unit) with a rate of 0 percent for the acquisition and/or construction of a single home, with a term 20-year financing and a process in the operation through its APPTO platform in conjunction with real estate, which allows a safe purchase to be made, reducing risks and terms in credit management ”,

Lucas Bergo, head of Cacic, stands out.

The evolution of mortgage loans in recent years according to Cacic’s records shows the passage of 25 percent of sales through credit in 2017 (recording the last operations in 2018, when high inflation complicated the operation) and without credits in the years following until the new records appear in 2022 through Bancor loans, which came to represent up to 5 percent of the volume of monthly operations in more recent months.

“We have positive expectations regarding the closing of last December; We hope that this number will be greater than 10 percent in the report that we will have in the coming days,” says Bergo.

This loan generated dynamism in the market and helped access to a first home for many families. In specific numbers, Bancor has already authorized more than 800 operations for more than 6,500 million pesos. More than 1,500 properties uploaded to the system by real estate agents were certified and the APPTO was published so that those looking for a new home can find those that have already been certified by Bancor.

“We hope that in 2023 the Bancor credit will continue and that since it is an elective year the issue of mortgage loans will be put on the agenda,” emphasizes the head of Cacic.

nuances

“In real terms, the loans did not distort the market, but it is true that now many properties were sold that had no other option and that in terms of image the loans generated a certain contagion in the desire to sell of some owners. The possibility of acquiring physical dollars and the lowering of the requirements for the property also pushed towards this movement, so the balance is clearly positive ”,

evaluates José Kandalaft, secretary of the Professional Association of Realtors (CPI).

In terms of expectations for this year, the tone is more moderate.

“2023 is going to be like every election year. We are going to have a normal behavior until the candidates for the elections are outlined. That will generate more movement or not, depending on who leads the candidacies. Some will bet on getting tickets, others will bet on the growth of the sector and others will protect themselves in bricks ”, concludes the manager.

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