Days ago, the national government decreed the implementation of the “divisible mortgage” figure to encourage the granting of loans for real estate development, taking as collateral the future functional units to be built, that is, in wells.
This measure is very important because, when the banks develop the offers for this line of credit, it will allow mortgage financing to begin from the signing of the purchase and sale ticket.
Currently, mortgages for new developments can only be made from the cadastral division, which depending on the jurisdiction can take between 1 and 2 years from the end of the work.
Once banks offer these lines, buyers with a ticket will be able to obtain a loan to pay off the balance of that purchaseas long as the development has approved plans and is free of other encumbrances.
Decree 1017/2024 It is essential if one takes into account that in Argentina there are around 1 and a half million properties without deeds, which cannot currently be subject to mortgage credit.
For real estate companies it is also a way to promote more developments: at Spazios, around 90% of our clients inquire about purchases with long-term financingand they already agree to acquire their apartments from the well, with installments in pesos and for 30 years.
In this sense, the advancement of bank financing, if materialized, will expand the options of our clients, who will be able to choose between continuing with the financing of the company or processing a mortgage with the bank of their choice.
For all this, the implementation of the divisible mortgage and access to mortgage loans from the beginning of real estate projects represent a unique opportunity to strengthen the market, promote financial inclusion and facilitate the path to home ownership.
As a developer committed to excellence and innovation, we are excited by the transformative potential of these measures and we are prepared to continue accompanying our clients in every step of the process of acquiring their new home.
*Sebastián Loggio is a financial advisor to the developer Spazios
by Sebastian Loggio
