Friday , December 3 2021

Mortgages: the triple already paying rent and desiring access & # 39; at least $ 130,000 per month – 12/06/2018



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little long. Loans adjustable inflation houses, known as "UVA mortgage", made from 2016 to the house itself, after many years, was again accessible to the middle class. There was a strong increase in purchases and thousands took advantage of it, most of them tenants attracted by the opportunity to pay their house in & # 39; 20 or 30 years with very similar allowances for had trouble hiring. But this year, with the crisis, the dream was again another & # 39; & # 39; very far. Now, in the City, to buy a small house have to pay triple the rent and the vast majority no longer qualify to receive credit.

The numbers are clear. By mid 2017, at the height of UVA system, families can & # 39; get the Banco Nacion to give 30 years to 80% of the value & # 39; environment & # 39; & # 39 two-bedroom; 43 m2 in & # 39; average sales, it showed a white entry $ 26 400 per month. Those loans had initial fee of & # 39; $ 6,750, 12% less for $ 7655 worth of property to rent equal.

S & # 39; happening now? To request credit must have the same economic position four & # 39; best times. The bank will ask to win $ 130,000 a month, And the fee starts at nearly $ 33 thousand. That is, almost triple the amount of & # 39; $ 11 826 paid today, on average, to rent a similar unit.

Moreover, this obstacle adding that the buyer must obtain at least 20% of the value of the bank jsellefx. For example unit saving & # 39; before, previously $ 367 000, it increased to $ 931 000. An amount equal to 79 Leased (previously, 48) or average salary of about 40 & # 39; employee Buenos Aires (previously 21).

The values ​​were calculated by Clar at the beginning of & # 39; this week – with $ 37.60- dollars, based on the latest data on sales values ​​and rental income released by the Department of Statistics the city, and on to customers who collect salaries in & # 39; that body.

The exercise shows that the phenomenon affects even those seeking to buy at least listed areas & # 39; Buenos Aires. If the 43 m2 used to be acquired for example in & # 39; Balvanera, the bank will require entry & # 39; $ 105,000, with an initial payment of & # 39; $ 26600. And if you notice a Liniers, you earn & # 39; to pay $ 98,000 payment & # 39; $ 24 800 a monthWhen rent is, cost $ 8069.

"The root cause is that the dollar went from $ 17 to nearly $ 40, and the dollar price of properties continued. Therefore, f & # 39; fees, houses were worth more than double", Alejandro explains Juan Bennazar, president of the Argentine Real estate Chamber.

According to official data, in fact, two medium-sized environments went from year to year from USD 105 400 to US $ 123 800. F & # 39; dollars, the increase was & # 39; 17%. But in pesos was 154%, When jumping from $ 1.834 million to $ 4.655 million. For room & # 39; & # 39 three rooms; 68 m2 in & # 39; average sales figure in pesos went from $ 2.792 million to $ 6.916 million.

This was a cause. The other was a sharp rise in interest rates on loans. At the beginning, in the Nation, inflation was 3.5% more, but beginning with today & # 39; 10%, Which helped to increase the quota amounts and income needs.

"Today almost anyone requiring 70% or 80% of the value is able to access loans. Do not qualify. Surely, fee & # 39; $ 30,000 is available to those families. Therefore, the sharp decline in demand" , considering Bennazar.

According to the Central Bank, the funds given in & # 39; mortgage & # 39; UVA in the country were 77% lower in & # 39; October than in & # 39; in March, when it reached a record & # 39; $ 13 937 million (or $ 322 615 per minute). In the City, according to the College of Notaries, a & # 39 operations, mortgage banking decreased by & # 39; 81.7% year on year in & # 39; in October, and the general level & # 39; case back to the minimum levels from 2013 to 2015 was "exchange rate".

The collapse was soon some banks have already dilute special areas they were created before the "barrage of folders" of last year. "Going even order 600-30 per month. Was marginal because the vast majority m & # 39; longer qualify. The UVA crashed "mortgages, they explain, reserve call, f & # 39; major bank.

Fewer people in real estate, and a profile of the new buyer.

Fewer people in real estate, and a profile of the new buyer. "The tenants, even closer". (Photo: Fernando de la Orden)

"Demand was reduced by & # 39; significantly", they admit, in turn, f & # 39; Manuel Río. "The combination of & # 39; rates and maturities, dollar relatively stable and not too satisfactory demand marked surge. These same characteristics have been affected by macroeconomic volatility & # 39; this year, but we expect that, b & # 39; greater stability, the market begins to react with & # 39; a positive way, "says Daniela Contarino, the area & # 39; Credits b & # 39; mortgage entity, 3 million (US $ 60,000).

One problem is that, in the new context, the maximum loan amounts were old. The Nation, for example, finance houses & # 39; more than $ 4.7 million. Today, in & # 39; most of the area of ​​& # 39; Buenos Aires, this is not enough for 3 rooms.

new credit, limited to those who are already owners

During 2017 and up to the first month & # 39; this year before the economic crisis, the real estate companies were invaditi a public used to not have: families & # 39; middle class, most tenants, in search of & # 39; properties to buy are covered by good part of the price. Devaluation by & # 39 ;, the change was strong.

According consulted brokers, these types of & # 39; not even consult customers, discouraged by the hardness conditions & # 39; access. And the few currently approaching to buy UVA credits are in the process, b & # 39; In general, people who are already owners. Owners who, for different reasons, They want to sell their current home and ask the bank just what they need to move to a larger home or f & # 39; most sought-after area.

F & # 39; Di Mitrio Inmobiliaria, focusing on San Telmo, La Boca, Mr. Catalina, and Monserrat Barraca, they remember that a year ago they attended about 1,000 inquiries each month & # 39; people interested in buying. But, say, f & # 39; recent months, that average dropped to about 400, and "profile & # 39; pedestrians is totally different."

"In 2017 almost everyone came to buy b & # 39; loan as & # 39; mortgage. They were people who rented and wanted to become owners. Today, on the other hand, we returned to have the real estate market without funding accessible. Y Consultations with & # 39; credit practically we should not. Those who buy it is someone who has accounts in his pocket, or people already owners who are looking to change 2 backgrounds to 3, or 3-4, "says Marcelo Di Mitrio, owner of the company.

Something similar is perceived Diego Migliorisi, managing partner & # 39; Migliorisi Propiedades, real estate company with & # 39; focus on Almagro, Parque Centenario, Palermo and Villa Crespo: "Up to 90% of & # 39; those attendewna tenants were asked 70 or 75% of the value of the property, how much they have. Today, however, people continue to buy on credit to get a much smaller portion of the cost, about 30%, and try to reach total Value f & # 39; other ways, b & # 39; much effort, selling car or borrowing from relatives"

Accessibility to housing was reduced in & # 39; blows in the City & # 39; Buenos Aires: prices in & # 39; dollars were held, and in & # 39; fees doubled. (Photo: Mario Quintero)

Accessibility to housing was reduced in & # 39; blows in the City & # 39; Buenos Aires: prices in & # 39; dollars were held, and in & # 39; fees doubled. (Photo: Mario Quintero)

"In the current conditions of the real estate market, and b & # 39; rates & # 39; so high interest, loans b & # 39; UVA mortgage was limited to people & # 39; middle class middle to cover only 20 or 30% of property value ". Juan Alejandro Bennazar points, the Argentine Real Estate Chamber.

Brokers believe that accessibility to housing will remain & # 39; limited while retailers continues to refuse to reduce prices in & # 39; dollars of properties. But they consider that in 2019, if the economy "recovers", the moderate inflation and wages restored, something most people can qualify and buy. By the Government and the public banking sector, the best bet would be the launch of & # 39; mortgage that allows buy "from the collection" acceding to price in & # 39; dollars up to 30%.

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