Armando Pepea recognized expert in the real estate market with a track record of 50 years pointed out that the current situation in the sector is “ worst crisis ever witnessed“. The lack of or offer of homes for sale led to an avalanche of rental properties, unprecedented in history. The alarming thing is that many owners have chosen to invest in furnishing and equipping their homes, allocating them to temporary rental, even for the national public.
The former president of College of Real Estate Brokers argues that this crisis It is not limited only to the economic sphere, but it focuses especially on the field of rentals. “The need and desperation of people to move and the impossibility of finding available properties”reached alarming levels“.
The leader warns that the State seems to have no intention of taking action on it. According to him, in a recent meeting with the president’s lawyers Alberto Fernandez and the leader of the Minister of Economy, Sergio Massait was proposed to repeal the Rental Law through a Decree of Necessity and Urgency (DNU), arguing that it was a poor law. This proposal surprised Pepe, since a law that has been approved by both houses of Congress cannot be repealed by decree. However, it considers that it is possible to modify or repeal the law through the corresponding legislative process. The words of the leader come from an interview with the program “Best bidder” of Radio with you
The solution proposed by the sector
As for the possible solutions, Pepe points out that it is necessary to return to the Civil and Commercial Codewhich stipulates housing contracts for 24 months with semi-annual adjustments agreed between the parties. This proposal has been supported by the country’s main entities related to the real estate market. However, it regrets that this request is inn a state of paralysis in Congresssince there seems to be a “lack of political will” to address the issue.
In addition, Pepe targeted politicians and decision makers, arguing that his main concern seems to be his position in the next elections, instead of the situation of the people. This reinforces the feeling of abandonment by the political class towards the citizens affected by the crisis in the real estate market.
Given the critical situation that the sector is going through, a proposal was presented to compete effectively withAgainst the boom in temporary rentals. The plan consists of the implementation of a construction program for social interest housing, inspired by the successful Uruguayan legislation that has been improved throughout the governments. However, this initiative did not receive adequate attention from the previous government and, up to now, it has not been possible to arrange a meeting with current government officials.
In addition, the leader of the sector points out the difficulty to meet with current government officialswhich hinders the possibility of advancing in the implementation of this strategy to compete against temporary rentals. The lack of dialogue and interest on the part of policy makers negatively affects citizens who are in dire straits due to a shortage of available housing.
Finally, the delay in urban projects is highlighted. In Buenos Aires city as a clear example of the lack of progress in the real estate sector. The plans presented in 2018 are still in process, which reflects the lack of dynamism and the need to take urgent measures to reactivate the market and provide housing solutions to the population.
Source: Ambito
