“The market was reassembled,” he said at a conference at the University of Miami where he defended Javier Milei’s economic policy.
The presidential advisor in the shadows and author of the omnibus law and the mega DNU, Federico Sturzenegger, participated in a conference at the University of Miami, where he stated that after the repeal of the rental law, prices in that market fell by 20%.
“What was done in the DNU was to give a freedom shock. We did this with a change in the contract part of the Civil and Commercial Code, which is one of the mother legal structures of Argentina, in particular an article called 958, which basically says that the application of the code to purposes of the contracts it will be supplementary. What this means is that the will of the parties prevails“said the economist, when explaining to an audience about Milei’s economic plan.
“Suddenly it is free for people to make the contract for as long as they want, with the currency they want, with the indexation clause they want and In the 3 or 4 weeks after the issuance of the DNU, rental prices fell by 20%, properties reappeared and the market was rebuilt“, he expressed.
Rentals: historic monthly rise in January
Sturzenegger’s statements abroad contradict the measurements made in the country. Although, after the deregulation of prices there was an increase in supply, During January, rents recorded a historic monthly increase.
In January 2024the supply of apartments for rent grew by 62% with respect to December 2023. Regarding this indicator, the report Zonaprop He highlighted that “since the end of the pandemic, the Rental offer in CABA systematically decreased and reached an all-time low in February 2023.”
Market specialists attribute it to previous drop in the supply of rental apartmentsto the regulation of rental contractsthrough the Law No. 27,551, promulgated on June 30, 2020.
Meanwhile, since Grouped Tenants they launched a survey through which it was known that the contractual conditions were tightened. Among the most notable, the tenants who responded stated that 51% of the contracts signed are for a period of one year or less, although the increases are still mostly for 6 months.
Sturzenegger’s complete lecture
Source: Ambito
