The expenses rose 5% in December -according to a survey of Octopus PropTech-, an increase that almost doubled the inflation projected for the last month of the year, which would be in the order of 2.7% according to the last Survey of Market Expectations (REM). Thus, common expenses in buildings accumulated an increase of 166.7% in 2024, while the Consumer Price Index is expected to close with an increase of 117.8%.
The average December value of expenses for households was $177,682according to the survey of the platform Octopus PropTech.
This figure reflects the average of all the consortium’s expenses: salaries, service payments, purchases, public services, security, cleaning, maintenance, professional feesamong other costs.
Expenses: why did they increase so much during 2024?
The increases in expenses were very aggressive, but “did not bring surprises,” the report states, because the behavior was in line with what was expected, considering both the annual projections and the macroeconomic context. Even so, they were located 48.9 percentage points above inflation projected for the entire year (117.8%).
Regarding the salary adjustmentsa trend consistent with previous years is observed, with peaks in January, June and July due to the payment of bonuses, and another in May due to joint agreements.
In relation to the public servicesa continuous increase is recorded during 2024. While, from May to November, a increasing incidence on the value of the expensewith a peak in October 19%.
“The December fall (in the incidence of public services within expenses) It is explained by the seasonality in gas consumptiona trend that will continue in January. The boilers, for the most part, are used during the winter, with some continuity in spring, but they register a notable decrease in summer. This contrasts with electricity, whose greatest consumption comes from air conditioners, which are usually specific to each unit and do not impact the general consumption of the consortium,” he analyzed. Nicolas Baccigalupo CEO & Founder of Octopus Proptech.
arrears of expenses
In 2024, a growth in arrears in the payment of expenses was also observed, hand in hand with the increase and stagnation of salaries in the first semester. “Many families, when adjusting their budget, are forced to stop paying 100% of the expenses,” said Baccigalupo.
“This phenomenon is particularly evident when extraordinary expenses arise, which represent unforeseen expenses. In contexts where the family economy is very tight, facing an additional expense becomes especially difficult,” he reflects.
To reduce late payments, Octopus PropTech recommends automating management processes, since many times it is not a matter of people not being able to pay, but rather simple forgetfulness. “Having automatic tools that remember payment dates and expirations significantly helps reduce delinquencies,” they highlight.
They also include the possibility of implement incentive mechanisms that reward good payment behaviorsuch as discounts for prompt payment or for paying within a certain period. Include penalties It is also an effective tool for those who are in arrears. “This combination of rewards and interests generates a balanced system to improve collectibility and reduce delinquency rates in consortia,” they emphasize.
Expenses: what to expect for 2025?
The projections for 2025 are extremely optimistic, according to Octopus Proptech. Furthermore, they observe that it will be a very positive year for the industry and for activity in general. “The scenarios of macroeconomic uncertainty, high inflation and volatility were very challenging,” they highlighted.
2025 will bring “a different scenario than in recent years”, since in 2024 suppliers and sectors linked to the industry managed to gradually update their prices to “more realistic values”. The adjustment, added to the stable macroeconomic context and low inflation, generate a positive outlook, since suppliers do not need to constantly adjust their prices.
“One aspect to highlight is that we saw too much rotation of administrations in recent years, something that is not good for anyone. Knowing the consortium, understanding its status and what maintenance has been done requires time and continuity,” highlights Baccigalupo.
And he adds: “A scenario of greater stability will allow administrators to work more calmly and focus on what is important, achieving more solid results in the long term.”
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
