the Real Estate Market decreased its sales due to the Central Bank measures

July 7, 2012  |   Filed under: Economics  |   Posted by:

Argentina, July 7, 2012

Statements done by the president of the Central Bank (BCRA), Mercedes Marco del Pont, on home loans the real estate market is going through a serious period.

According to Nestro Walenten, president of the Chamber of Real Estate of Argentina “the decision of the Central Bank is an additional brake on their activity. To the extent that these measures are more acute, the decrease in the market will be higher. “

According to the Chamber of Notaries of the city of Buenos Aires: “between January and May 2012, 19,282 operations were agreed sale of property, ie, 15.3% less than the same period of 2011.”

Walenten added: “While mortgage loans have limited participation in the housing market, about 5% of operations, the impact of the action taken by the Central Bank has a larger dimension.”

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