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Where are the investment opportunities at a pivotal moment for the sector? - La Nacion Propiedades
Source:
www.lanacion.com.ar
July 16, 2025
Real estate brokers responded to questions about areas, prices, the impact of credit, and where demand is headed.
By Victoria Aranda
Real estate brokers took a snapshot of the current state of the sector.Fabian Malavolta - LA NACION
Moderated by José del Río, and as part of the tenth chapter of the Real Estate Summit, Gabriela Goldszer, director of Ocampo Properties; Diego Cazes, general director of LJ Ramos Brokers Inmobiliarios; Facundo de Achával, vice president of Toribio Achával ; and Miguel Ludmer, founder and director of Interwin, discussed investment opportunities at a pivotal moment.
After a brief presentation by each speaker, aided by Artificial Intelligence —which also allowed the speakers to see how this tool has evolved over the years, as they have participated in several editions of the Summit, where they were presented with the aid of this technology that has been perfected—del Río began the talk by explaining that part of the panel's appeal lies in the fact that the keynote speakers are the ones in charge of setting the tone for the current market.
" In this panel, we're going to answer what's happening ," the La Nación executive stated. And along those lines, he continued: "Let's talk about what matters to people, which is what's happening in the market today." He asked for a photo of the market.
“Well, we're going through a time of great structural uncertainty, with a very abrupt change in the country's model ,” Goldszer of Ocampo Properties began, distinguishing between sectors that are making considerable progress “and that are, let's say, doing well, and some that have become a little more stagnant.”
According to the broker, fortunately, there are currently truly dynamic sectors. "In particular, we're seeing this a lot in used apartments, where we're seeing record numbers."
José del Río (LA NACION), Facundo de Achával (Toribio Achával) and Miguel Ludmer (Interwin)Fabian Malavolta
According to Diego Cazes, when discussing today's situation, we cannot ignore "the fact that we suffered a pandemic and the subsequent destruction of the country under the government that succeeded us." He continued: "I think the ship is stabilizing. We have a lot of parameters that give us a confident outlook."
In this regard, the broker highlighted the repeal of the rental law as a milestone, " which is now history, but extremely important "; and the fact that investors can now buy and rent a home at 5% annual interest. "This is no small feat," they emphasized, also stressing that although loans are available today, "this is the area that needs to be improved to enable the market to recover significantly."
When asked about real estate as a safe haven, Facundo de Achával echoed Goldszer's sentiment. " Used apartments, which we don't like to call used, we like to call apartments, because the truth is they are apartments. People always see them as a safe haven, " he stated, explaining that there is a segment of the population that, whenever they have a little money saved up, either decides to add more space to their home or chooses to pay off a loan "or a small installment" to gradually acquire more assets.
" We see the end user returning to the market with this used product, somewhat leveraged by a credit that is obviously in its infancy, but it has helped especially with the smaller units and also with desires that had been postponed and that are now being realized precisely because prices remain, in relative terms, comparative to the cost of construction, somewhat delayed," analyzed the Interwin executive.
Diego Cazes (LJ Ramos), Gabriela Goldszer (Ocampo Propiedades) and José del Río (LA NACION)Fabian Malavolta
In line with current values, del Río stated that there are sectors where the exchange rate is a disadvantage, and there are others, such as real estate, where property has always been denominated in dollars, but the dollar is now more accessible. "How does it affect or help them?" the moderator asked.
“For us, the dollar is lagging; clearly, at 1,200 pesos, it's low relative to inflation, especially compared to the first half of 2024 ,” Ludmer continued. And de Achaval reiterated: “ Apartments are still cheap, but they'll rise throughout this year, and I think the dollar, if it stabilizes, will work in our favor.”
For the LJ Ramos representative, " the redemption of new construction has to be, for me, that used construction goes up in price, because otherwise the difference is very large ." According to Cazes, used construction is going to go up in price, and as he explained regarding credit, today is a very good time to buy this way, in case rates adjust and inflation continues to fall slightly.
The market, let's say, economic, a lot of things were done, the rental law, all of this makes for a lot of freedom in our market, but the political issue is still making noise.
“In the neighborhoods where we market, in Puerto Madero, in Barrio Parque, in Palermo Chico, in Cañitas, Las Torres, projects that are, let's say, premium, premium, high-end, we see that it is a segment motivated and driven by scarcity and by the feeling that they are unique projects,” he explained, noting that, although these are initiatives aimed “ at a very small sector of the pyramid, it is a sector that moves the economy .”
Miguel Ludmer (Interwin)Fabian Malavolta
Invited to indicate where they see opportunities on the map in 2025, each broker revealed their own. From Toribio Achával, they favored Saavedra and Colegiales, as it's a young area easily accessible from the northern corridor and also a quick commute to the city center.
“I'm not going to discover anything new: Palermo and Núñez,” Ludmer responded sincerely. “ People want the north, they want the green ,” he emphasized. Which area of Núñez exactly? “ And the new area goes from Congreso toward General Paz. Everything is developing there, and we're really seeing very good demand. We're pleasantly surprised.”
Diego Cazes (LJ Ramos)Fabian Malavolta
Diego Cazes agreed. He added: "And if I had to go further, I'd say Puertos is a nascent city, experiencing significant growth and with young people flocking to these places, so I see significant growth ."
Facundo of Achával (Toribio Achával)Fabian Malavolta
“Historically, you had to build a bathroom and say, well, with $15,000, $20,000, or $30,000, I can make a change . Today, when you have to invest in a renovation, many people end up doing the math and conclude that it's better for them to move rather than do the work. This is a turning point in this era. I mean, there are some forced moves out there because of the cost of the work and the cost of construction,” he illustrated, using an example to describe one of the situations that arise in today's market. “ Plus, you start by changing a bathtub and end up changing all the pipes .”
Gabriela Goldszer (Ocampo Properties)Fabian Malavolta
The LJ Ramos executive addressed the future of credit, which, he indicated, is linked to various factors. Specifically, he alluded to intermediate credit, which, he stated, " is not something that is available, nor are developers willing to take out, nor are there good offers from banks. " He also noted that credit for buyers comes with the deed.
"So, we need to find an intermediate tool, which is neither in supply nor in demand yet. So, the day we have construction loans like they do in Spain, where the developer takes the loan and transfers it to the buyer, our film will clearly improve a lot," he reflected.
At the closing ceremony, specifically, when the speakers were asked about their present and immediate future, with the exception of Ludmer, who noted that his current earnings are the same as last year, but he spends more, all of them stated that they are better off than they were in 2024. What they unanimously agreed on is that their impressions of this 2025, which is full of expectations, will be shared at the next edition of the Real Estate Summit.
www.buysellba.com
Source:
Dónde están las oportunidades de inversión en un momento bisagra para el sector
Los brokers inmobiliarios respondieron sobre zonas, precios, el efecto de los créditos y hacia dónde va la demanda
www.lanacion.com.ar
July 16, 2025
Real estate brokers responded to questions about areas, prices, the impact of credit, and where demand is headed.
By Victoria Aranda
Real estate brokers took a snapshot of the current state of the sector.Fabian Malavolta - LA NACION
Moderated by José del Río, and as part of the tenth chapter of the Real Estate Summit, Gabriela Goldszer, director of Ocampo Properties; Diego Cazes, general director of LJ Ramos Brokers Inmobiliarios; Facundo de Achával, vice president of Toribio Achával ; and Miguel Ludmer, founder and director of Interwin, discussed investment opportunities at a pivotal moment.
After a brief presentation by each speaker, aided by Artificial Intelligence —which also allowed the speakers to see how this tool has evolved over the years, as they have participated in several editions of the Summit, where they were presented with the aid of this technology that has been perfected—del Río began the talk by explaining that part of the panel's appeal lies in the fact that the keynote speakers are the ones in charge of setting the tone for the current market.
" In this panel, we're going to answer what's happening ," the La Nación executive stated. And along those lines, he continued: "Let's talk about what matters to people, which is what's happening in the market today." He asked for a photo of the market.
“Well, we're going through a time of great structural uncertainty, with a very abrupt change in the country's model ,” Goldszer of Ocampo Properties began, distinguishing between sectors that are making considerable progress “and that are, let's say, doing well, and some that have become a little more stagnant.”
According to the broker, fortunately, there are currently truly dynamic sectors. "In particular, we're seeing this a lot in used apartments, where we're seeing record numbers."
José del Río (LA NACION), Facundo de Achával (Toribio Achával) and Miguel Ludmer (Interwin)Fabian Malavolta
According to Diego Cazes, when discussing today's situation, we cannot ignore "the fact that we suffered a pandemic and the subsequent destruction of the country under the government that succeeded us." He continued: "I think the ship is stabilizing. We have a lot of parameters that give us a confident outlook."
In this regard, the broker highlighted the repeal of the rental law as a milestone, " which is now history, but extremely important "; and the fact that investors can now buy and rent a home at 5% annual interest. "This is no small feat," they emphasized, also stressing that although loans are available today, "this is the area that needs to be improved to enable the market to recover significantly."
When asked about real estate as a safe haven, Facundo de Achával echoed Goldszer's sentiment. " Used apartments, which we don't like to call used, we like to call apartments, because the truth is they are apartments. People always see them as a safe haven, " he stated, explaining that there is a segment of the population that, whenever they have a little money saved up, either decides to add more space to their home or chooses to pay off a loan "or a small installment" to gradually acquire more assets.
A matter of numbers
Still speaking about current events, Ludmer of Interwin addressed current market values. “Two years ago, a well was worth $2,300; today, the cheapest well in Belgrano or Núñez is $3,000. So people say, ‘What’s the upside I’m going to get if I buy at $3,000, when, perhaps, a used one is worth $3,200, or a new one that’s already finished is worth $3,200?’ That’s where it’s hard to understand this new value scenario ,” Ludmer asked and responded." We see the end user returning to the market with this used product, somewhat leveraged by a credit that is obviously in its infancy, but it has helped especially with the smaller units and also with desires that had been postponed and that are now being realized precisely because prices remain, in relative terms, comparative to the cost of construction, somewhat delayed," analyzed the Interwin executive.
Diego Cazes (LJ Ramos), Gabriela Goldszer (Ocampo Propiedades) and José del Río (LA NACION)Fabian Malavolta
In line with current values, del Río stated that there are sectors where the exchange rate is a disadvantage, and there are others, such as real estate, where property has always been denominated in dollars, but the dollar is now more accessible. "How does it affect or help them?" the moderator asked.
“For us, the dollar is lagging; clearly, at 1,200 pesos, it's low relative to inflation, especially compared to the first half of 2024 ,” Ludmer continued. And de Achaval reiterated: “ Apartments are still cheap, but they'll rise throughout this year, and I think the dollar, if it stabilizes, will work in our favor.”
For the LJ Ramos representative, " the redemption of new construction has to be, for me, that used construction goes up in price, because otherwise the difference is very large ." According to Cazes, used construction is going to go up in price, and as he explained regarding credit, today is a very good time to buy this way, in case rates adjust and inflation continues to fall slightly.
The market, let's say, economic, a lot of things were done, the rental law, all of this makes for a lot of freedom in our market, but the political issue is still making noise.
Areas and segments
When the panel discussed the segments in demand in the market, the director of Ocampo focused on the luxury market. She explained that, regardless of the circumstances, it continues to thrive.“In the neighborhoods where we market, in Puerto Madero, in Barrio Parque, in Palermo Chico, in Cañitas, Las Torres, projects that are, let's say, premium, premium, high-end, we see that it is a segment motivated and driven by scarcity and by the feeling that they are unique projects,” he explained, noting that, although these are initiatives aimed “ at a very small sector of the pyramid, it is a sector that moves the economy .”
Miguel Ludmer (Interwin)Fabian Malavolta
Invited to indicate where they see opportunities on the map in 2025, each broker revealed their own. From Toribio Achával, they favored Saavedra and Colegiales, as it's a young area easily accessible from the northern corridor and also a quick commute to the city center.
“I'm not going to discover anything new: Palermo and Núñez,” Ludmer responded sincerely. “ People want the north, they want the green ,” he emphasized. Which area of Núñez exactly? “ And the new area goes from Congreso toward General Paz. Everything is developing there, and we're really seeing very good demand. We're pleasantly surprised.”
Diego Cazes (LJ Ramos)Fabian Malavolta
Diego Cazes agreed. He added: "And if I had to go further, I'd say Puertos is a nascent city, experiencing significant growth and with young people flocking to these places, so I see significant growth ."
Present and future
When the discussion turned to construction costs and their impact on the market, Facundo de Achaval focused on another factor that also impacted demand: the cost of a renovation.
Facundo of Achával (Toribio Achával)Fabian Malavolta
“Historically, you had to build a bathroom and say, well, with $15,000, $20,000, or $30,000, I can make a change . Today, when you have to invest in a renovation, many people end up doing the math and conclude that it's better for them to move rather than do the work. This is a turning point in this era. I mean, there are some forced moves out there because of the cost of the work and the cost of construction,” he illustrated, using an example to describe one of the situations that arise in today's market. “ Plus, you start by changing a bathtub and end up changing all the pipes .”
Gabriela Goldszer (Ocampo Properties)Fabian Malavolta
The LJ Ramos executive addressed the future of credit, which, he indicated, is linked to various factors. Specifically, he alluded to intermediate credit, which, he stated, " is not something that is available, nor are developers willing to take out, nor are there good offers from banks. " He also noted that credit for buyers comes with the deed.
"So, we need to find an intermediate tool, which is neither in supply nor in demand yet. So, the day we have construction loans like they do in Spain, where the developer takes the loan and transfers it to the buyer, our film will clearly improve a lot," he reflected.
At the closing ceremony, specifically, when the speakers were asked about their present and immediate future, with the exception of Ludmer, who noted that his current earnings are the same as last year, but he spends more, all of them stated that they are better off than they were in 2024. What they unanimously agreed on is that their impressions of this 2025, which is full of expectations, will be shared at the next edition of the Real Estate Summit.
www.buysellba.com
