Thursday , April 15 2021

President Banco Provincia provides for the recovery of real estate credit

Banco Province Provincial President Juan Curutchet predicted a recovery in the property market this year after the strong one in 2018. "We will recover dynamism in real estate credit"the official said when designing the bank's position he is leading this year after last year's instability following the financial and exchange crisis.

Curutchet said the mortgage operation was "very strong until the devaluation in late April" and then "I went into a cooling"of which the market will begin now with greater economic stability, but the official noted that the amount of mortgage loans delivered in 2018 was" respectable "as it reached almost 7,000 compared to the record of 11,000, annotated in the year previous, 2017.

"In 2019 we will recover dynamism in real estate credit. As we know, a sudden devaluation greatly changes the conditions as it goes to the arch: the same property, when it is transferred to the pesos, costs more and wages evolve with another rate, "Curutchet told La Capital de Mar del Plata .

According to the president of the entity in Buenosaire, in the province of the Bank, they believe this "this gap will be closer to this year and the real estate lending lines of the banks will be activated, "unlike the deep crisis that the sector is experiencing due to the devaluation that hit our country.

Meanwhile, since 2018 and 2019, due to the economic crisis and inflation inflation, the mortgage market is largely disappearing after a fleeting rebound in the UVA mode that attracts thousands of Argentinians. The most recent official data for November is catastrophic, 87% of the number of operations financed by mortgages. In view of this, there was a possibility of alternative banking alternative.

Source link