Although the general sales index drawn up by the Córdoba Urban Development Business Chamber (Ceduc) continues in negative terrain, the start of 2020 left a better perspective for some categories of new properties that are sold without financing.
The January report of the sector entity brought, as a novelty, an improvement in sales in installments of lots and garages: in the first case, with an increase of 130.8 percent year-on-year and 95.9 percent in the quarterly comparison. In garages, operations doubled in annual terms, while the quarterly rise was 11.3 percent. In contrast, the financed sale of houses and apartments remains weak.
For Ceduc, the phenomenon is linked to the few savings alternatives. “The lots and the garages are accessible products, with a minimum investment, and also today developers have implemented viable financing alternatives to maintain the market,” said the entity.
Along these lines, he considered that, “given the impossibility of saving in dollars,” many investors “decide to protect their savings in real estate, which today are at a very convenient price in dollars.”
Different is the reality of spot operations, which, on average, fell 50 percent year-on-year. “Financed sales are those that set a trend to increase sales. We rescued that this is due to the efforts of the development companies, which, without plans or public tools to boost the market, continue to bet on providing financing alternatives, “added Ceduc.
The original text of this article was published on 03/06/2020 in our printed edition.
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