After a poor result in the PASO, the Government decided to devalue the official exchange rate by 20%, making the dollar reach $365.50. This fully impacts the real estate market.
In this context, we communicated with the real estate developer Gustavo Ortolawho spoke about the impact of the rising dollar on property values.
The impact of devaluation on real estate
“The change of agenda was foreseeable but not so brutal,” said Ortolá about the results of the PASO. “Every time there is a change in the currency, there is a moment to relax and wait to see what happens”he added.
Along the same lines, the interviewee said that there are cycle change variables. “You have to wait for this to calm down to see how the story is going to be. The change in value makes projects more calm to analyze”, he detailed.
“The buyer once again has control of the operations, the difference between the asked price and the offered price widens again,” shot the developer. “When the currency used for production inputs is devalued, the cost of construction will increase”he explained.
Finally, Ortolá said that he does not believe that the price of the units will drop much more in dollars. “The ones who lead the business are not the final consumers, but the investors, and this volatility means that there is no credit”he concluded.
2023-08-15 06:23:32
#STEP #skyrocketing #dollar #real #estate #market #slows
