The pandemic marked, as in many industries, a before and after in terms of the real estate market. The local monarchy was dethroned and people wondered, perhaps for the first time in a long time, where they wanted to live. Many understood that it was time to prioritize quality of life, comfort and contact with the green, and why not, work at home or have a space where the children could study.
Speaking with industry specialists, at an event with investors organized by Caestta Equity, Leandro Molina, commercial director of Navent Argentina’s Real Estate operation and leader of Zonaprop and Tokko, said that, according to data released by the site he runs, zonaprop.com, 40% of Argentines intend to buy a property this year and that searches for land to build and ventures in the north, south and west skyrocketed 150%, vastly outperforming apartment searches.
But what has changed? What are the trends and needs that must be taken into account when designing a different real estate project that meets market demand and that in turn is of interest to investors and people who want to live there?
In this stage, a low-risk business plan, backed by a trusted developer and an innovative project, is highly attractive to your target audience. For Argentines, bricks are always a store of value and even more so in the context of the exchange rate split, stagflation and negative rates in pesos that we are currently experiencing.
* The author is CEO of Caestta.