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Micro-environments of 20 m2, in liquidation: what they are like and how much they became cheaper in Capital

2021-07-12T21:25:31.353Z


They reappear as the most accessible option for a first home. Prices and financing alternatives.


Martin Grosz

07/12/2021 6:00 AM

  • Clarín.com

  • Services

Updated 07/12/2021 7:36 AM

Many young people aspire to

go live alone

or stop renting.

But they feel that

buying is impossible

.

They are unable to access a loan and, even with family help, they do not

even

get

to a studio apartment

.

What could be the solution?

Settle for an even smaller department: a

microenvironment

.

They are the smallest buildings

among the boys

.

True "

little rooms

" that in recent years began to be built in droves throughout the City of Buenos Aires.

How tiny are they?

In some cases they are barely

18 square meters

, the legal minimum.

Sometimes they are 20, 23 or

26 m2

.

A common studio apartment, on the other hand, can have 30 to 40 m2.

With such a small footprint, living in a microenvironment can be challenging.

But, if only the numbers are analyzed, as the appraisals are largely governed by the

values ​​per m2

of each area, these apartments are by far the

most accessible

 on offer.

And lately they have regained attractiveness as a

first-home

option

because

their values ​​fell

significantly, in line with a general trend in the real estate market.

When lifting the bed, the place to sleep is converted into a living room with an armchair.

Photo: Julio Juárez / Archive.

"Micro-apartments are in demand, mainly due to

a question of price

: they are small ticket alternatives," said Gabriel Brodsky, CEO of Predial, a firm that has been selling and promoting this type of housing since 2013.

"Because of how the purchasing power of income has fallen, people today do not get to buy the amount of m2 they would like. But, with these options, people who plan to

live alone

or

couples

manage to access their first property," he added.

What are microenvironments like and what is it like to live in them?

Although all their space can be that of a

large bedroom

, they are designed and equipped with everything necessary so that those who inhabit them can sleep, study, work, cook, watch TV and carry out all other daily activities.

To make this possible, they usually come

with folding

beds and tables

, and with folding chairs that can be hung together against a wall when not in use.

In addition, buildings with micro-environments generally have 

spacious and diverse amenities

, which somehow

compensate for

the lack of interior meters.

These are, for example, game rooms and

shared work rooms

(coworking), multipurpose rooms,

gym

, swimming pool, jacuzzi and solarium.

How much did the prices of microenvironments decrease?

The growing supply of properties and a fall in demand to historically low levels caused prices to fall sharply

throughout the

home sales

market

.

According to data from the consulting firm Reporte Inmobiliario (RM), the prices published in dollars of used apartments of

2 and 3 rooms

 fell

27%

in the last

two years

in Capital. 

Regarding

studio apartments

, a study by Remax Argentina, UCEMA and RM detected that their

effective

sale

prices

went from

US $ 2,321 per m2

in January 2020 to

US $ 1,856

last

April

, to reach US $ 2,003 in May.

A cumulative drop of

14% in 14 months

.

Germán Gómez Picasso

, architect and founder of RM, explained that the smallest apartments were especially affected in the pandemic and by the rise of the home office, since they began to value more

having more m2

, and at least 2 or 3 rooms.

According to Brodsky, in the specific case of

microdepartments

, the decrease in their prices in recent times was mostly

15%

, and in some cases it climbed to 

20%

How much are microenvironments worth now?

View of a 21 m2 microenvironment in Boedo, which is offered at US $ 34,500.

Image: Argenprop.

In Predial they said that, in

attractive

and well-connected areas of the City, near avenues, some micro-environments are obtained for

US $ 45 thousand

.

And in general, 

from US $ 50 thousand

, while two years ago similar units "did not fall below US $ 60 thousand."


These are prices to buy from the well, with the work to start or already underway.

On the other hand, in less valued areas there are currently offers of micro-environments even for 

US $ 30,000

or

US $ 35,000

,

Clarín

revealed

.

And used in good condition, from 

US $ 40 thousand

.


As a comparison, in the first quarter the average price of a

used

common studio

(32 m2) exceeded

US $ 85 thousand

in the City, and that of a new one (35 m2) was almost 

US $ 100,000

, according to a report by the Buenos Aires official statistical entity based on data from

Argenprop

.

"Values ​​like the current ones have not been seen

for a long time

and

I do not think

they can be

sustained for long

, because the cost of construction is on the rise. Soon they should rise again," Brodsky speculated.

View of a 20 m2 microenvironment in Monserrat, offered for US $ 32,940.

Image: Argenprop.

What payment facilities do construction companies offer today?

They usually ask for a

cash advance in

dollars of

30 to 60%

at the time of signing the bill of sale.

And they allow you to pay the rest in

installments

over 2 to 7 years.

Payments that can also be

in dollars

 or 

in pesos with

 monthly

adjustments

by the index of the Argentine Chamber of Construction (CAC).

Some of the schemes they currently offer are:

  • Advance payment of 40%

     and 60% in

    24 or

    36 installments

    .


  • 30% advance

    , 60% in

    60 installments

    and 10% upon receipt of the unit.

  • Advance payment of 40%

    , 50% in

    24 installments

    and 10% upon receipt of the unit.


  • Advance of 50%

    , 40% in

    60 installments

    and 10% upon receipt.

  • Advance payment of 60%

    , 30% in

    72 installments

    and 10% upon receipt.


For example, in the case of a

microenvironment

of

US $ 45 thousand

, one option would be:

  • Advance half

    (US $ 22,500).

  • Pay

    monthly installments of

    US $ 300

    for

    5 years

     (today it would be about

    $ 50 thousand

     at the MEP exchange rate).

  • Pay

    US $ 4 thousand

    on delivery.

If you choose to pay 

installments in pesos

, the first payment is usually calculated by converting the dollar amount into national currency according to the blue exchange rate.

And then that is adjusted month by month by the

CAC index

, which reflects the evolution of the cost of construction.

A model of micro-apartments that can be paid with an advance and up to 60 installments.

Photo: Predial.

Can you ask for a mortgage loan to buy a micro-environment?

And with what fees?

If the microenvironment is purchased

finished

, either brand new or used, there is the option of asking a bank for a 10, 15 or

20-year

mortgage loan

.

The great advantage of this option is that if the purchase is for

single dwelling

, the weights of credit can be used to buy dollars

at the official value

 (without a

country tax or withholding 35%), which is now about 

$ 101

.

These credits are currently offered in

traditional

modality

or in 

UVA

(Purchasing Value Units, which increase month by month according to inflation).

In any case, the great

challenge

will be:

  • Get 20% to 30%

    of the value of the property that the bank does not finance.

  • Demonstrate sufficient income

    so that the initial fee does not represent more than 25% or 40% of them, something that is usually achieved by adding

    family members

    as

    co-debtors

    .

In recent years, in Capital, many buildings with microenvironments were built.

Photo: Rafael Mario Quinteros.

The most advantageous conditions are currently available in

public banks

.

Here are some concrete examples.

1) UVA Credit from Banco Nación

Loans up to

80% of the value

, to be repaid in up to

20 years

with UVA adjustment and a fixed rate of

8%

.

The initial fee cannot affect more than

25%

of the net income.

To buy a

microenvironment

of

US $ 45 thousand

with the 20-year financing, it would require at least:

  • Save 20%

    : that is, about

    US $ 9,000

    .

  • Asking $ 3,636,000

    (to buy the remaining $ 36,000 at the official exchange rate).

  • To be able to pay an

    initial

    fee

    of

    $ 31,168

    , which will later be updated.

  • Demonstrate

    family

    income

    of

    $ 121,656

    .

If instead you already have a saving of 

50%

 of the value (

US $ 22,500

), you will only have to request $ 2.3 million, with an

initial

fee

of

$ 19,763

 and showing

family

income

of

$ 76,037

.

2) Credit with combined rate from Banco Ciudad

Mortgage loans of up to $ 5.8 million are obtained at Banco Ciudad.

Photo: Rafael Mario Quinteros / Archive.

Loans

in pesos

(not in UVA) up to

75%

of the property's

value

, to be repaid in up to

20 years

in installments with a fixed rate (26%) for the first 12 months and with a variable rate thereafter.

Here the fee cannot affect more than

40% of the income

.

To purchase a

$ 45,000

micro

-environment

, the 20-year loan requirements are at least:

  • Save 25%

    : that is, about

    US $ 11,250

    .

  • Asking $ 3,409,000

    (to buy the remaining US $ 33,750 at the official exchange rate).

  • To be able to pay an

    initial fee

    of

    $ 74,366

    .

  • Show net income of

    $ 185,915

    .

If instead you already have 

50% of the value

(US $ 22,500), you will only have to ask for

$ 2.3 million

, which requires paying an initial fee of

$ 48,646

and having a family income of more than 

$ 121,615

.


MG

Look also

Loans to build or improve the house: how much do banks lend today and how are the fees

Mortgage loans: how much banks lend today and what salary do they require to access

Source: clarin

All news articles on 2021-07-12

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