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
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