The Limited Times

Now you can see non-English news...

CUCICBA proposes a law to reactivate the rental market

2021-07-22T07:26:17.897Z


The Real Estate Brokers promote a project before the Buenos Aires Legislature: exempt tenants and owners from taxes for more than a year


07/20/2021 7:01 AM

  • Clarín.com

  • Real-estate market

Updated 07/20/2021 7:01 AM

The Unique College of Real Estate Brokers of the City of Buenos Aires has proposed to establish a fruitful and sustained dialogue with national and local authorities to find possible solutions to the current crisis affecting the real estate market that has affected both its enrollees and society as a whole.

Just as its authorities collaborated with national deputies to give entity to a project that modifies the current Rent Law that, as predicted by the Real Estate Professional Association from the outset, harmed both tenants and owners, generating an increase of more than 40% in housing rents.

Today they are approaching an initiative to try to reduce the damage that the recession and the pandemic increased in the commercial rental market.

Marta Liotto, Vice President of CUCICBA

With the aim of stopping the closure of commercial premises in the City, CUCICBA participated in the creation of a bill that aims to exempt the tenant from paying the Gross Income Tax and the Sweeping and Cleaning Lighting Service to charge of the owner for a period of a year and a half from the moment of signing the lease contract carried out with the advice of a Registered Real Estate Broker.

The regulation that tries to contribute to the recovery of the industry and the occupation of commercial premises in CABA is promoted by the Buenos Aires Real Estate Association together with the City Deputy Eugenio Casielles, of Federal Consensus. It will first have to be discussed in committee and then elevated with or without changes for treatment in the Legislature of the Autonomous City of Buenos Aires.

According to a report by the Observatory for Analysis and Statistics of CUCICBA, 27,000 locals had lowered their blinds between March and the end of 2020; 20,000 ran the risk of closing permanently. Of these, only 35 percent were reoccupied. Empty spaces are more noticeable in the main avenues of CABA than in open-air shopping centers in neighborhoods such as Villa del Parque and Flores, for example. The Florida pedestrian street (which used to have the value of the square meter for rent at USD 100 dollars in other times) is one of the worst hit, with almost 55% of its properties empty.

“We seek to encourage potential clients who wish to start a commercial activity and we think that with a tax relief they would dare to do so knowing that for a year and a half they will have a tax cut. We believe that it should be treated taking advantage of the approaching legislative elections, ”says Marta Liotto, Vice President of the Professional Real Estate Association.

“The level of unoccupied properties is very high and there is no return, the real estate companies even offer them to franchises, but the response is scarce for now.

By exempting taxes we believe that it could help make the decision of those who intend to occupy the premises.

The mission is to encourage the rental market both in the neighborhoods and in the large commercial centers of Cabildo avenues, Corrientes, Santa Fe, the outlets of Córdoba Avenue, among other points ”, lists the Vice President of the entity that represents the most of eight thousand professional real estate brokers in the city.

Eugenio Casielles, Buenos Aires deputy.

The synergy generated between CUCICBA and city legislators appears to have been fruitful. The Real Estate Brokers know the situation of each premises for rent or for sale in the city, they know that each one that closes is a hope that remains truncated. That is why this type of project is so important and requires the attention of the authorities and all political forces. Because Real Estate Brokers know that they can be part of the solution and the opinion of the Real Estate Professional Association has a strong specific weight in the generation of solutions for this sector of the economy of the city and the country.

Source: clarin

All news articles on 2021-07-22

You may like

News/Politics 2024-01-30T17:49:44.118Z
News/Politics 2024-01-29T19:58:53.004Z

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.