In the midst of the serious crisis that the rental market is going through in the City of Buenos Aires, with low supply and skyrocketing prices, those who are looking for a home now have an additional incentive to target a particular sector of the Buenos Aires
territory
.
By an official initiative, in case of renting a property located in the
Microcentro
, the tenant can access a
special loan
from Banco Ciudad with accessible requirements and a
subsidized rate
well below the market rate.
Specifically, they are more than
$270,000
, which the renter will use to face the heavy list of initial expenses linked to income (moving, deposit, guarantee, month in advance...).
The amount received can also be repaid in monthly installments over
three years
.
That is, during the entire
duration of the
rental contract.
The loan, still little known, was launched this year as part of a broader plan by the City Government to reconvert the Microcentro and
make it more residential
, after the blow that the pandemic and teleworking represented for that area -dominated by offices. .
With this assistance they want more people to choose to rent in the Microcentro.
Photo: Emmanuel Fernandez.
How is the loan that encourages renting in the Microcentro and what neighborhoods does it include?
"We launched a
personal loan
to cover the initial expenses of moving and others related to the rental of a property, for those people who enter into rental contracts for permanent housing
within the
City Center," they explained to
Clarín
at the Buenos Aires public bank.
Specifically, it can be requested by those who move
within the perimeter
comprised by the following streets and avenues: Santa Fe, Crucero General Belgrano, Del Libertador, Leandro N. Alem, Paseo Colón, Belgrano, Bernardo de Irigoyen and Carlos Pellegrini.
This credit, already available
with a single signature
both via the web and in branches, "allows you to obtain
up to the equivalent of
1,200 UVAs
in pesos
at the time of requesting the credit," according to Banco Ciudad.
Currently -in mid-April- that represents a little more than
$270,000
, but the ceiling will be adjusted to the rhythm of inflation.
What is the interest rate and how much is paid in installments?
The interesting thing is that a nominal annual rate ( TNA
) of
47%
is applied to the financing
, at a time when common personal loans do not fall below 85% or 90% of TNA and banks pay 78% for fixed terms.
The subsidized rate generates, for a term of 36 months, monthly installments of around
$6,100
for every
$100,000
that the tenant receives.
Thus, a loan of
$200,000
will yield 36 payments close to
$12,200
.
And one for
$270,000
-the maximum-, installments of
$16,470
.
What are the requirements to access the loan and how much do you have to earn?
The benefit is available to
clients and non-clients
of Banco Ciudad, including dependent employees, independent workers, monotributistas, retirees and pensioners.
In any case, to receive the loan, the bank will verify that the installments to be paid do not affect more than
30%
of the
net income.
of the applicant and/or his
family group
.
With which, in order to receive the $270,000 and return it in three years, paying installments of $16,470, you will have to demonstrate blank income greater than
$54,900 per month
.
The loan is now available at Banco Ciudad branches and also online.
Photo: BCBA.
What other official credits exist now to facilitate renting in the City?
In parallel, the Buenos Aires government has just relaunched, through the City Housing Institute (IVC), other financial
assistance programs
aimed at low- and medium-income tenants.
In this case, they are usable for rent in
any neighborhood
.
1) +Easy Guarantee
It allows families who do not have a property guarantee and who earn up to 7 minimum wages per month ($562,394) to get
surety insurance
with a
70% bonus
to support rentals of up to 654 UVAs per month (today about $147,200).
Through Banco Ciudad, you can also access an
extra 15% discount
when paying with a debit card.
"Taking a rental of
$70,000
as an example , with the bank discount and the IVC bonus, the final price for the client would be
$39,474
," they exemplified in the entity.
More information, here and on the IVC website.
2) Rent +Easy
It allows families who earn up to 7 minimum wages per month ($562,394) and who rent up to 654 UVAs per month (today $147,200) to access a
loan
of up to
three months
of rent.
As announced, the money must be returned to the IVC in 12, 24 or 36 installments that will be
updated by inflation
, although "they can never have an accumulated increase greater than the average salary."
More data here.
MDG
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