Lucas Pendra He began by noting that the market suffered widespread paralysis for about 60 days, particularly due to the election. A combination of “fear, speculation and uncertainty” was observedsaid the CPI chief.
Since October 26th, there has been a rebound in the number of consultations.This, he explained, shows that “customers are coming back strong.” However, many of the inquiries we are currently receiving involve a new factor: payment delays.
for the president of College of Real Estate Brokers (CPI) “There are people who are unable to pay the lease payments they are contractually obligated to make. Delays in common service fee payments are also being measured.”
Despite everything, there is a surprising fact that is boosting the struggling rental business. Today’s apartment rental prices are “20% lower than in December 2023,” the broker notes in a new chapter of the newspaper. Point-to-point business streaming.
Pendra emphasizes that when talking about rent, you need to consider not only its net value, but also ancillary expenses such as overhead costs, council and council tax, and services.
If you visualize the rental market as Lucas Pendra describes it, it’s like a car trying to move forward with a trailer that’s too heavy. The engine (tenant’s paycheck) always runs behind, but the weight of the trailer (additional expense) doubles and arrears increase even though the base rental price is down.
The impact of “additional costs” has historically accounted for 25% to 35% of the total rental price, but now in some circumstances “these additional costs can account for 100%” and in some cases equal the rental price.
After a difficult year, developers are excited and are betting on a more certain outlook for 2026
According to the CPI chief, the main causes of payment delays are “the constant delay in salaries and the difficulty for people to fulfill their contractual obligations as the real estate market is not affected by the economic situation of the country. These two factors (delays in salaries and increase in supplementary expenses) are the main reasons for the increase in payment delays.”
According to the latest monthly report of the Real Estate Statistics Center (CEI) of the Córdoba Real Estate Agents Professional Association, 7.9% of commercial tenants did not pay their rent on time.
Real estate sales business also decreased by 34.8%, and rents decreased by 55%.
Tenant behavior and price changes
Mr. Pendra explained how the changing economy has changed the way renters search for housing.
* Co-housing: “Nowadays, we see families clustered together in the same house, or students who previously chose to live alone are now forced to live with friends, siblings, or family members.”
* Estudiantes’ “Maron” is gone: “The traditional large groups of students that come at the end of the year (November, December and January were the strong months) no longer exist. This is because many courses have become more popular virtually, and many families have chosen for their children to study remotely and remain in their hometowns.”
* Neighborhood trends: “Incoming students are actually choosing cheaper neighborhoods to lighten their pockets, but this represents a mutation to Nueva Córdoba’s historic boom. They are choosing nearby neighborhoods like General Pass, Cofico, Alberdi, and Barrio Jardín.”
Tourism season: “Reliable rental”
We must work hard until the public recognizes the importance of the need to “always hire real estate agents with more tools to manage disputes,” as the President of the Professional Association of Real Estate Brokers has always emphasized.
Therefore, we are promoting “Reliable Rental” as an initiative for the summer. These are agreements with various tourist destinations in Córdoba (Traslas Sierra, Calamuchita, Punilla, etc.). The initiative aims to raise awareness among tourists to visit seasonal businesses with certified professionals.
Municipalities, in cooperation with the CPI, will encourage tourists to avoid contracting through public roads and networks, thus preventing them from falling into the trap of “any improvised means of crime.”
“If tourists get scammed, it makes real estate agents look bad, it makes the state look bad, it makes us as Cordobans look bad,” Pendra warned. He believes that Córdoba is in a position to be chosen for sporting and cultural events and to compete at the South American level, and he is committed to protecting the brand until the last days of his administration.
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