In Argentina rural real estate sales have frozen
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In the past year, there were very few sales of farms and then towards the end of the year, it all stopped. In 2019 to date there have been no commercial farm sales.
In Argentina, the steady upward value of the US dollar was the key factors for the paralysis of the real estate activity in farms.
The president of the College of Auctioneers and Public Corridors of the province of Buenos Aires Juan Carlos Donsanto said that “in a context of strong recession and the strength of the
“What happens on the farm, although on a smaller scale, replicates what is happening in the rest of the economy,” Donsanto said.
“In a context of a serious recession and a surging dollar, real estate buying and selling operations have slowed down and have almost paralyzed us in an alarming way, pushing the crisis into our activity,” he added.
According to to the Ag report, in the sector, there is a drop in activity of up to 25% in the first months of this year because of the discouraging impact of the exchange rate tension in recent weeks.
“Potential buyers prefer to have the capital liquid so they can make fast profits in the financial instruments made available to investors today.
The auctioneer adds that “to reach the values that are connected to the dollar, you have to sell a lot more steers or a lot more cereals.” The current economic context of the country has slowed down our profitability.
Source: Todoselcampo
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