La Derecha Diario Construction: Proaco, the Córdoba-based group that decided to finance apartments for 10 years
These are completed and under-construction units, with a down payment and the balance financed in UVA plus a fixed 7%
"Credit is back. But this time, not from banks. From real estate," warned the CEO of Grupo Proaco from Córdoba, Lucas Salim.
The businessman emphasized that in the face of the scarcity of mortgage loans, it is the developers who have stepped up to offer financing.
"At Grupo Proaco, we decided to directly finance our apartments for 10 years. For years, we were almost like banks: people entrusted us with their savings to protect themselves from inflation," Salim continued.
"Today, the market has changed. Now it's our turn to take the step," he stated on X.
Specifically, Proaco offers a direct financing line to acquire finished and under-construction apartments, which requires a 40% down payment and the balance financed in UVAs and 7%. The term is up to ten years.
Lucas Salim and access to housing
"Without banking bureaucracy," warned Salim, for whom "access to housing can't keep waiting."
"This isn't a model for everyone. Only those who have the backing, vision, and real project volume can sustain it. But setting a trend is just that: staying one step ahead. That's what we decided to do at Proaco," he pointed out.
According to Salim, mortgage credit didn't return because the system offered it, but because "the real estate sector needs it and generates it."
"At Proaco, we chose to be protagonists. Because Argentine real estate moves with those who make it happen."
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