The Executive Power published this Friday in the Official Gazette the modification of two articles of the decree that regulated the law n. 27,613 -called Incentive for Investments, Construction and Production Argentina- which generate expectations in the real estate market.
Is that this modification expands the range of options to be able to use the recycled capital for the purchase of houses and buildings, which allows to give impetus to a market that does not stop recovering.
Decree 18/2023 published in the Official Gazette expands the investment items in relation to used properties, which are expected to generate a greater flow of operations.
Article 1 establishes: “The funds declared must be intended for development or investment, in real estate projects in the Argentine Republic or for the acquisition of a used property”.
Likewise, he clarifies that by “used goods” we mean those which, prior to the acquisition by the declarant of the funds, had been inhabited or affected by leasing, use, usufruct, habitation, anti-cresis, surface area or other real right. ”.
Ratifying what was anticipated in the debate on the project, the decree specifies “in the case of a property subject to a lease with the exclusive use of a house-premises, the tenant must not be the owner of any property, whatever the proportion”.
The purchase of used properties, on the other hand, will have limitations: it must be used as a home for the washerman and his family or, “for a period of no less than 10 years”, leased with the exclusive use of house-room (that is, non-commercial).
The decree adds that AFIP “will issue the relevant complementary rules concerning, among other things, the form of accreditation of the acquisition of the used property located in the country and the verification of compliance with the requirements and destinations”,
Source: Clarin
