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April 18, 2014
Friday, January 3, 2014

Construction begins on 90k homes with Procrear

File photo shows a Pro.Cre.Ar lottery last year.

Programme awards soft credits to build houses

Construction has begun on about 90,000 homes throughout the country since the June 2012 launch of the Pro.Cre.Ar programme that grants soft credits to build houses across the country.

The fiduciary fund, using public resources that are administered by the Banco Hipotecario, has already held eight lotteries and four supplementary drawings. In 2013 new lines of credit were added, raising the number of loans to be awarded over a four-year period to 400,000.

In total 309,626 families were selected by lottery to begin the process of receiving a mortage, of which a large percentage already had a loan approved, and another portion are currently preparing their credit history. The remainder are due for their appointment at the Banco Hipotecario to begin the process.

Overall, 89,450 homes are now under construction, of which 55,363 have been built using loans for families and 15,674 homes have been finished, according to the ANSeS social security agency. In addition, 34,087 homes are being built in new housing developments for families that do not already have a plot of land. These developments are now open for registration and 43 lots have already been adjudicated.

On October 22 2013 the eighth lottery was held, marked by new records in participation and the number of winners.

A total of 364,838 families signed up, of which 158,176 were selected between the lottery and the supplemental drawings.

“With Pro.Cre.Ar in 2014 we will set new records for mortgages awarded, we are going to see a lot more signs with the Pro.Cre.Ar logo indicating construction and we will able to say that for thousands of Argentines the dream of owning their own home will be possible thanks to an intelligent state working towards social inclusion and development.”

Simultaneously, urban planing will be carried out to make sure new developments are apt for settlement while also generating new lots, opening up streets and accesses as well as ensuring essential services such as water, sewage, electricity and natural gas are delivered.

In 2013 agreements were signed with municipalities in Buenos Aires province (including General Pueyrredón, Partido de la Costa, Mar Chiquita, Florencio Varela, Bahía Blanca, Tandil) and in Río Negro (Bariloche, Cipolletti, Gral. Roca and Viedma) and with the governors of Buenos Aires province, Entre Ríos, Santiago del Estero, Santa Fe, Neuquén, San Juan, Chaco, Jujuy, La Rioja, Salta, Tucumán, Formosa, Catamarca and Misiones to facilitate the construction of new homes in urban settings, therefore increasing the supply of housing in cities.

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