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2 clusters · 10 sources · 13 days · First seen 15 days ago · Last updated 2 days ago

Banco Ciudad housing and real estate initiatives

Overview

The Buenos Aires Legislature passed Law 1.779, which amends the Organic Charter of Banco Ciudad. The law mandates that at least 25% of the bank’s net profit remainders be allocated to mortgage loans, with remaining funds directed toward city-managed infrastructure projects. To support this reform, the bank relaunched mortgage products with terms extending up to 25 years, offering loans of up to 150 million pesos for first-time homebuyers and 200 million pesos for other residential properties.

Following these legislative changes, Banco Ciudad announced public real estate auctions scheduled for September 18. These auctions feature properties from vacant inheritances across various Buenos Aires neighborhoods, including Palermo, La Boca, and Recoleta. The assets range from apartments to urban land, with base prices spanning from US$32,160 to US$383,258. Conducted on behalf of the Procuración General de la Ciudad de Buenos Aires, the proceeds from these auctions are designated for the Ciudad de Buenos Aires Permanent Educational Fund.

Entities

Banco Ciudad · Buenos Aires · Legislatura de la Ciudad de Buenos Aires · Procuración General de la Ciudad de Buenos Aires · Guillermo A. Laje

Timeline

2 days ago

[BUSINESS] 2 sources
Banco Ciudad announces real estate auctions in Buenos Aires
Banco Ciudad will hold online real estate auctions on September 18 for properties in Buenos Aires, with base prices ranging from US$32,160 to over US$383,000.
15 days ago

[BUSINESS] 8 sources
Banco Ciudad to allocate 25% of profits to mortgage loans
The Buenos Aires Legislature approved a law requiring Banco Ciudad to allocate at least 25% of its profit remainders to mortgage loans, aiming to increase housing access for the middle class.

Sources

elmonterizo.com · estudiosmetropolitanos.com.ar · expresdiario.com.ar · galvezhoy.com.ar · lapostacapital.com.ar · nuevospapeles.com · parlamentario.com · radiomhumahuaca.com.ar · telecom.co.nz · zonanortehoy.com