INMSA’s vision of investments in real estate in EXPO EFI 2016

31 Mar '16

Mariano Capellino, CEO of INMSA, participated in the “Investment Alternatives” panel at Expo EFI where El Cronista and Apertura magazine organized seminars for different sectors. The same table was shared by Esteban Pereiro González, Chief Investment Officer of HSCB; Paula Premrou, CEO of Personal Portfolio and Guillermo Guichandut, General Manager of Supervielle Asset Management. The panel was coordinated by Hernán de Goñi, Assistant Director of El Cronista, and a journalist, who expressed his surprise for the great number of attendees comparing the event with the Coldplay concert, which was by then taking place in the city of La Plata.

According to the article published by El Cronista which can be accessed through this link, Mariano Capellino’s view is that the Argentine real estate market is not attractive compared to other countries because the profits obtained from property rentals is 1% and there is low appreciation expectations. Instead, he sees good opportunities in Spain (as this country has experienced a 10-year recovery, with 5% rental profits in peripheral areas and 7% appreciation) and USA (with 7% rental profits and 8% appreciation in 5 years in the medium class segment). “Historically, the real estate is kept in portfolio and no high profits are obtained. The key is to move from one market to another and from one type of asset to another. It is possible to triple profits”, said Capellino “The timing to start is key”, and he recalled the fact that in Argentina, between 2002 and 2010, a 10% annually was obtained, but those who continued till today have had no profits at all plus the opportunity cost.   “You must never repeat the recent history”, he said, and pointed out the advantage of purchasing through auctions, banks and investing in real estate as it is possible to acquire assets at a value 20% lower than the market price.

 

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