The real estate sector looked forward to the arrival of 2020, after a 2019 that was one of the worst years in recent history. The sale of properties collapsed 41% and accumulated 18 consecutive months of fall.The market attributes the collapse to the decrease in purchasing power and the failure of the mortgage loan policy. Also to the complications derived from the return of the stocks. But not everything is hopelessness.In the sector they observe that in the last month some green outbreaks in real estate developments arose, as a result of investments that are made in pesos to bet on assets that follow the dollar.In fact, it is one of the items that generates more expectations in the face of 2020. It is, in this context, that the digital platforms that Argentines use in exchange rate restrictions gain prominence.Armando Pepe, president of the Single College of Real Estate Brokers of the City, points out that since December there has been a greater movement in the brick market."Many began to leave the Lebac, the Leliq and all those little papers. Unable to buy dollars, they enter into trusts in pesos since at the end of the work they are made of a property, or a part of it, valued in dollars" , indicates iProUP.From the sector they consider that this slight improvement comes with pesos "for resignation" and not with hard currency "for motivation". In addition, there are expectations that the real estate is the one that receives a good part of the funds that will come from the repatriation of capital proposed by the Government.Reactivation?Andrés Ávila Páez, responsible for the technological area of ââthe Real Estate Reporting consultancy, tells iProUP how an investment is made for a well development: "Normally, an entrance ticket is paid, which can be 50% of the total amount. in dollars or in pesos at the price of the developer. The rest is paid in installments, in local currency that will be updated month by month by the CAC Index (Argentine Chamber of Construction). "Of this item, which today the market sees with good eyes, the same players used to participate. "The traditional model is the builder who has a database of savers and when a new venture comes out he contacts them to return to anchor and take it forward," reveals Ávila Páez.However, in recent years technology has given rise to new ways to capture disbursements. One of them is real estate crowdfunding, a collective financing network in which many finance projects by placing smaller amounts than the traditional ones. Even from $ 1,000."The digital platforms that use this method to collect money have their web page, show the expected return, capitalization time and even the rent in the case of rent," says Ávila Páez.The crowdfunding system allows you to invest in a "piece" of real estate. "In this model, there are very few who buy an entire apartment. When the entrance barrier is lowered, the field is opened to new players to join the real estate market," says Ávila Páez. On the side of the builder, the sale of units to anchor is accelerated.Of course, like any investment, it carries its risks. "You have to be cautious with the expectations of returns, because if the revaluation of the property is high you will find out only when it is sold. And in these times there are no rains of buying and selling operations," says Ávila Páez, adding: "The earnings are reasonable, but not exorbitant. "On the other hand, it indicates that the fees paid in a well investment, even if they are in pesos, are high and are updated by an index that grew 53% in the last year, close to annual inflation.Real estate crowdfundingDamian Lopo, founder and director of Newlink Capital, believes that the stocks - reinforced after the electoral defeat of Cambiemos in October 2019 - can be an opportunity for real estate developments."The difficulties to buy hard currency and the surpluses in pesos of the natural and legal persons cause that some reactivation is observed. On the other hand, today the interest rates of the banks do not cover the inflation, reason why to shelter pesos with dollarized income about developments becomes a great option, "he says.With a long history in the field, Lopo created Crowdium, the first platform in Argentina for collective financing of real estate projects. "We offer investments in pesos so that people can dollarize savings and achieve double-digit income in US currency," he says, noting that it is possible to enter with $ 1,000."People can place pesos at the exchange rate of the MEP dollar," he adds. He says that in recent weeks the number of inquiries has grown and that the firm is analyzing new capitalization alternatives in local currency.The firm has 11 funded projects and is number 12. It has 50,000 registered investors and more than $ 470 million savers. At present, it has a development in the financing stage: some towers in Añelo, in Vaca Muerta, with an estimated income of between 30% and 40%.Such is the opportunity detected in the area that various initiatives are already underway. "In 2020, with the support of the new government, the rise in international oil and dollarized income, it is the best investment of the year, with returns up to four times greater than those of Capital," he says.Lopo believes that 2019 was a "hard" year for sale at the wellhead, because many treasured dollars without knowing exactly how much they would end up being worth. To that was added that it was a complicated year for the sale of properties."The market has the characteristic that, in the face of devaluations, defends the price and this reduces the total operations. Without access to credit, the buyer is managed with green cash bills and not with long-term loans as in other countries "highlights.Víctor Zabala, architect and founder of Estudio Zabala, agrees with this diagnosis. "2019 was a bad year. There was still no reactivation, but there are more inquiries from interested people," he tells iProUP.As another business unit of the architecture studio, it opened Sumar Inversión, which allows clients to participate in projects through crowdfunding. In the last year they had to put a "hand brake" on several developments due to the strong devaluations. In addition, the amount of income fell: it went from $ 10,000 to $ 1,000.Zabala also believes that the reactivation of the real estate sector this year may be due to the development of the well. "We invest in pesos and tomorrow those bricks will be like having dollars," he says.However, it also accounts for some dangers. "Risks are the change in the sale value of the property in the market at the end of the project or the excessive increase in construction costs," he explains.The platform allows investing in three developments: two houses in Pilar and a building in Palermo. The estimated income is between 25% and 30% in dollars at 36 months. In addition, it has a virtual calculator to know the profit margin as contributed. An investment of US $ 1,000 would give a projected US $ 1,141 over the next 17 months.It also allows disbursements in local currency at the official exchange rate. Adding Investment has 9 projects completed, 5 in process, 970 modules financed and 2.4 million dollars raised.Real estate marketThis context of seeking new opportunities and advancing technology leads to the emergence of developments throughout the country. Fernando Martínez, an investor for years in the real estate sector, launched Inpozo in recent months, a search engine that groups all the options of developers."The idea is to be a marketplace of well options, a kind of real estate development Trivago," Martínez explains to iProUP. The objective is to make visible proposals of the different companies in the same place. The idea came together with two partners, a publicist and a technology expert, as a website to group all market options."To choose we had to see on the Internet, in the newspaper, on the radio, so we did an excel with all the info and shaped the business model," Martínez reveals. The launch was in the province of Salta and in the coming weeks the firm plans to add developments in different cities in the country and even in Latin America.Unlike all platforms related to real estate, in Inpozo prices are published in pesos, whether for investments in a lot, an apartment, a condominium or a duplex.Typically, people disburse 30% or 40% of the property and during construction contribute the rest in installments updated by CAC. In recent months, the company has been seeing growth not only in consultations but also in contributions for small units; the lowest tickets, between $ 50,000 and $ 60,000."The investor is not that he is so interested in a real estate project, but that he finds the possibility of allocating pesos with which he cannot buy hard currency to retransform them in dollars in the future," he says.The platform has a chatbot to advise those interested, depending on whether it is for housing, investment or if it has a mortgage loan, among other variables. In that period of suggestions the user pays nothing. The platform's business model is based on subscriptions paid by developers to be visible.In 2020, in addition to expanding throughout the country, the option of real estate crowdfunding will be added. "We will add it since in the world this modality is at very high levels. Here, in the absence of mortgage loans, we notice that people have savings of between US $ 5,000 and US $ 30,000 and they will not put it in a fixed term with increasingly low rates. The developer is also suitable for funding. It is beneficial for both parties, "he concludes.