Mining Reshapes Real Estate Opportunities in San Juan and Mendoza

Mining development has repositioned San Juan and Mendoza back in the spotlight for real estate companies. Expectations are tied to the movement that copper, gold, and lithium projects could generate, along with demand for services and housing.

Grupo ECIPSA, based in San Juan, has completed 69 projects and maintains another 16 under construction in that corridor. Its president, Jaime Garbarsky, believes that the impact of mining activity will extend beyond the residential market to include transportation, hospitality, catering, and other services.

The prospect of expansion coexists with a real estate scenario that remains weak. Prices remain low, mortgage credit has limited participation, and rising construction costs pressure developers' margins.

According to Garbarsky, the premium segment operates with different dynamics since its buyers typically have their own resources and do not rely on mortgage financing. In contrast, the lack of financing limits access for households that need to purchase more moderately priced homes.

The entrepreneur also noted that the sector's evolution will depend on a broader economic recovery and greater credit availability. In this context, mining-linked provinces appear as markets with potential to expand real estate activity and associated services.