Argentina Construction Trust Installment Calculator🇦🇷
The construction trust (fideicomiso de construcción) is the primary vehicle for buying off-plan or at-cost properties in Argentina. You join a group of buyers that collectively fund a development — each person is the sole beneficiary of one unit. Because you're paying construction costs rather than finished-market value, you typically save 30%–50% compared to buying a completed property in the same neighborhood. This calculator tells you two key numbers: (1) your flat monthly installment, and (2) how much you should have accumulated by now given the current construction progress. The comparison between what you've actually paid and what you should have paid is the fastest way to spot misalignment in a fideicomiso.
In an Argentine construction trust (fideicomiso al costo), your monthly installment = Total Property Value ÷ Total Installments. For example, a $80,000,000 property over 30 installments = $2,666,667/month. The amount you should have paid to date = Installment × (Progress% × Total Installments). At 50% construction progress you should have paid 50% of the total value.
When to use this calculator
- Verify how much you should have paid at today's construction progress — useful when you suspect a discrepancy
- Compare fideicomiso projects with different payment schedules before signing
- Plan cash flow for an off-plan purchase in Argentina before committing
- Understand the at-cost advantage vs. buying a finished property in the same building
- Audit installment invoices against the declared construction percentage
Worked example
- Property value: $80,000,000 ARS
- Total installments: 30
- Construction progress: 50%
- Monthly installment: $80,000,000 ÷ 30 = $2,666,667
- Installments due: 50% × 30 = 15
- Accumulated amount due: 15 × $2,666,667 = $40,000,000
How it works
2 min readHow the Construction Trust Installment Is Calculated
The formula is straightforward:
Monthly Installment = Property Value ÷ Total Installments
Accumulated Due = Monthly Installment × (Progress% × Total Installments)In practice, contracts often adjust installments by the CAC index (Índice de Costo de la Construcción, published by the Argentine Chamber of Construction). This calculator uses the base formula — always check your specific contract for inflation adjustments.
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Quick Reference Table: Common Scenarios
| Property Value | Installments | Monthly Installment | Due at 25% | Due at 50% | Due at 75% | Due at 100% |
|---|---|---|---|---|---|---|
| $40,000,000 | 24 | $1,666,667 | $10,000,000 | $20,000,000 | $30,000,000 | $40,000,000 |
| $80,000,000 | 30 | $2,666,667 | $20,000,000 | $40,000,000 | $60,000,000 | $80,000,000 |
| $120,000,000 | 36 | $3,333,333 | $30,000,000 | $60,000,000 | $90,000,000 | $120,000,000 |
| $200,000,000 | 48 | $4,166,667 | $50,000,000 | $100,000,000 | $150,000,000 | $200,000,000 |
| $350,000,000 | 60 | $5,833,333 | $87,500,000 | $175,000,000 | $262,500,000 | $350,000,000 |
> Note: These are base installments without CAC adjustment. Argentine construction costs historically adjust every 3–6 months.
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Understanding the Fideicomiso Structure
Argentina's Civil and Commercial Code (Arts. 1666–1700) governs fideicomisos. The key parties:
Fideicomiso Types in Argentina
| Type | Who Bears Cost Risk | Installment Adjustment | Price vs. Market |
|---|---|---|---|
| At-cost pure (al costo) | Buyers (full exposure) | Real construction costs (CAC) | −30% to −50% |
| Closed at-cost (techo pactado) | Shared with developer | CAC up to a cap | −15% to −30% |
| Turnkey (llave en mano) | Developer | Fixed price | −0% to −10% |
The at-cost model is cheapest but exposes you to budget overruns.
Key Risks to Monitor
When This Calculator Does Not Apply
Editorial note: Reviewed against Argentina's Civil and Commercial Code (Arts. 1666–1700), Cámara Argentina de la Construcción publications, and CNV regulations on fideicomisos. For legal or financial decisions, consult a contador público or escribano familiar with Argentine real estate trust law.
Frequently asked questions
What is a fideicomiso de construcción in Argentina?
A construction trust where multiple buyers collectively fund a development. Each buyer contributes installments (cuotas) proportional to the project cost and becomes the sole beneficiary of one specific unit. The trust patrimony is legally separate from the developer's assets under Arts. 1666–1700 of Argentina's Civil and Commercial Code, protecting your money if the developer faces financial trouble.
What does 'at cost' (al costo) mean?
You pay the actual construction cost rather than the finished-market price. This is typically 30%–50% cheaper than buying a completed equivalent property. The tradeoff: your installments may increase if construction costs rise (the CAC index typically adjusts them every quarter or semester).
How does the CAC index affect my installments?
The CAC (Índice de Costo de la Construcción) is published monthly by the Cámara Argentina de la Construcción. Many fideicomiso contracts adjust installments every 3–6 months by the accumulated CAC. In recent years this has meant 40%–100%+ annual increases on nominal installment values due to Argentine inflation.
How do I know if I have paid too much or too little vs. construction progress?
Compare the 'accumulated amount due' from this calculator with what you've actually paid. If you've paid significantly more than the due figure, you're ahead of construction pace and financing the developer's working capital. If you've paid less, you may have a catch-up obligation. Your contract should specify how deviations are handled.
What happens if the developer goes bankrupt?
In a properly registered fideicomiso, the trust patrimony is legally separate from the developer's estate (Art. 1685 CCyC). Your installments cannot be seized by the developer's creditors. If the fiduciario defaults, beneficiaries can appoint a new trustee to complete the project or liquidate. Always verify the trust is officially registered before signing.
When do I receive my property deed?
After construction is complete and the building receives its final inspection certificate (certificado de final de obra/habitabilidad), the trustee coordinates the property transfer and a notary (escribano) issues your deed. This typically takes 30–90 days after practical completion.
Can I exit the fideicomiso early?
Most contracts allow early exit but charge a penalty — typically 1 month of installments if you exit within the first year, or 1.5 months afterward. You must give advance written notice (usually 60–90 days). Consult your specific contract for exact terms.
Are installment increases capped?
Under DNU 70/2023, parties freely negotiate terms. There is no statutory cap on fideicomiso installment increases — adjustments are governed entirely by your contract's indexation clause. Before signing, check whether it's CAC, CPI, or another index, and how often it applies.
Do I need insurance during construction?
Construction insurance (seguro de obra) is typically mandatory and paid by the developer from trust funds. You should also ask about a completion guarantee (seguro de caución) that protects you if the project stops. Check both coverage amounts and beneficiary designations before signing.
Is buying via fideicomiso better than a mortgage (crédito UVA)?
They serve different situations. A fideicomiso works best when you have capital to pay installments over 24–48 months and can tolerate construction risk. A UVA mortgage is better if you need financing and want a ready-to-occupy property. In 2025–2026, active UVA origination has made mortgages more accessible — compare both options with a financial advisor.