The National Senate approved this Friday the Law of Inviolability of Private Property, a project promoted by the Government of Javier Milei that aims to strengthen legal security in Argentina and consolidate a more favorable framework for investment and economic development.
The initiative received 37 affirmative votes and 33 negative votes, with no abstentions. With this result, the project achieved preliminary approval and will now be addressed by the Chamber of Deputies.
In this way, the ruling party managed to gather the necessary support to advance with a regulation aimed at correcting historical distortions regarding private property.
The debate in the chamber was marked by marches and disturbances outside the Congress, where leftist and Kirchnerist activists attempted to create chaos to disrupt the session. Nevertheless, Milei's government secured the necessary votes to proceed with the reform, achieving an important step within its legislative agenda.
President Javier Milei
What the approved law establishes
The project introduces a series of changes aimed at reinforcing guarantees over private property and improving the functioning of the legal and real estate system in Argentina.
One of the central axes is the limitation of the State's expropriation power. The law establishes stricter criteria to justify these processes, requiring proof that they are necessary, proportional, and that there is no less burdensome alternative. Additionally, it guarantees compensations adjusted to the real market value and updated for inflation.
At the same time, the regulation seeks to streamline evictions in the face of illegal occupations, one of the main problems of the current system. To this end, it introduces the summary procedure, significantly reducing judicial timelines and providing greater predictability to property owners.
Another relevant point is the modernization of the real estate registration system. The project promotes the digitalization of procedures, the reduction of administrative times, and the creation of tools such as a Federal Unique Real Estate Window, aimed at facilitating operations, improving access to information, and fostering credit.
Javier Milei and Luis Caputo
Impact on the economy and investment
The approval of this law represents a decisive advance to reverse decades of legal insecurity that have affected the arrival of investments to the country.
Without stable rules of the game and without guarantees over property, it is impossible to consolidate a sustained process of economic growth. In this sense, the reform aims to create a more reliable environment for those who produce, invest, and generate employment.
With the preliminary approval in the Senate, the Law of Inviolability of Private Property now begins its path in the Chamber of Deputies, where the ruling party will seek to achieve its final approval.
If successful, it would be one of the most important structural reforms of the current government, with a direct impact on legal security, the real estate market, and the investment climate in Argentina.
