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Boom in mortgage loans: sales of apartments from USD 60,000 predominate and interest in renting has decreased - Infobae
Source:
www.infobae.com
November 09, 2024
In the last two months, inquiries to real estate agencies have grown by 50% and those interested in buying are making more visits to properties. Demand for buying is increasing compared to renting in the different corridors of the suburbs
By Jose Luis Cieri
The sector improved in all corridors of the GBA and mortgage loans boosted the sector (Illustrative Image Infobae)
In a context of incipient recovery of the real estate market in Greater Buenos Aires (GBA) , mortgage loans are gaining renewed importance. According to industry experts, in recent weeks there has been greater dynamism in purchase and sale transactions, with growing interest in units from USD 60,000, mainly studio-, one- and two-bedroom apartments.
Inquiries to real estate agencies in the metropolitan area have grown by 50% in the last two months. Demand is concentrated on buying rather than renting, in a market with prices that have stopped rising at the same rate as at the beginning of 2024.
There are also more visits to properties by interested parties who currently rent and want to stop doing so and become owners.
Federico Vinelli , from Vinelli Inmobiliaria, told Infobae that demand in Tigre and San Isidro is leaning towards units around USD 200,000, “especially houses and PHs with deeds and approved plans.”
In these areas of the northern suburbs, interest remains strong. The offer still includes a limited stock of properties at “old” prices.
Two-beroom apartments and houses are among the preferred options in the Tigre district, in the northern area of the suburbs
“If everything continues as it is, we estimate that sales prices will increase in the coming months. I suggest that those who have already decided to buy do so as soon as possible to take advantage of the current market conditions,” added Vinelli.
In Villa Ballester, San Martín district, the impact of mortgage loans is growing, especially for properties near railway corridors. Properties close to the German school and in Ballester Oeste, with an axis on Congreso street, are highly sought after.
Alejandro Javier Altamirano , from Altamirano Properties, highlighted that currently a third of his sales are made with mortgage financing. “Demand has been growing month by month, with buyers who on average request up to 70% of the value of the property,” he said.
The most frequent transactions range from apartments for USD 60,000 for young people who are buying their first home, to houses for USD 250,000 for families looking to expand their business.
In Villa Ballester, operations by young people who acquire their first home through bank leverage are growing
Looking ahead to next year, Altamirano projected that more than half of its sales will be made through mortgage loans, which could drive a further rise in property values.
“It is a good time to buy, as there is still stock at current prices. We believe that this time mortgage credit is here to stay,” he added.
Luna Jáuregui , Marketing Manager of the Barón real estate agency, highlighted that in recent months they have received a significant increase in enquiries to invest through loans. “The procedure is quite agile: the operation can be completed in approximately 60 to 90 days,” she observed.
The operations range from studio apartments to one-bedroom apartments, both for first homes and investments.
Mortgage loan transactions are growing in Las Lomitas
Experts advise potential buyers to get adequate information and good advice before making the transaction. “The apartments that are selling the most in Lomitas start at USD 60,000 and up,” said Jáuregui.
In Avellaneda, the reactivation of mortgage loans is boosting operations in the center and in the residential areas of the district. There is a marked interest in house-type apartments, especially those that qualify for financing.
Fernando Gabriel Belvedere , from EFEBE Properties, observed that currently between 35% and 40% of transactions in the area are carried out through mortgage loans. “The average amount requested by buyers is between USD 90,000 and USD 110,000.”
View of the downtown area of Avellaneda
The most sought-after properties are those that combine a good location with a competitive price.
Belvedere mentioned a recent case in which a one-bedroom apartment, advertised at USD 75,000, was sold for USD 68,000 through a loan. Another example was a property in the center of Avellaneda that closed at USD 128,000, after having been offered at USD 135,000.
“We believe that mortgage lending will be important for what comes next. I advise buyers to take advantage of the current rates of 4.5% to 5% per year plus inflation, especially considering the escalation of prices in the rental market,” said Belvedere.
María Rodríguez Dávila , general manager of Matías Szpira Bienes Raíces, highlighted that “the most sought-after properties are two-bedroom houses for around USD 150,000 and one-bedroom apartments for around USD 70,000.”
Recent transactions there have mostly involved private banks. On average, the entire process, from reservation to signing of the deed, takes between two and three months. These sales are concentrated in properties whose value does not exceed USD 200,000, including both apartments and houses.
“We hope that in 2025 the time frame for credit processing will be faster, as long as economic conditions are favorable. I recommend that buyers obtain a credit pre-approval before starting their search to facilitate and speed up the process,” concluded Rodríguez Dávila.
www.buysellba.com
Source:
Boom de los créditos hipotecarios: predomina la venta de departamentos desde USD 60.000 y bajó el interés por alquilar
En los últimos dos meses, las consultas en inmobiliarias crecieron 50% y los interesados en comprar activan más visitas a los inmuebles. Aumenta la demanda de compra frente a la renta en los distintos corredores del conurbano
www.infobae.com
November 09, 2024
In the last two months, inquiries to real estate agencies have grown by 50% and those interested in buying are making more visits to properties. Demand for buying is increasing compared to renting in the different corridors of the suburbs
By Jose Luis Cieri
The sector improved in all corridors of the GBA and mortgage loans boosted the sector (Illustrative Image Infobae)
In a context of incipient recovery of the real estate market in Greater Buenos Aires (GBA) , mortgage loans are gaining renewed importance. According to industry experts, in recent weeks there has been greater dynamism in purchase and sale transactions, with growing interest in units from USD 60,000, mainly studio-, one- and two-bedroom apartments.
Inquiries to real estate agencies in the metropolitan area have grown by 50% in the last two months. Demand is concentrated on buying rather than renting, in a market with prices that have stopped rising at the same rate as at the beginning of 2024.
There are also more visits to properties by interested parties who currently rent and want to stop doing so and become owners.
Dynamism in the GBA
In the northern part of the GBA, the most expensive area to buy homes, there is greater dynamism in operations. The sector highlights that money laundering is also boosting activity.Federico Vinelli , from Vinelli Inmobiliaria, told Infobae that demand in Tigre and San Isidro is leaning towards units around USD 200,000, “especially houses and PHs with deeds and approved plans.”
In these areas of the northern suburbs, interest remains strong. The offer still includes a limited stock of properties at “old” prices.
Two-beroom apartments and houses are among the preferred options in the Tigre district, in the northern area of the suburbs
“If everything continues as it is, we estimate that sales prices will increase in the coming months. I suggest that those who have already decided to buy do so as soon as possible to take advantage of the current market conditions,” added Vinelli.
In Villa Ballester, San Martín district, the impact of mortgage loans is growing, especially for properties near railway corridors. Properties close to the German school and in Ballester Oeste, with an axis on Congreso street, are highly sought after.
Alejandro Javier Altamirano , from Altamirano Properties, highlighted that currently a third of his sales are made with mortgage financing. “Demand has been growing month by month, with buyers who on average request up to 70% of the value of the property,” he said.
The most frequent transactions range from apartments for USD 60,000 for young people who are buying their first home, to houses for USD 250,000 for families looking to expand their business.
In Villa Ballester, operations by young people who acquire their first home through bank leverage are growing
Looking ahead to next year, Altamirano projected that more than half of its sales will be made through mortgage loans, which could drive a further rise in property values.
“It is a good time to buy, as there is still stock at current prices. We believe that this time mortgage credit is here to stay,” he added.
Southern destination
In the southern area of GBA, especially in Las Lomitas, Lomas de Zamora district, mortgage loans are encouraging a greater number of buyers, in a context where interest in property investment continues to rise.Luna Jáuregui , Marketing Manager of the Barón real estate agency, highlighted that in recent months they have received a significant increase in enquiries to invest through loans. “The procedure is quite agile: the operation can be completed in approximately 60 to 90 days,” she observed.
The operations range from studio apartments to one-bedroom apartments, both for first homes and investments.
Mortgage loan transactions are growing in Las Lomitas
Experts advise potential buyers to get adequate information and good advice before making the transaction. “The apartments that are selling the most in Lomitas start at USD 60,000 and up,” said Jáuregui.
In Avellaneda, the reactivation of mortgage loans is boosting operations in the center and in the residential areas of the district. There is a marked interest in house-type apartments, especially those that qualify for financing.
Fernando Gabriel Belvedere , from EFEBE Properties, observed that currently between 35% and 40% of transactions in the area are carried out through mortgage loans. “The average amount requested by buyers is between USD 90,000 and USD 110,000.”
View of the downtown area of Avellaneda
The most sought-after properties are those that combine a good location with a competitive price.
Belvedere mentioned a recent case in which a one-bedroom apartment, advertised at USD 75,000, was sold for USD 68,000 through a loan. Another example was a property in the center of Avellaneda that closed at USD 128,000, after having been offered at USD 135,000.
“We believe that mortgage lending will be important for what comes next. I advise buyers to take advantage of the current rates of 4.5% to 5% per year plus inflation, especially considering the escalation of prices in the rental market,” said Belvedere.
Heading West
The second half of the year saw an upturn in mortgage loan transactions in Castelar and Ituzaingó, with an increase in inquiries for properties suitable for financing. Demand focused on homes in central areas or with quick access to highways, where buyers are looking to optimize their investment.María Rodríguez Dávila , general manager of Matías Szpira Bienes Raíces, highlighted that “the most sought-after properties are two-bedroom houses for around USD 150,000 and one-bedroom apartments for around USD 70,000.”
Recent transactions there have mostly involved private banks. On average, the entire process, from reservation to signing of the deed, takes between two and three months. These sales are concentrated in properties whose value does not exceed USD 200,000, including both apartments and houses.
“We hope that in 2025 the time frame for credit processing will be faster, as long as economic conditions are favorable. I recommend that buyers obtain a credit pre-approval before starting their search to facilitate and speed up the process,” concluded Rodríguez Dávila.
www.buysellba.com
