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Bs As wakes up: August, the best month of the year for real state - La Nación Propiedades
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www.lanacion.com.ar
September 25, 2023
The reasons that explain the good performance of the real estate market
In Buenos Aires, the best August in five years was recorded in terms of deeds
With the presidential elections just around the corner, Argentines carry devastating inflation on their shoulders while breathing air of uncertainty. In this context, the real estate purchase and sale market attracts the conservative investor profile, and it is possibly its reputation for safeguarding value that encourages its activity.
This confidence in brick was evident in the records of home sales in the city of Buenos Aires: in August, 4,135 deeds were carried out, which represented an increase of 32.7% compared to the level of a year ago, according to the College of Notaries porteño.
“It may be a striking figure, but - in the month of greatest volatility - it was the best record of the year. Despite these uncertainties, all months have been positive compared to the same periods in 2022 and there is a cumulative total of 23,400 operations, compared to 20,000 last year,” said Jorge De Bartolo, president of the city's Escribanos College. In line with signs of improvement, August also recorded a month-on-month improvement, as it surpassed July's performance by 23.2%, when 3,357 properties had been deeded.
A fact to celebrate is that the purchase and sale of real estate in the city had the best August in the last five years. In this way, it exceeded the 2,964 in 2019, 1,604 in 2020, 2,518 in 2021 and 3,117 last year. In that sense, it was very close to reaching 4,567 in 2018, the year in which prices reached their maximum peaks.
August registrations exceeded those of July by 23.2%
Although the best number of the year is a reason to celebrate, De Bartolo said that: “In any case, we have to work multisectorally so that whoever governs takes stability and a policy of access to housing as their banner: the Argentine highly values the family roof ”.
The need to shelter the value of savings in an unstable context is not the only driver that drove operations. From Reporte Inmobiliario, they analyze that the drop in values in recent years may have contributed to the reactivation of the market. They pointed out that the reduction in values accumulated until the last quarter 17 consecutive quarterly periods of falls, although in the last two quarters these falls had been negligible or almost zero (-0.3% in both quarters).
“It is the third consecutive year of year-on-year growth in the number of operations and the August figure having been above the values of the years 2012-2013-2014 and 2015 (before the stocks); There is no doubt that the sharp drop in property values will continue to drive demand in the City,” analyzed Germán Gomez Picasso, director of Real Estate Report.
Specialists affirm that the drop in values in recent years may have contributed to reactivating the market
“There are neighborhoods that are beginning to attract attention due to the attractiveness of their average offer values for used property, such as Boedo, Flores or San Telmo among others with properties for less than US$1,400 per m². Without a doubt, this fact is also generating a slight improvement in the quantities of sales that have been arranged in recent months and leading values to rise in a still moderate way,” added the specialist.
Property values showed signs of recovery in the last quarter
Sales values have already accumulated three consecutive months of increases according to Real Estate Report reports. “The prices in dollars at which used two- and three-bedroom apartments are published showed an increase of 1.9% during the last quarter in the City of Buenos Aires,” warns one of the latest reports.
For reference, the average square meter value of standard quality used apartments without amenities based on the survey that Reporte Inmobiliario carries out quarterly was US$1,536 per square meter in August.
www.buysellba.com
Source:
Propiedades: la ciudad despierta: agosto fue el mejor mes del año y el de los últimos cinco años
Los motivos que explican la buena peformance del mercado inmobiliario
www.lanacion.com.ar
September 25, 2023
The reasons that explain the good performance of the real estate market
Properties: the city wakes up: August was the best month of the year and the best month of the last five years
In Buenos Aires, the best August in five years was recorded in terms of deeds
With the presidential elections just around the corner, Argentines carry devastating inflation on their shoulders while breathing air of uncertainty. In this context, the real estate purchase and sale market attracts the conservative investor profile, and it is possibly its reputation for safeguarding value that encourages its activity.
This confidence in brick was evident in the records of home sales in the city of Buenos Aires: in August, 4,135 deeds were carried out, which represented an increase of 32.7% compared to the level of a year ago, according to the College of Notaries porteño.
“It may be a striking figure, but - in the month of greatest volatility - it was the best record of the year. Despite these uncertainties, all months have been positive compared to the same periods in 2022 and there is a cumulative total of 23,400 operations, compared to 20,000 last year,” said Jorge De Bartolo, president of the city's Escribanos College. In line with signs of improvement, August also recorded a month-on-month improvement, as it surpassed July's performance by 23.2%, when 3,357 properties had been deeded.
A fact to celebrate is that the purchase and sale of real estate in the city had the best August in the last five years. In this way, it exceeded the 2,964 in 2019, 1,604 in 2020, 2,518 in 2021 and 3,117 last year. In that sense, it was very close to reaching 4,567 in 2018, the year in which prices reached their maximum peaks.
August registrations exceeded those of July by 23.2%
Although the best number of the year is a reason to celebrate, De Bartolo said that: “In any case, we have to work multisectorally so that whoever governs takes stability and a policy of access to housing as their banner: the Argentine highly values the family roof ”.
The need to shelter the value of savings in an unstable context is not the only driver that drove operations. From Reporte Inmobiliario, they analyze that the drop in values in recent years may have contributed to the reactivation of the market. They pointed out that the reduction in values accumulated until the last quarter 17 consecutive quarterly periods of falls, although in the last two quarters these falls had been negligible or almost zero (-0.3% in both quarters).
“It is the third consecutive year of year-on-year growth in the number of operations and the August figure having been above the values of the years 2012-2013-2014 and 2015 (before the stocks); There is no doubt that the sharp drop in property values will continue to drive demand in the City,” analyzed Germán Gomez Picasso, director of Real Estate Report.
Specialists affirm that the drop in values in recent years may have contributed to reactivating the market
“There are neighborhoods that are beginning to attract attention due to the attractiveness of their average offer values for used property, such as Boedo, Flores or San Telmo among others with properties for less than US$1,400 per m². Without a doubt, this fact is also generating a slight improvement in the quantities of sales that have been arranged in recent months and leading values to rise in a still moderate way,” added the specialist.
The recovery of prices
The number of operations is not the only indicator with a positive balance within the real estate universe. The wind is also blowing in favor of property values, as specialists have been talking for months now that prices have hit rock bottom and that the market has entered the cycle change phase.
Property values showed signs of recovery in the last quarter
Sales values have already accumulated three consecutive months of increases according to Real Estate Report reports. “The prices in dollars at which used two- and three-bedroom apartments are published showed an increase of 1.9% during the last quarter in the City of Buenos Aires,” warns one of the latest reports.
For reference, the average square meter value of standard quality used apartments without amenities based on the survey that Reporte Inmobiliario carries out quarterly was US$1,536 per square meter in August.
www.buysellba.com
