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How much?: Properties for sale had the highest price increase in 7 years - La Nacion Propiedades
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www.lanacion.com.ar
January 06, 2025
The square meter rose again in December and 2024 closed with the best numbers since 2017
By Maria Josefina Lanzi
Properties: 2024 was undoubtedly the year of the recovery of the real estate market with the increase in sales pricesricardo-pristupluk-11511
2024 was a period of good news for Argentine real estate and the December data confirmed the turning point that was experienced. Indeed, it was the year that saw the largest increase in the square meter of listing in the last seven years, since since 2017 - when UVA mortgage loans were booming in Argentina - there had been no increases of that level.
This was revealed by the latest Zonaprop report for 2024, which states that the average square meter in CABA was US$2,325 in December, which implies an annual increase of 6.8% in 2024 in listing prices. When explaining this increase in values, Fabián Achával, director of the eponymous real estate agency, points out that there is a strong change in expectations, an increase in demand for money laundering and the offer of mortgage credit, which is already driving almost 1,000 operations per month.
“In addition, prices remain historically low and, as if that were not enough, the exchange rate stability and the appreciation of the real exchange rate make this stability boost the entire real estate market even more,” adds the broker, who explains that every time the dollar jumps, the exchange rate moves or the gap widens, there is greater uncertainty, both for the seller and the buyer, so purchase decisions are postponed. On the contrary, when there is exchange rate stability, “the buyer becomes more encouraged and accelerates the purchase decisions.”
Indeed, sales transactions continue to grow and accumulated 5,755 deeds in November 2024, which implies an increase of 41.5% compared to the same month in 2023. These numbers speak of “32 consecutive months of year-on-year increase in transactions,” in the words of Jorge de Bártolo, president of the College of Notaries of CABA. Almost 17% of these sales were made with a mortgage (950), which indicates a year-on-year increase of 472.3%.
It is also worth noting that in the last three months this increase has slowed down, as it went from growing 1.2% in June, 0.7% in July or 0.6% in August and September, while the increase fell to increases of 0.3% in October, 0% in November and 0.2% in December. Achával adds that the increases are generalized, but that they are not the same in all segments. “Today we see price increases in all neighborhoods, but more pronounced in the lowest tickets and in the smallest apartments, where there is greater demand pressure from mortgage loans, the investor and the final consumer,” explains the broker .
The well apartments are those that registered the highest increases, something that can be explained by the increase in the cost of construction in dollars that grew by 52.7% in 2024. This is a phenomenon that worries the sector, since it generates a great disadvantage compared to used ones, which have lower values.
A 40 m² studio apartment in CABA is valued at an average of US$102,478 Dolores Pasman
If the price analysis is carried out for each neighbourhood , Puerto Madero continues to be the one with the highest values, with an average price per square metre of US$6021. Palermo and Belgrano are next in line, with average prices of US$3215/m² and US$3004/m², respectively. On the other hand, Lugano has the lowest values, with an average price of US$1007/m², followed by Nueva Pompeya (US$1394/m²) and Parque Avellaneda (US$1510/m²).
www.buysellba.com
Source:
¿Cuánto?: las propiedades en venta tuvieron la mayor suba de precio en 7 años
El metro cuadrado volvió a subir en diciembre y el 2024 cerró con los mejores números desde el 2017
www.lanacion.com.ar
January 06, 2025
The square meter rose again in December and 2024 closed with the best numbers since 2017
By Maria Josefina Lanzi
Properties: 2024 was undoubtedly the year of the recovery of the real estate market with the increase in sales pricesricardo-pristupluk-11511
2024 was a period of good news for Argentine real estate and the December data confirmed the turning point that was experienced. Indeed, it was the year that saw the largest increase in the square meter of listing in the last seven years, since since 2017 - when UVA mortgage loans were booming in Argentina - there had been no increases of that level.
This was revealed by the latest Zonaprop report for 2024, which states that the average square meter in CABA was US$2,325 in December, which implies an annual increase of 6.8% in 2024 in listing prices. When explaining this increase in values, Fabián Achával, director of the eponymous real estate agency, points out that there is a strong change in expectations, an increase in demand for money laundering and the offer of mortgage credit, which is already driving almost 1,000 operations per month.
“In addition, prices remain historically low and, as if that were not enough, the exchange rate stability and the appreciation of the real exchange rate make this stability boost the entire real estate market even more,” adds the broker, who explains that every time the dollar jumps, the exchange rate moves or the gap widens, there is greater uncertainty, both for the seller and the buyer, so purchase decisions are postponed. On the contrary, when there is exchange rate stability, “the buyer becomes more encouraged and accelerates the purchase decisions.”
Indeed, sales transactions continue to grow and accumulated 5,755 deeds in November 2024, which implies an increase of 41.5% compared to the same month in 2023. These numbers speak of “32 consecutive months of year-on-year increase in transactions,” in the words of Jorge de Bártolo, president of the College of Notaries of CABA. Almost 17% of these sales were made with a mortgage (950), which indicates a year-on-year increase of 472.3%.
Price behavior
It is interesting to note that although prices rose 6.8% in the last year, they had fallen by 24% between 2019 and 2023, so they still have a lot of growth to reach the 2018 values. Mortgage credit is a tool that could drive more sales and, therefore, an increase in values due to the rise in demand, since "the mortgage loan lines that came out this year pushed purchases and generated an acceleration in the volume of sales, helping to expand demand," shares Martín Boquete, director of Toribio Achával.It is also worth noting that in the last three months this increase has slowed down, as it went from growing 1.2% in June, 0.7% in July or 0.6% in August and September, while the increase fell to increases of 0.3% in October, 0% in November and 0.2% in December. Achával adds that the increases are generalized, but that they are not the same in all segments. “Today we see price increases in all neighborhoods, but more pronounced in the lowest tickets and in the smallest apartments, where there is greater demand pressure from mortgage loans, the investor and the final consumer,” explains the broker .
The well apartments are those that registered the highest increases, something that can be explained by the increase in the cost of construction in dollars that grew by 52.7% in 2024. This is a phenomenon that worries the sector, since it generates a great disadvantage compared to used ones, which have lower values.
How much does a studio, one-bedroom and two-bedroom apartment cost in the city of Buenos Aires?
In concrete numbers, a 40 m² studio apartment in CABA is priced at an average of US$102,478. One-bedroom apartments of 50 m² are priced at around US$123,123 and three-room apartments of 70 m² are listed for an average of US$169,385.
A 40 m² studio apartment in CABA is valued at an average of US$102,478 Dolores Pasman
If the price analysis is carried out for each neighbourhood , Puerto Madero continues to be the one with the highest values, with an average price per square metre of US$6021. Palermo and Belgrano are next in line, with average prices of US$3215/m² and US$3004/m², respectively. On the other hand, Lugano has the lowest values, with an average price of US$1007/m², followed by Nueva Pompeya (US$1394/m²) and Parque Avellaneda (US$1510/m²).
www.buysellba.com
