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In Oct. 2019, real estate 17th month of consecutive decline - Clarin
November 27, 2019
The average amounts of the operations fell 18.8% in dollars, which could be an indication of the drop in prices.
Deeds fell 14% in October compared to the same month in 2018. Photo: Marcelo Carroll.
The real estate sector accumulated its 17 year-on-year drop in October. According to the College of Buenos Aires Notaries, last month 3,152 deeds were made. This represents a drop of 14.1% compared to October 2018. However, against September purchases rose 9.8% compared to the previous month.
The 3,152 deeds that were signed in October totaled $19,956 million, an increase of 12.4% compared to October 2018 and 2.5% compared to last month.
The average value of the transactions was $6,331,532, an annual increase of 31%. In dollars, it was an average of US$ 103,192 (an 18.8% drop that can be aligned with a drop in property values since the market calm.
For its part, the percentage of deeds with mortgage credit over the total increased from 8.7% to 12.2% in one year.
"There are 17 months of consecutive year-on-year decline and the trend of the last two months of the year makes us imagine that 2019 will be, along with 2014, the two lowest records in our historical series," said Carlos Allende, president of the College of Notaries of The city of Buenos Aires.
If the accumulated value of the first 10 months is measured, the market drop is 41.7%.
"These first 10 months of bank mortgages registered 2,578 cases, and it is a drop of 79.2% compared to 2018. It continues to be the lowest accumulated period in the historical series," the entity said in a statement.
www.buysellba.com
November 27, 2019
The average amounts of the operations fell 18.8% in dollars, which could be an indication of the drop in prices.
Deeds fell 14% in October compared to the same month in 2018. Photo: Marcelo Carroll.
The real estate sector accumulated its 17 year-on-year drop in October. According to the College of Buenos Aires Notaries, last month 3,152 deeds were made. This represents a drop of 14.1% compared to October 2018. However, against September purchases rose 9.8% compared to the previous month.
The 3,152 deeds that were signed in October totaled $19,956 million, an increase of 12.4% compared to October 2018 and 2.5% compared to last month.
The average value of the transactions was $6,331,532, an annual increase of 31%. In dollars, it was an average of US$ 103,192 (an 18.8% drop that can be aligned with a drop in property values since the market calm.
For its part, the percentage of deeds with mortgage credit over the total increased from 8.7% to 12.2% in one year.
"There are 17 months of consecutive year-on-year decline and the trend of the last two months of the year makes us imagine that 2019 will be, along with 2014, the two lowest records in our historical series," said Carlos Allende, president of the College of Notaries of The city of Buenos Aires.
If the accumulated value of the first 10 months is measured, the market drop is 41.7%.
"These first 10 months of bank mortgages registered 2,578 cases, and it is a drop of 79.2% compared to 2018. It continues to be the lowest accumulated period in the historical series," the entity said in a statement.
www.buysellba.com
