BuySellBA
Administrator
May closed with the highest number of deeds in CABA in the last 65 months - Infobae
Source:
Mayo cerró con la mayor cantidad de escrituras en CABA en los últimos 65 meses
Se registraron más de 4.500 operaciones de compraventa de inmuebles por un monto de $346 mil millones
www.infobae.com
June 26, 2024
More than 4,500 real estate purchase and sale operations were registered for an amount of $346 billion
Acquisition, buy, sell, rent, mortgage loans (Illustrative Image Infobae)
During May of this year, 4,590 deeds of purchase and sale of real estate were carried out in the Autonomous City of Buenos Aires , 36% more than in the same month last year, according to a report published by the College of Notaries of CABA . This is the highest value recorded in the last 65 months, according to the organization's historical data.
In addition, the operations involved an amount of $346,713 million, a value that represented a nominal growth of 400.3% in relation to May 2023. In that same period, the accumulated inflation was 276.4%, from which it follows that the The sector's turnover grew in real terms.
According to what was reported by the College of Notaries, the average amount of the acts was $75,536,614 (81,430 dollars according to the average official exchange rate), which represents a nominal growth of 268% in one year in pesos, but a drop of 4.4% measured in dollars.
On the podium of the decade
A brief review of the data from the last decade allows us to understand how good the month of May was for the real estate sector of the City of Buenos Aires. According to information shared by the College of Notaries, to find a better result in that period we must go back to 2018. That year, the fifth month left a balance of 5,944 deeds.A year earlier, in May 2017, 5,103 operations had been registered. Outside of those exceptions (2017 and 2018), there is no history in the last decade of a level of deeds as high as that registered in the fifth month of this year. In fact, from the year of the pandemic (2020) until today, the trend was always increasing.
“We have two reasons to see a better outlook. May was the best in the last 65 months, after the peak of the mortgage boom in 2018. But at that time there was still an influence of credits and today that still has no impact. But we are expectant due to the number of banks that have already launched their mortgage proposals, so we are convinced that - if they are carried out - with this push the market would have a clear growth effect," explained Jorge De Bártolo, president of the College. of Notaries of the City of Buenos Aires.
The numbers confirm the trend analyzed by Bártolo. Last May there were only 141 deeds formalized with a mortgage, so the increase in that sense is 5.2% compared to the same month last year. In the first 5 months, with 509 mortgage transactions, a decrease of 1.2% was recorded.
Queries grow
The new mortgage loans revitalized the sector and in real estate agencies, inquiries grew to inquire about homes that mostly average between USD 100,000 and USD 120,000 located in different neighborhoods of the city of Buenos Aires and Greater Buenos Aires.Fabián Achával , who runs Radar Inmobiliario and is the owner of Fabián Achával Propiedades, told Infobae that mortgage loans are excellent news for the residential market, used for their multiplier effect on the demand for real estate. “Although we still need to observe the volume of loans distributed to measure their real impact on activity, our forecast is optimistic,” he said.
In April 2023, Real Estate Report noted that the price per square meter increased in studio apartments and varied slightly in two- and three-bedroom apartments, with decreases of 0.33% and 0.12% respectively, while the largest units experienced a drop of 1.6% year-on-year.
Last April, it was observed that studio apartments reached the highest prices per m2, progressively decreasing with the increase in the number of rooms. The value for studio apartments stood at USD 2,106, while for two, three and four room units the average prices were USD 1,835, USD 1,719 and USD 1,628 per m2 respectively.
www.buysellba.com
