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Properties. More property sales than in same period of 2022 - La Nación
Source:
July 25, 2023
Properties. The trend is confirmed and so far in all months of the year more properties have been sold than in the same period of 2022
Change of cycle? prospects anticipate property prices to recover slowly
A few days before the elections, with a dollar that is escalating at dizzying rates and an unstable macroeconomic context, the tendency would be for the real estate market to be at a standstill, however the numbers show signs of recovery . In the city of Buenos Aires, operations grew by 15% in this first semester compared to the first six months of last year , according to a recent report from the Buenos Aires Notaries Association.
In June the entity registered 3,320 deed signatures, a figure 10.5% higher than the 3,005 that had been carried out in June 2022. However, from May to June the trend was slightly downward with 1.7% fewer operations than the previous month. The average amount of the acts was $24,217,152 (US$93,021 according to the average official exchange rate): it grew 59.8% in one year in pesos, and in US currency it fell 21.5%.
The average price in the city is priced at US$2,151 per square meter , according to the June survey of Zonaprop, and in the first semester prices retracted 2.2%. They also highlight that brand new units are the most resilient while used ones are the ones that fall the most. In this sense, they observe that in the last 12 months the price registers a nominal fall of 5.5% and that it accumulates a drop of 23.2% from the maximum of 2019, returning to similar levels of September 2015.
“We closed the first semester with a 15% increase compared to 2022 . This encouraging data is consistent with the fact that all the months of this 2023 were positive compared to the previous one, something that had not happened in 2022 . And the pandemic curve up to here is in slow recovery. The data to note is that we are in a scenario of just over 100 monthly mortgages, with few incentives, and with a dollar price that creates uncertainty. We insist on the need to come together in a housing policy with stimuli to the sector, because that will indeed be a virtuous circle”, says Jorge De Bártolo, president of the city's College of Notaries.
"We closed the first semester with an increase of 15% compared to 2022," celebrated the president of the College of Buenos Aires Notaries
In another order, in the sixth month of the year there were 109 deeds formalized with a mortgage, 6.8% less than in June of last year and 6.4% less in the first semester accumulated (624 in total).
The data in the province of Buenos Aires
The upward trend is replicated in the province of Buenos Aires. In June, 8,572 sales were registered in the Buenos Aires territory, which represented a year-on-year increase in operations of 8.59%, according to the data released monthly by the Buenos Aires Notaries Association.
In turn, June showed a better performance than May, since 11.11% more purchase and sale operations were carried out compared to the previous month.
In June, 8,572 sales were registered in the Buenos Aires territory
“Beyond the positive values we saw in June, the general outlook for the real estate market continues to be uncertain and complex . However, we expect this trend to continue in the coming months and allow us to glimpse stability in the number of operations”, said the President of the Association of Notaries of the province of Buenos Aires, Diego Leandro Molina.
On the other hand, the total number of mortgages in June was 1,066, 7.24% more than the 994 in May. This value also represented a year-on-year increase of 28.28% (831 in June 2022).
www.buysellba.com
Source:
July 25, 2023
Properties. The trend is confirmed and so far in all months of the year more properties have been sold than in the same period of 2022
Change of cycle? prospects anticipate property prices to recover slowly
A few days before the elections, with a dollar that is escalating at dizzying rates and an unstable macroeconomic context, the tendency would be for the real estate market to be at a standstill, however the numbers show signs of recovery . In the city of Buenos Aires, operations grew by 15% in this first semester compared to the first six months of last year , according to a recent report from the Buenos Aires Notaries Association.
In June the entity registered 3,320 deed signatures, a figure 10.5% higher than the 3,005 that had been carried out in June 2022. However, from May to June the trend was slightly downward with 1.7% fewer operations than the previous month. The average amount of the acts was $24,217,152 (US$93,021 according to the average official exchange rate): it grew 59.8% in one year in pesos, and in US currency it fell 21.5%.
The average price in the city is priced at US$2,151 per square meter , according to the June survey of Zonaprop, and in the first semester prices retracted 2.2%. They also highlight that brand new units are the most resilient while used ones are the ones that fall the most. In this sense, they observe that in the last 12 months the price registers a nominal fall of 5.5% and that it accumulates a drop of 23.2% from the maximum of 2019, returning to similar levels of September 2015.
“We closed the first semester with a 15% increase compared to 2022 . This encouraging data is consistent with the fact that all the months of this 2023 were positive compared to the previous one, something that had not happened in 2022 . And the pandemic curve up to here is in slow recovery. The data to note is that we are in a scenario of just over 100 monthly mortgages, with few incentives, and with a dollar price that creates uncertainty. We insist on the need to come together in a housing policy with stimuli to the sector, because that will indeed be a virtuous circle”, says Jorge De Bártolo, president of the city's College of Notaries.
"We closed the first semester with an increase of 15% compared to 2022," celebrated the president of the College of Buenos Aires Notaries
In another order, in the sixth month of the year there were 109 deeds formalized with a mortgage, 6.8% less than in June of last year and 6.4% less in the first semester accumulated (624 in total).
The data in the province of Buenos Aires
The upward trend is replicated in the province of Buenos Aires. In June, 8,572 sales were registered in the Buenos Aires territory, which represented a year-on-year increase in operations of 8.59%, according to the data released monthly by the Buenos Aires Notaries Association.
In turn, June showed a better performance than May, since 11.11% more purchase and sale operations were carried out compared to the previous month.
In June, 8,572 sales were registered in the Buenos Aires territory
“Beyond the positive values we saw in June, the general outlook for the real estate market continues to be uncertain and complex . However, we expect this trend to continue in the coming months and allow us to glimpse stability in the number of operations”, said the President of the Association of Notaries of the province of Buenos Aires, Diego Leandro Molina.
On the other hand, the total number of mortgages in June was 1,066, 7.24% more than the 994 in May. This value also represented a year-on-year increase of 28.28% (831 in June 2022).
www.buysellba.com
