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Property prices are rising: how much does it cost today to buy and register an apartment in CABA - Clarin
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www.clarin.com
November 05, 2024
Since mid-year, there has been an increase in the volume of deeds.
Neighborhood by neighborhood, what is asked for a one-bedroom apartment.
For those who evaluate the real estate market , whether to make an investment with savings , some taking advantage of money laundering, or to access a home through a mortgage loan , they wonder how much money they should have to be able to buy and register a property.
Two-room apartments , the most commonly offered properties in Capital Federal, are an opportunity for investors , as well as for young people or couples .
Buying and selling a property is often a challenging process because, in addition to having to gather all the necessary documentation, in addition to the value of the property , a series of extra expenses must be taken into account, which are divided between the buyer and the seller .
This increase began to be noticed in July , after minimum levels ranging between 3% and 6%. In addition, in September , the number of mortgage deeds represented 14% of the total, 4.2 times more than a year ago and 70% above the indicator for August 2024.
As for prices, according to a survey based on advertisements published by advertisers on the real estate portal Zonaprop, the average square meter rose 0.3% in October and stands at US$ 2,321 . In 2024, it has accumulated an increase of 6.6% and 7.2% since October 2023, the largest increase since December 2018.
Therefore, a 40 m2 studio apartment has an average price of US$ 102,267 , while a 50 m2 one-beroom apartment is priced at US$ 122,963 and a 70 m2 two-bedroom apartment is priced at US$ 169,082 .
What is the seller required to pay?
The sale of a property is subject to national and local taxes (of the City of Buenos Aires). In CABA, the seller must pay:
What is the buyer responsible for paying?
However, as clarified by the Notary Association, all of the above, based on the principle of autonomy of the parties' will, can be modified contractually. That is, if in a reservation (which is the first document signed in a real estate transaction) it is stipulated that all expenses, fees and taxes will be the responsibility of the purchasing party, it will be determined in that way and the expenses will be covered in that way.
In this regard, they recommend that before starting any type of property search, you should seek advice from a trusted notary.
How long does a deed take in CABA? According to the College of Notaries of CABA, it takes approximately 15 to 45 days . This period is valid when all the documentation is in order. Otherwise, it will take longer.
They clarified that both the sales contract and the transfer of rights are valid documents but not secure or definitive and can be revoked or terminated by actions of third parties.
As for the possession of the property, it must always be handed over at the time of signing the deed or previously. If for some reason the sellers need to stay a few more days, a loan for the necessary days is signed, and the sellers will remain in the property with the possession but the possession will already belong to the buyers.
www.buysellba.com
Source:
Sube el precio de las propiedades: cuánto cuesta hoy comprar y escriturar un departamento en CABA
Desde mitad de año se registra un aumento en el volumen de escrituras.Barrio por barrio, lo que se pide por un dos ambientes.
www.clarin.com
November 05, 2024
Since mid-year, there has been an increase in the volume of deeds.
Neighborhood by neighborhood, what is asked for a one-bedroom apartment.
For those who evaluate the real estate market , whether to make an investment with savings , some taking advantage of money laundering, or to access a home through a mortgage loan , they wonder how much money they should have to be able to buy and register a property.
Two-room apartments , the most commonly offered properties in Capital Federal, are an opportunity for investors , as well as for young people or couples .
Buying and selling a property is often a challenging process because, in addition to having to gather all the necessary documentation, in addition to the value of the property , a series of extra expenses must be taken into account, which are divided between the buyer and the seller .
Real estate market in CABA: how prices evolved
In September 2024, the volume of deeds in the City of Buenos Aires increased by 30.4% compared to the previous year, with a total of 5,157 signed. This is the best month since 2017 .This increase began to be noticed in July , after minimum levels ranging between 3% and 6%. In addition, in September , the number of mortgage deeds represented 14% of the total, 4.2 times more than a year ago and 70% above the indicator for August 2024.
As for prices, according to a survey based on advertisements published by advertisers on the real estate portal Zonaprop, the average square meter rose 0.3% in October and stands at US$ 2,321 . In 2024, it has accumulated an increase of 6.6% and 7.2% since October 2023, the largest increase since December 2018.
Therefore, a 40 m2 studio apartment has an average price of US$ 102,267 , while a 50 m2 one-beroom apartment is priced at US$ 122,963 and a 70 m2 two-bedroom apartment is priced at US$ 169,082 .
How much does a 1-bedroom apartment cost, neighborhood by neighborhood?
- Agronomia: US$ 106,947
- Chacarita: US$ 134,224
- Coghlan: US$ 133,751
- Paternal: US$ 103,551
- Parque Chas: US$ 120,341
- Saavedra: US$ 128,858
- Villa Crespo: US$ 123,811
- Villa Ortúzar: US$ 122,744
- Villa Urquiza: US$ 133,903
- Belgrano: US$ 159,057
- Colegiales: US$ 149,723
- Nuñez: US$ 155,759
- Palermo: US$ 168,629
- Recoleta: US$ 139,727
- Retiro: US$ 137,548
- Almagro: US$ 113,520
- Balvanera: US$ 89,911
- Caballito: US$ 122,677
- Flores: US$ 102,423
- Parque Chacabuco : US$ 114,910
- Constitucion: US$ 95,942
- Montserrat: US$ $109,769
- Puerto Madero: US$ 314,188
- San Nicolas: US$ 96,058
- San Telmo: US$ 109,264
- Monte Castro: US$ 102,144
- Villa Del Parque: US$ 110,020
- Villa Devoto: US$ 130,041
- Villa General Mitre: US$ 98,857
- Villa Pueyrredon: US$ 107,031
- Santa Rita: US$ 102,629
- Floresta: US$ 86,582
- Liniers: US$ 104,598
- Mataderos: US$ 95,717
- Parque Avellaneda : US$ 79,626
- Velez Sarsfield: US$ 92,488
- Versalles: US$ 93,651
- Villa Luro: US$ 109,750
- Villa Real: US$ 95,581
- Nueva Pompeya: US$ 72,883
- Lugano: US$ 51,612
- Villa Riachuelo: US$ 79,036
- Barracas: US$ 103,701
- Boedo: US$ 104,282
- La Boca: US$ 81,512
- Parque Patricios : US$ 92,991
- San Cristobal: US$ 95,877
How much does it cost to register a property and how long can it take in CABA?
As regards the value of fees and some remunerations, each is priced at a rate that includes a variable - based on the value of the property - and a fixed minimum, which is updated by the Board of Directors of the College of Notaries. Consequently, the seller must take charge of all expenses generated prior to the deed , while the buyer of those after the deed .What is the seller required to pay?
The sale of a property is subject to national and local taxes (of the City of Buenos Aires). In CABA, the seller must pay:
- Stamp duty: 1.8% of the property value.
- Half of the appraisal or VIR ( Real Estate Reference Value), whichever is higher. The other half is paid by the buyer, unless there are exceptions or an agreement between the parties (it represents 1.5% of the value of the property).
- If the seller is a legal entity (company or very specific cases of natural persons) they must pay profits (3%).
- Property taxes and expenses until the deed is completed, the registry certificates, the debt certificates, the title study (0.2%), and the procedure to obtain these certificates (0.2%).
What is the buyer responsible for paying?
- Notary fees (2% of the value of the property).
- All expenses generated by subsequent registration , fees (0.2%),
- Stamp duty: 1.8%. If the buyer acquires a property intended as a single-family home for permanent occupation, and it is proven that they do not own another property (with a special report from the Property Registry), $56,270,730 is deducted from the stamp duty value and 1.5% is paid on the balance.
However, as clarified by the Notary Association, all of the above, based on the principle of autonomy of the parties' will, can be modified contractually. That is, if in a reservation (which is the first document signed in a real estate transaction) it is stipulated that all expenses, fees and taxes will be the responsibility of the purchasing party, it will be determined in that way and the expenses will be covered in that way.
In this regard, they recommend that before starting any type of property search, you should seek advice from a trusted notary.
How long does a deed take in CABA? According to the College of Notaries of CABA, it takes approximately 15 to 45 days . This period is valid when all the documentation is in order. Otherwise, it will take longer.
They clarified that both the sales contract and the transfer of rights are valid documents but not secure or definitive and can be revoked or terminated by actions of third parties.
As for the possession of the property, it must always be handed over at the time of signing the deed or previously. If for some reason the sellers need to stay a few more days, a loan for the necessary days is signed, and the sellers will remain in the property with the possession but the possession will already belong to the buyers.
www.buysellba.com
