BuySellBA
Administrator
Property prices drop, while operations continue to rise - La Nación Propiedades
Source:
www.lanacion.com.ar
November 03, 2023
Instability and uncertainty affect the real estate market and the value per square meter in apartments drops while operations continue to rise
Candelaria Reinoso Taccone
Modificar imagen
The property market is also affected by the political context and the crisis that the country is going through two weeks before the ballot and prices in the negotiations between publication and sale continue to fall.
In a country as changing as Argentina, where the economy is constantly in the center of attention, the real estate sector is not exempt from ups and downs. After a period of three continuous months of recovery, a drop was observed in the real value of the square meter for apartments in the Autonomous City of Buenos Aires (CABA) during the month of September, with an average decrease of almost 5% . This data, revealed by the collaborative index developed by the University of CEMA, RE/MAX Argentina and Reporte Inmobiliario, sheds light on a trend influenced by the political context and the crisis that the country is going through two weeks before the second round.
This index is constructed monthly from the real prices agreed upon in real estate transactions and their comparison with the average sales price per square meter that is published in the market . The data collection covers apartment sales operations since 2020 for studio, 1- and 2-bedroom units.
Modificar imagen
The 1- and 2-bedroom units were sold at an average closing price of US$1,629/m² and US$1,631/m², respectively.
The report for the month of September showed an average decline of 4.92% in the general index , with 1- and 2-bedroom units being the main responsible for this decrease, since they were sold at lower prices during that month. In contrast, studio units experienced a recovery in their sales value of 2.7%, always in dollar bills.
When prices are broken down according to the number of rooms, it stands out that transactions for studio apartments were carried out at an average of US$1,885 per square meter . In contrast, 1- and 2-bedroom units sold at an average closing price of US$1,629/m² and US$1,631/m², respectively.
The difference between the value per square meter of transactions carried out in September 2023 and the last published price of the properties, commonly known as the negotiation margin , stood at an average of 6.59% . In this context, studio units stand out, since they showed the smallest gap with 5.43% , coinciding with an improvement in their valuation. On the other hand, the 1-bedroom units presented a gap of 6.43%, while the 2-bedroom units had a gap of 7.08%.
The buying and selling trend in the city of Buenos Aires
Modificar imagen
In September, a total of 3,954 purchase and sale operations were registered in the city of Buenos Aires.
Added to this drop in property values is the fact that, in recent weeks, buying and selling operations seem to have not lost momentum , despite the marked uncertainty. Transaction records continue to increase, and in September a total of 3,954 purchase and sale operations were completed in the city of Buenos Aires, which represents an increase of 25.1% compared to September of the previous year , according to data provided by the College of Notaries of the city.
“The scenario is really complicated to interpret,” says Germán Gómez Picasso, founder of Reporte Inmobiliario. “I believe that the elections and the strong devaluations that we are experiencing have led owners to be willing to reduce prices even further in September , which has continued to generate sales at exceptional levels, the highest in the last 25 years, excluding months marked by economic restrictions and the pandemic,” comments the expert. Furthermore, he adds that the future will largely depend on the results of the elections and the evolution of the exchange rate. “ What the year 2024 holds in terms of prices is practically an uncertainty ,” concludes Gómez Picasso.
Modificar imagen
In the market there is agreement that Argentina “is given away” in real estate matters.
Other leaders in the sector also argue that current prices are the underlying cause of a “real estate summer. ”This justification helps to understand why the number of apartments for sale is decreasing. “When we evaluate the platforms, we see that there are approximately 30% fewer ads than a year ago, which translates to about 78,000 ads. In fact, appraisals are scarce,” explains Soledad Balayan, director of Maure Propiedades. In short, in the market there is agreement that Argentina “is given away” in real estate matters.
On the other hand, experts affirm that sales values have reached their lowest point and that there is a growing demand , which includes those who have been postponing their decision to move and those who, faced with the difficulty of acquiring dollars, choose to invest. their weights in real estate, taking brick as a refuge of value.
www.buysellba.com
Source:
Bajan los precios de las propiedades: ¿hasta cuánto se “pelea” para concretar la operación?
La inestabilidad y la incertidumbre afectan al mercado inmobiliario y baja el valor por metro cuadrado en los departamentos mientras las operaciones continúan en ascenso
www.lanacion.com.ar
November 03, 2023
Property prices drop: How much do you “fight” to complete the operation?
Instability and uncertainty affect the real estate market and the value per square meter in apartments drops while operations continue to rise
Candelaria Reinoso Taccone
The property market is also affected by the political context and the crisis that the country is going through two weeks before the ballot and prices in the negotiations between publication and sale continue to fall.
In a country as changing as Argentina, where the economy is constantly in the center of attention, the real estate sector is not exempt from ups and downs. After a period of three continuous months of recovery, a drop was observed in the real value of the square meter for apartments in the Autonomous City of Buenos Aires (CABA) during the month of September, with an average decrease of almost 5% . This data, revealed by the collaborative index developed by the University of CEMA, RE/MAX Argentina and Reporte Inmobiliario, sheds light on a trend influenced by the political context and the crisis that the country is going through two weeks before the second round.
This index is constructed monthly from the real prices agreed upon in real estate transactions and their comparison with the average sales price per square meter that is published in the market . The data collection covers apartment sales operations since 2020 for studio, 1- and 2-bedroom units.
The 1- and 2-bedroom units were sold at an average closing price of US$1,629/m² and US$1,631/m², respectively.
The report for the month of September showed an average decline of 4.92% in the general index , with 1- and 2-bedroom units being the main responsible for this decrease, since they were sold at lower prices during that month. In contrast, studio units experienced a recovery in their sales value of 2.7%, always in dollar bills.
When prices are broken down according to the number of rooms, it stands out that transactions for studio apartments were carried out at an average of US$1,885 per square meter . In contrast, 1- and 2-bedroom units sold at an average closing price of US$1,629/m² and US$1,631/m², respectively.
The difference between the value per square meter of transactions carried out in September 2023 and the last published price of the properties, commonly known as the negotiation margin , stood at an average of 6.59% . In this context, studio units stand out, since they showed the smallest gap with 5.43% , coinciding with an improvement in their valuation. On the other hand, the 1-bedroom units presented a gap of 6.43%, while the 2-bedroom units had a gap of 7.08%.
The buying and selling trend in the city of Buenos Aires
In September, a total of 3,954 purchase and sale operations were registered in the city of Buenos Aires.
Added to this drop in property values is the fact that, in recent weeks, buying and selling operations seem to have not lost momentum , despite the marked uncertainty. Transaction records continue to increase, and in September a total of 3,954 purchase and sale operations were completed in the city of Buenos Aires, which represents an increase of 25.1% compared to September of the previous year , according to data provided by the College of Notaries of the city.
“The scenario is really complicated to interpret,” says Germán Gómez Picasso, founder of Reporte Inmobiliario. “I believe that the elections and the strong devaluations that we are experiencing have led owners to be willing to reduce prices even further in September , which has continued to generate sales at exceptional levels, the highest in the last 25 years, excluding months marked by economic restrictions and the pandemic,” comments the expert. Furthermore, he adds that the future will largely depend on the results of the elections and the evolution of the exchange rate. “ What the year 2024 holds in terms of prices is practically an uncertainty ,” concludes Gómez Picasso.
In the market there is agreement that Argentina “is given away” in real estate matters.
Other leaders in the sector also argue that current prices are the underlying cause of a “real estate summer. ”This justification helps to understand why the number of apartments for sale is decreasing. “When we evaluate the platforms, we see that there are approximately 30% fewer ads than a year ago, which translates to about 78,000 ads. In fact, appraisals are scarce,” explains Soledad Balayan, director of Maure Propiedades. In short, in the market there is agreement that Argentina “is given away” in real estate matters.
On the other hand, experts affirm that sales values have reached their lowest point and that there is a growing demand , which includes those who have been postponing their decision to move and those who, faced with the difficulty of acquiring dollars, choose to invest. their weights in real estate, taking brick as a refuge of value.
www.buysellba.com
