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Property sales prices had the biggest increase in 6 years - Infobae
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Los precios de venta de las propiedades tuvieron el mayor aumento en 6 años
El valor promedio del metro cuadrado en las publicaciones de las unidades en CABA registró el mayor incremento mensual en los últimos 6 años
www.lanacion.com.ar
June 04, 2024
Property sales prices had the biggest increase in 6 years
The average value of the square meter in the publications of the units in CABA registered the largest monthly increase in the last 6 years
Prices of properties for sale in CABA continue to increase
In a scenario in which the real estate market is gradually being reactivated , and with the hope that with the announcement by 15 banks of the return of mortgage credit in Argentina , the average publication value of the square meter in the The City of Buenos Aires recorded the largest monthly increase since April 2018 , and broke the 1% barrier so far this year, according to the latest Zonaprop report .
In this sense, the published value increased by 1.1% in May, compared to the previous month, and stands at US$2,243, after the increase in April was 0.8% and in March it was 0. 4%.
Regarding the increase so far this year, the average prices per square meter have accumulated an increase of 3% and 4.2% since the change in trend in July 2023. Recording that brand new apartments are the ones with the highest go up This trend can be explained by the increase in construction costs in dollars , which is a factor that directly drives the price of brand new units, which was 30% so far in 2024. Building today costs 2.8 times more than what it cost in October 2020 - the minimum of the series - and 25% above the 2012-2023 period.
Brand new apartments are the ones that show the greatest increases in their sales prices.Century Town Center
At the same time, a key fact to take into account about why the price per square meter has increased is that the portal recorded a 56% increase in demand for the purchase of real estate in the City, compared to May 2023.
In concrete numbers, a one-room, 40m² apartment costs US$99,196 for sale, while a two-room, 50m² apartment has a value of US$118,854 and a three-room, 70m² apartment costs US$163,338, on average in CABA.
The most expensive and cheapest neighborhoods to buy
According to the report, in the fifth month of the year, 85% of all Buenos Aires neighborhoods registered a monthly increase in sales values , while in terms of the interannual comparison, 74% presented an increase and 26 % remains low : with Palermo, Colegiales and Villa Crespo in the lead, with 8%, 7.8% and 6.9% increases respectively; while, on the opposite side, Vélez Sarfield (-2.7%), Villa Riachuelo (-3.9%) and Lugano (-5.3%) decreased their sales values.In this way, the cheapest and most expensive are included as follows :
The most expensive neighborhoods to buy a house
- Puerto Madero: US$5891/m²
- Palermo: US$3147/m²
- Belgrano: US$2868/m²
The cheapest neighborhoods to buy a house
- Lugano: US$976/m²
- New Pompeii: US$1,366/m²
- Villa Riachuelo: US$1446/m²
The neighborhoods with average values in CABA
- Saavedra: US$2349/m²
- Chacabuco Park: US$2037/m²
- Parental: US$1953/m²
- Agronomy: US$1916/m²
- Villa Real: US$1776/m²
Sale price in each of the Buenos Aires neighborhoods
Investment Property
For those interested in buying an apartment as an investment and using it for rent, the profitability is 4.77% annually . Therefore, it takes 21 years of rental to recover the investment, 1% less than what was required a year ago.In this sense, Lugano continues as the neighborhood with the highest percentage of profitability for investors seeking income, with an average return of 7.3%. This is followed by: La Boca (6.4%) and Parque Avellaneda (6.1%). %). While Palermo (3.9%), Belgrano (4.1%) and Retiro (4.1%) are the ones with the lowest profit.
The profitability in May 2024 is located at 4.77% annually
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