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Real estate: The price of square meters continues to rise in CABA - Ambito
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Inmuebles: continúa el alza del metro cuadrado en CABA
Los inmuebles usados de 2 y 3 ambientes mostraron una suba del 2% el último trimestre. de acuerdo a un informe privado
www.ambito.com
August 26, 2024
Used 2 and 3 room properties showed a 2% increase in the last quarter, according to a private report
Real estate for sale. July was the best month in 6 years for the purchase and sale of real estate
Almost all neighborhoods in the City of Buenos Aires show increases in prices per square meter . Only 3 neighborhoods showed decreases in the last quarter.
According to a report by Reporte Inmobiliario, the dollar values of used 2 and 3-room apartments showed an average improvement of 2% during the last quarter in the City of Buenos Aires after the increase in the previous quarter had been very moderate (0.3%).
Compared to August last year, the average price per square metre increased by 2.9% year-on-year.
The average square meter value of standard quality used apartments without amenities in August was 1,580 USD/m2. In nominal terms, without affecting the m2 prices due to dollar inflation, the values are similar to those of mid-2011.
How much does it cost to buy a property in CABA?
To buy a 40 m2 studio apartment, you have to spend an average of 100,669 dollars, a 50 m2 two-room apartment costs 121,018 dollars and a 70 m2 three-room apartment costs 166,652 dollars.Most property sales transactions are in the range of US$100,000. In addition, mortgage loans are a major driving force in the market, especially for this range. New loans are one of the reasons why property listing prices are experiencing an upward trend.
Strong growth in the number of deeds
According to the latest data from the College of Notaries of Buenos Aires, July registered a significant increase in the total number of deeds, being the best month in 6 years . The entity reported that 4,946 acts were carried out, which represents an increase of 47.3% compared to the level of the previous year.In addition, the total amount of transactions carried out rose by 450.4%, to 437.194 billion pesos. Compared to June, the number of transactions rose by 16.9% (that month, 4,232 deeds were carried out).
In July, 225 mortgage deeds were registered , which represents an increase of 41.5% compared to the same month last year and 95.6% month-on-month.
“It is the best month of the last 74 months and with a slight boost we are going to enter into more than 5 thousand operations. In 7 months we registered 25,000 deeds of sale, but there is still a long way to go to talk about good years: in 2018 we had almost 36,000 accumulated operations, in 2007 almost 40,000 and in 98 -when there was a lot of mortgage credit- we had more than 42,000. Regarding mortgages, it is a clear indication that the credit wheel is starting to move, because although it is incipient, it marked almost double compared to the previous month”, said the president of the Notaries Association, Jorge De Bártolo.
"There are other factors that impact this climate of certain recovery: a tax such as the ITI, which taxed the seller at 1.5%, was eliminated and there are consultations about the money laundering approved by the Government. These are two measures that we believe will give another level to the activity," he added.
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