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Record number of deeds in the province of Buenos Aires: almost 20,000 properties were sold in December
Source:
www.infobae.com
January 21, 2025
It is the best record in the last 7 years, according to the College of Notaries of Buenos Aires. Credit played a key role and the reappearance of mortgages is advancing
By Jose Luis Cieri
In total, the province closed 2024 with a cumulative total of 114,018 purchase and sale transactions, marking a reversal of the negative trend of recent years (Illustrative Image Infobae)
The real estate market in the Province of Buenos Aires closed 2024 with promising results and the best performance for the month of December in the last 7 years. According to figures reported by the Notary Association of the Province of Buenos Aires, 19,513 deeds were formalized in December, a figure that represented a year-on-year increase of 48.63% compared to the 13,129 transactions recorded during the same month in 2023.
This performance marked December as the month of greatest real estate activity of the entire year , with a significant month-on-month increase of 59.16%, compared to the 12,260 deeds in November 2024.
"December not only marked the highest values of the year, as usually happens, but also confirmed a sustained growth in sales and mortgage activity," Guillermo Longhi , president of the College of Notaries of Buenos Aires, assured Infobae .
During 2024, the cumulative number of real estate purchase and sale transactions amounted to 114,018 in the province, which represents an increase of 19% compared to the 95,551 carried out in 2023. This level of transactions has not been recorded since 2017, a period to which the last peak of high numbers in the sector dates back: in December of that year, 20,521 total transactions were made and 4,960 for mortgages .
The deeds surveyed for December 2024 are similar to the historical levels of 2006 (19,688) and 2011 (19,681), outstanding levels. The end of the year is positioned among the best real estate performances of the last 20 years .
Source: College of Notaries of the Province of Buenos Aires
Longhi explained that “beyond the ups and downs that our economy always has, if access to mortgage credit is consolidated and a certain stability is maintained, we can think of solid growth in operations for the coming months . ”
The upturn in the mortgage market played a key role in this renewed dynamism. In December, 2,049 mortgages were registered , which is equivalent to an exceptional increase of 381% compared to the mere 426 carried out in December 2023. This also represented an increase of 44.60% compared to the previous month.
According to the College, "the increase in the number of mortgages is an encouraging figure that reflects the impact of a greater supply of credit ," Longhi stressed.
Source: College of Notaries of the Province of Buenos Aires
In cumulative terms, 8,551 mortgages were registered during the year , an increase of 18% compared to the figures for 2023.
Although he acknowledged that mortgage loans have not yet been granted on a massive scale, he mentioned that they are being channelled to specific sectors, such as bank employees or workers with payroll accounts.
"We are beginning to see a movement especially in lower value units, ranging from USD 30,000 to USD 70,000, both for investment and for genuine housing ," added Líbera.
Apartments in private neighborhoods and plots of land intended to be built by their owners within the year were also sold . The values are different in both cases.
For example, in the urbanizations of Greater Buenos Aires, three-room apartments usually start at USD 130,000 and up.
Two-bedroom houses are among the types of properties that were most sold in 2024 in the province of Buenos Aires
Industry experts also highlighted that December tends to be particularly active for seasonal reasons, as many families choose to close operations before the end of the year.
Looking ahead, the outlook also seems encouraging. Líbera said that new proposals are being evaluated that could further boost the market, such as divisible mortgages , financing through purchase and sale vouchers, and some recent fiscal stimuli, such as the elimination of the ITI (Property Transfer Tax) for certain minimum prices. The effect of money laundering on the sector will also be known this year.
According to Líbera, "we are moving towards a period of greater fluidity with slight upward adjustments in prices ," although he warned that it is still too early to talk about a sustained boom in the sector.
www.buysellba.com
Source:
Récord de escrituras en la provincia de Buenos Aires: en diciembre se vendieron casi 20.000 inmuebles
Es el mejor registro en los últimos 7 años, según el Colegio de Escribanos bonaerense. El crédito jugó un rol clave y avanza la reaparición de las hipotecas
www.infobae.com
January 21, 2025
It is the best record in the last 7 years, according to the College of Notaries of Buenos Aires. Credit played a key role and the reappearance of mortgages is advancing
By Jose Luis Cieri
In total, the province closed 2024 with a cumulative total of 114,018 purchase and sale transactions, marking a reversal of the negative trend of recent years (Illustrative Image Infobae)
The real estate market in the Province of Buenos Aires closed 2024 with promising results and the best performance for the month of December in the last 7 years. According to figures reported by the Notary Association of the Province of Buenos Aires, 19,513 deeds were formalized in December, a figure that represented a year-on-year increase of 48.63% compared to the 13,129 transactions recorded during the same month in 2023.
This performance marked December as the month of greatest real estate activity of the entire year , with a significant month-on-month increase of 59.16%, compared to the 12,260 deeds in November 2024.
"December not only marked the highest values of the year, as usually happens, but also confirmed a sustained growth in sales and mortgage activity," Guillermo Longhi , president of the College of Notaries of Buenos Aires, assured Infobae .
During 2024, the cumulative number of real estate purchase and sale transactions amounted to 114,018 in the province, which represents an increase of 19% compared to the 95,551 carried out in 2023. This level of transactions has not been recorded since 2017, a period to which the last peak of high numbers in the sector dates back: in December of that year, 20,521 total transactions were made and 4,960 for mortgages .
The deeds surveyed for December 2024 are similar to the historical levels of 2006 (19,688) and 2011 (19,681), outstanding levels. The end of the year is positioned among the best real estate performances of the last 20 years .
Source: College of Notaries of the Province of Buenos Aires
Longhi explained that “beyond the ups and downs that our economy always has, if access to mortgage credit is consolidated and a certain stability is maintained, we can think of solid growth in operations for the coming months . ”
The upturn in the mortgage market played a key role in this renewed dynamism. In December, 2,049 mortgages were registered , which is equivalent to an exceptional increase of 381% compared to the mere 426 carried out in December 2023. This also represented an increase of 44.60% compared to the previous month.
According to the College, "the increase in the number of mortgages is an encouraging figure that reflects the impact of a greater supply of credit ," Longhi stressed.
Source: College of Notaries of the Province of Buenos Aires
In cumulative terms, 8,551 mortgages were registered during the year , an increase of 18% compared to the figures for 2023.
Causes of progress
Economic stabilization and a more predictable financial market were key to this performance. Mirta Líbera , president of the Real Estate Chamber of the Province of Buenos Aires (CIBA), indicated that “lower inflation and a calm dollar created favorable conditions in the market . ”Although he acknowledged that mortgage loans have not yet been granted on a massive scale, he mentioned that they are being channelled to specific sectors, such as bank employees or workers with payroll accounts.
"We are beginning to see a movement especially in lower value units, ranging from USD 30,000 to USD 70,000, both for investment and for genuine housing ," added Líbera.
Apartments in private neighborhoods and plots of land intended to be built by their owners within the year were also sold . The values are different in both cases.
For example, in the urbanizations of Greater Buenos Aires, three-room apartments usually start at USD 130,000 and up.
Two-bedroom houses are among the types of properties that were most sold in 2024 in the province of Buenos Aires
Industry experts also highlighted that December tends to be particularly active for seasonal reasons, as many families choose to close operations before the end of the year.
Looking ahead, the outlook also seems encouraging. Líbera said that new proposals are being evaluated that could further boost the market, such as divisible mortgages , financing through purchase and sale vouchers, and some recent fiscal stimuli, such as the elimination of the ITI (Property Transfer Tax) for certain minimum prices. The effect of money laundering on the sector will also be known this year.
According to Líbera, "we are moving towards a period of greater fluidity with slight upward adjustments in prices ," although he warned that it is still too early to talk about a sustained boom in the sector.
www.buysellba.com
