BuySellBA
Administrator
Sales improve more
November 23, 2023
In October, 4,559 deeds of sale were carried out in the City of Buenos Aires, a figure that is surprising, approaching the best years of the series. Light at the end of the tunnel?
As reported by the CABA Notaries College, the total number of real estate purchase and sale deeds registered an increase of 53.3% in the tenth month of 2023 compared to the level of a year before, adding 4,559 records, while the total amount of transactions carried out grew by 371.7%, with $191,250 million.
The average amount of the acts was $41,950,154: it grew 207.7% in one year in pesos.
To find similar figures you have to go back to the years of Macri's UVA credit boom. For example, in October 2018, 3,671 deeds had been made.
The average for October since 1998 is 4,813 writings, so the figure for October this year is very much in line with the historical average of the last 25 years.
It must be taken into account that these are operations closed in the middle of the electoral process, even with many doubts about how it could end, although an economic change was already taken for granted. We must also be realistic and recognize that sales slowed down mainly due to the low price level that the local real estate market had been showing.
“These are data from the month of October, and they mark a line of three months of a higher volume than the rest and consolidate a quarter of practically more than 4 thousand monthly operations. There are almost 32 thousand purchase and sale deeds in all of 2023: that glass half full gives an increase of 22% in the accumulated of the 10 months compared between 2023 and 2022. Another positive fact is that we add 18 months of interannual growth. It is a year and a half of not comparing negatively with the previous period, and it gives some peace of mind to detach yourself from a period of 3 or 4 years of decline. Our greatest desire is to work together to collaborate with the new elected Government on a comprehensive housing policy. We must work for that stability and growth,” said Jorge De Bártolo, President of the Escribanos School.
November 23, 2023
In October, 4,559 deeds of sale were carried out in the City of Buenos Aires, a figure that is surprising, approaching the best years of the series. Light at the end of the tunnel?
As reported by the CABA Notaries College, the total number of real estate purchase and sale deeds registered an increase of 53.3% in the tenth month of 2023 compared to the level of a year before, adding 4,559 records, while the total amount of transactions carried out grew by 371.7%, with $191,250 million.
The average amount of the acts was $41,950,154: it grew 207.7% in one year in pesos.
To find similar figures you have to go back to the years of Macri's UVA credit boom. For example, in October 2018, 3,671 deeds had been made.
The average for October since 1998 is 4,813 writings, so the figure for October this year is very much in line with the historical average of the last 25 years.
It must be taken into account that these are operations closed in the middle of the electoral process, even with many doubts about how it could end, although an economic change was already taken for granted. We must also be realistic and recognize that sales slowed down mainly due to the low price level that the local real estate market had been showing.
“These are data from the month of October, and they mark a line of three months of a higher volume than the rest and consolidate a quarter of practically more than 4 thousand monthly operations. There are almost 32 thousand purchase and sale deeds in all of 2023: that glass half full gives an increase of 22% in the accumulated of the 10 months compared between 2023 and 2022. Another positive fact is that we add 18 months of interannual growth. It is a year and a half of not comparing negatively with the previous period, and it gives some peace of mind to detach yourself from a period of 3 or 4 years of decline. Our greatest desire is to work together to collaborate with the new elected Government on a comprehensive housing policy. We must work for that stability and growth,” said Jorge De Bártolo, President of the Escribanos School.
