BuySellBA
Administrator
Slight rebound in closing transactions in Buenos Aires - Clarin
August 24, 2023
Taken from data from the College of Notaries of Buenos Aires for the month of July.
Deeds in the City of Buenos Aires (CABA) during July increased 6.9% compared to the same month last year.
By: Natalia Muscatelli
Real estate purchase and sale transactions in the city of Buenos Aires registered a rise of 6.9% in July, compared to the same period last year, according to the latest report from the Buenos Aires Notaries Association.
In July, 3,357 deeds of sale were made, compared to 3,138 in the same month of the previous year, and the amount involved was $78,008 million pesos, with an interannual increase of 39.3%, the survey indicated.
However, the number of operations that were carried out in July remains well below those that were carried out, for example, in the same month of 2017, when they totaled 5,311.
The average amount of the completed operations , in July of this year, meanwhile, was $23,237,639 equivalent to US$ 83,546; with which it rose 30.17% in one year in pesos, and in US currency it fell 36.8% due to the retraction in sales that the market has been experiencing in recent years.
"The data continues to show a growth of 15% so far this year, although we have entered a field of uncertainty in recent weeks with a rise in the price of the dollar," said the president of the College of Notaries, Jorge De Bártolo.
According to the manager, "the encouraging picture is that during all the months of this 2023 they were positive compared to the previous one, something that had not happened in 2022," he said.
www.buysell.com
In real estate they usually say that when the dollar remains still, the real estate market starts moving. And what happens exactly the other way around, when the currency fluctuates.
In other words, the jump in the exchange rate tends to generate caution among investors when making decisions. In fact, at the beginning of July, there were more queries according to the real estate agents. But, with the latest movements in the dollar, the market came to a standstill again, or at least in the case of operations that could be postponed.
For now, the oversupply of real estate continues to be a record and it is estimated that only in the City of Buenos Aires, there are 135,000 properties for sale.
Regarding the population's ability to purchase real estate, the head of the College reflected: "There have been more than four years where mortgages do not exceed 150 monthly operations and that is a socio-economic map that reflects the country," he added.
According to these statistics from the Buenos Aires College, in comparison with June there was a 1.1% rise in the number of operations, compared to the 3,320 completed in that month.
In July, there were 159 formalized deeds with a mortgage . Therefore, the increase in this sense is 19.5% compared to the same month last year. In the accumulated seven months, the decrease is 0.5% (783 in total).
www.buysellba.com
August 24, 2023
Taken from data from the College of Notaries of Buenos Aires for the month of July.
Deeds in the City of Buenos Aires (CABA) during July increased 6.9% compared to the same month last year.
By: Natalia Muscatelli
Real estate purchase and sale transactions in the city of Buenos Aires registered a rise of 6.9% in July, compared to the same period last year, according to the latest report from the Buenos Aires Notaries Association.
In July, 3,357 deeds of sale were made, compared to 3,138 in the same month of the previous year, and the amount involved was $78,008 million pesos, with an interannual increase of 39.3%, the survey indicated.
However, the number of operations that were carried out in July remains well below those that were carried out, for example, in the same month of 2017, when they totaled 5,311.
The average amount of the completed operations , in July of this year, meanwhile, was $23,237,639 equivalent to US$ 83,546; with which it rose 30.17% in one year in pesos, and in US currency it fell 36.8% due to the retraction in sales that the market has been experiencing in recent years.
"The data continues to show a growth of 15% so far this year, although we have entered a field of uncertainty in recent weeks with a rise in the price of the dollar," said the president of the College of Notaries, Jorge De Bártolo.
According to the manager, "the encouraging picture is that during all the months of this 2023 they were positive compared to the previous one, something that had not happened in 2022," he said.
www.buysell.com
In real estate they usually say that when the dollar remains still, the real estate market starts moving. And what happens exactly the other way around, when the currency fluctuates.
In other words, the jump in the exchange rate tends to generate caution among investors when making decisions. In fact, at the beginning of July, there were more queries according to the real estate agents. But, with the latest movements in the dollar, the market came to a standstill again, or at least in the case of operations that could be postponed.
For now, the oversupply of real estate continues to be a record and it is estimated that only in the City of Buenos Aires, there are 135,000 properties for sale.
Regarding the population's ability to purchase real estate, the head of the College reflected: "There have been more than four years where mortgages do not exceed 150 monthly operations and that is a socio-economic map that reflects the country," he added.
According to these statistics from the Buenos Aires College, in comparison with June there was a 1.1% rise in the number of operations, compared to the 3,320 completed in that month.
In July, there were 159 formalized deeds with a mortgage . Therefore, the increase in this sense is 19.5% compared to the same month last year. In the accumulated seven months, the decrease is 0.5% (783 in total).
www.buysellba.com
