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The data that reveals why it is time to buy a property - La Nacion Propiedades
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Los datos que revelan por qué es el momento de comprar una propiedad
Las operaciones de compraventa registradas en marzo se posicionan como las más altas de los últimos cinco años
www.lanacion.com.ar
May 2, 2024
The purchase and sale operations registered in March are positioned as the highest in the last five years
Property sales in the city grow in the third month of the year and mark the best March in five years
After the first two months of the year recorded a drop in the total number of property sale deeds with 1,882 in January and 2,213 in February, after an end of the year marked by 4,560 acts in December 2023, and despite the political and economic fluctuations with which 2024 began, in March the real estate market registered a significant increase : it added 3,399 registrations - 53% more than the previous month and 18.3% compared to the level of a year before. For its part, the total amount of transactions carried out rose 347% compared to the same month of the previous year, with $300,553 million, according to the city's College of Notaries .
These numbers encourage the expectations of the sector, since they reflect being the best March in the last five years . The property buying and selling market continues to experience favorable conditions , recovering from the pandemic debacle, when the prices at which a sale ended up closing collapsed by more than 35%.
In the third month of the year, the average amount of operations was $88,418,261 ( US$98,758 according to the average official exchange rate): it grew 277.9% in one year in pesos, and in US currency it fell 11.3% % .
“If we analyze the volume of the quarter, it is the best in the last six years and is consistent with the variations that we have been observing and is encouraging data. In fact, there is a growth of 16% compared to the same period last year . But we insist on the recovery capacity that the real estate market would have upon returning mortgage credit : the last time there was a stimulus for purchases, the level of operations was double what we have today (almost 15,000 in 2018 versus 7,500 in 2024). , that is why we emphasize that loans of this nature are virtuous,” says Jorge De Bártolo, president of the College.
Comparison of the number of purchase and sale deeds in the first quarter of 2023 and 2024
When making the comparison with the deeds formalized with a mortgage, in the third month of the year there were 106 deeds. Therefore, the decrease in that sense is 4.5% compared to the same month last year. And the quarter, with 254, represents a decrease of 2.3%. If a historical analysis is carried out, it is evident that when there is availability of mortgage credit , the real estate market experiences notable growth .
For example, in the first quarter of 2018 when UVA loans were booming, of more than 14,500 operations carried out, almost 6,000 involved mortgages. Credit not only facilitates transactions, but also generates a multiplier effect : those who buy with financial help sell to others, who in turn reinvest in the market.
Now, with the new mortgage credit lines launched by two banks in the country , sector analysts are hopeful that this news will accelerate the sale of properties, after five years of almost non-existence.
Deeds with mortgages in the first quarters of the last 23 years
The data in the province of Buenos Aires
Regarding data from the province , the March numbers were also encouraging: with 7,251 operations , 9.3% more than in March of last year and 36% over the previous month. Low values continue to drive purchases by end users and investors. In this case, the total amount of transactions carried out was $270,938 million , 32.55% more than in February.www.buysellba.com
