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The Real estate market is reactivated: Which are the most sought-after apartments - El Cronista
Source:
June 30, 2024
Smaller, credit-eligible units are the stars of the market. Which neighborhoods are in highest demand and where can you achieve the best resale value?
With a May that was the best of the last five years in terms of deeds , the real estate sector seems to be leaving years of bad news behind. And now the sector is already preparing for takeoff . The return of mortgage loans, the interest of investors and the possibility of a money laundering promise that returning to the numbers of 2018 is not just an illusion.
"The real estate market is showing clear signs of reactivation and growth . With increasing demand and the implementation of mortgage loans, the opportunities for buyers and investors are promising ," says Verónica Pagola, CEO of Century 21 Argentina.
According to the specialists consulted, the novelty is that for the first time in a long time there is movement in all segments of the market . It is true that the most sold units are one and two-room units , but it is also true that the demand for larger apartments has grown .
One of the causes of this phenomenon is that demand was retained . On the one hand, the pessimistic outlook on the economy kept away potential buyers. On the other hand, those who were wanting to take the leap and expand saw that prices were falling and did not want to pay dearly for not knowing how to wait .
Upward trend
"Today, the fall in listing prices has stopped and there is a slight upward trend . What has ended are those counteroffers that at times were up to 20% less than the asking price. We have returned to historical levels of between 3% and 5% ," adds Juan Ignacio Mel, owner of Mel Properties.Today, if listed at the correct price, a unit takes three to five months to sell . Not much longer than the historical average of two to four months.
There are still close to 100,000 units for sale in the city of Buenos Aires
However, the stock in the city of Buenos Aires is high . On the main real estate portals there are about 100,000 properties available for sale. There is still a lot to be sorted out, say those in the sector .
"We are optimistic because there is an important change compared to 2023. Mortgage loans can give impetus to the market, but they are not yet influencing. The big star that we are all waiting for now is the money laundering. I think that is going to underpin the year, the values "They are going to adjust upwards and the stock is going to go down ," adds Diego Migliorisi, partner at Migliorisi Propiedades.
The most demanded
The most sought-after areas continue to be the traditional ones in the northern corridor : Palermo, Belgrano, Núñez and Villa Urquiza. Added to these are Caballito and the so-called spillover neighborhoods such as Almagro, Villa Crespo, Chacarita and Saavedra , where better opportunities can be found.For those who want to buy as an investment, the ideal is a two-room apartment . They are the ones that are rented the fastest and, also, the most in demand in the purchase and sale market, they explain.
"In any case, in a market that is recovering, what is bought today will have a significant capital gain in two years. I don't think it will be like 2001, when prices were at rock bottom. But little by little they will recover to the values they had in 2019 ," concludes Migliorisi.
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