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What is the record figure that excites the real estate market and confirms the best moment in the last 6 years? - La Nacion Propieddes
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www.lanacion.com.ar
October 24, 2024
In a market that is slowly recovering, buying and selling operations show a revealing fact
By Maria Josefina Lanzi
The number of mortgage-backed sales transactions is exciting the real estate market Patricio Pidal
The real estate market continues to show signs of improvement and sales transactions are a testament to this. This was evidenced by the number of deeds registered in September in the City of Buenos Aires, which reached 5,157 sales , which implies an increase of 30.4% compared to the same month a year earlier and the best September in 6 years.
Although the figures fell by 2.7% compared to August, when 5,297 transactions were registered, the revealing fact that is encouraging to the sector is that the number of mortgage loan transactions increased by almost 70% compared to August . In that month there were 416 mortgage deeds carried out, while in September these transactions rose to 705 - a figure that implies almost 14% of the total transactions carried out in September. If the comparison is made year-on-year, this represents an increase of 317.2% compared to the same month last year , and 74.3% in the year to date (1,970 mortgage deeds in total).
“ The impact of mortgage loans is already beginning to appear and this translates into greater accessibility to housing ,” says José Rozados, director of Reporte Inmobiliario, adding: “For years, mortgage transactions represented 3% or 4% of operations, but today those numbers have almost quadrupled and risen to 14% , and that's just when the plane is taxiing, but when it takes off, the impact will be greater.” The specialist explains that when the lines of credit came out, they anticipated that they had to give the loans time to settle, so that the paperwork would be oiled in the banks and people would incorporate them, and now “they are already beginning to be noticed in the deeds.”
Purchase and sale transactions fell slightly in September, unlike in August, although they grew by 30% compared to the same month in 2023College of Notaries of the City of Buenos Aires
“Despite a slight year-on-year drop, we have again surpassed 5,000 deeds and we are confident that the last quarter will add more activity due to money laundering operations and a greater number of mortgages,” says Jorge De Bártolo, president of the College of Notaries of the City of Buenos Aires, and adds: “ Mortgage credit has been growing month by month and, if we measure it with respect to four months ago, there is a jump of 500%. The encouraging data is that there are 700 mortgages and we believe that this number has to rise considerably: that would lead to new sales.”
Brokers agree that the reason behind the good number of deeds is the attractiveness of prices and the exchange rate peace, elements that will make the remaining months of the year continue to be high in terms of sales operations. “ There are still logical prices, they are low values compared to the sales history , so it is not a bad time to buy,” says Soledad Balayan, owner of Maure Inmobiliaria, and adds: “The dollar has gone down again, it is super stable and the gap with the official rate is narrowing.” Fabián Achával, from the real estate agency of the same name, shares Balayan’s view and states that “in addition to the impact of mortgage loans, the main driver of sales has to do with the fact that prices are historically low.”
The City of Buenos Aires reached 5,157 purchase and sale transactions Shutterstock
In concrete numbers, the average amount of the acts was $93,987,235 (94,278 dollars according to the average official exchange rate): it grew 155.1% in one year in pesos and decreased 6.1% in US currency.
Indeed, mortgage credit has reached Argentines again after five years of almost no supply of this type of loan in the country. Thus, in 60 days, 21 banks have launched to offer these lines of credit. This implies new tools so that demand can access the long-awaited dream of “owning a home” , since, in the words of Federico González Rouco, an economist from the Empiria team, Hernán Lacunza’s consultancy firm: “ The only way to access scalable property , in the sense that it can be accessible to everyone, easy and solve a problem, is mortgage credit.”
“Credit will continue to boost sales,” Rozados anticipates, explaining that money laundering may also contribute, but it will be temporary, for a short period of time. “However, we must work to strengthen mortgage loans, so that this impact is also consolidated in the medium term.”
In September there were 705 deeds formalized with mortgageCollege of Notaries of the City of Buenos Aires
Recently, the procedure for adhering to money laundering , contemplated in Law 27,743, was regulated , which, in a few words, implies that people who have money under the mattress will be able to launder that capital and buy different assets, including real estate. The regulation allows regularizing up to US$100,000 without taxes, but higher than that amount progressive rates apply, unless it is destined for one of the investments authorized by the Ministry of Economy, such as, for example, investments in real estate projects. In that case , they can launder amounts without a limit and without penalty or taxes.
Other figures also show the interest in bricks and mortar : the supply of properties has fallen sharply in recent months. In the figures of the latest Radar Inmobiliario, prepared by Fabián Achával: “In July, Zonaprop recorded a reduction in available stock of 22.7% year-on-year, Argenprop a drop of 21%; the figures for September are down a little, when the year-on-year reduction in stock was 15.7% in Zonaprop and 17% in Argenprop”. In addition, regarding closing prices, he assures that “a reduction in negotiation percentages is observed, around 4% to 5%; they are converging again to the values that were the historical averages , which anticipates an upward cycle also in the different price segments”.
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View attachment 7884
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Créditos personales: un banco presta hasta $100 millones para remodelar tu casa con intereses que bajan en cada cuota
La nueva línea tiene un sistema de amortización que genera cuotas decrecientes en UVAs
www.lanacion.com.ar
October 24, 2024
In a market that is slowly recovering, buying and selling operations show a revealing fact
By Maria Josefina Lanzi
The number of mortgage-backed sales transactions is exciting the real estate market Patricio Pidal
The real estate market continues to show signs of improvement and sales transactions are a testament to this. This was evidenced by the number of deeds registered in September in the City of Buenos Aires, which reached 5,157 sales , which implies an increase of 30.4% compared to the same month a year earlier and the best September in 6 years.
Although the figures fell by 2.7% compared to August, when 5,297 transactions were registered, the revealing fact that is encouraging to the sector is that the number of mortgage loan transactions increased by almost 70% compared to August . In that month there were 416 mortgage deeds carried out, while in September these transactions rose to 705 - a figure that implies almost 14% of the total transactions carried out in September. If the comparison is made year-on-year, this represents an increase of 317.2% compared to the same month last year , and 74.3% in the year to date (1,970 mortgage deeds in total).
“ The impact of mortgage loans is already beginning to appear and this translates into greater accessibility to housing ,” says José Rozados, director of Reporte Inmobiliario, adding: “For years, mortgage transactions represented 3% or 4% of operations, but today those numbers have almost quadrupled and risen to 14% , and that's just when the plane is taxiing, but when it takes off, the impact will be greater.” The specialist explains that when the lines of credit came out, they anticipated that they had to give the loans time to settle, so that the paperwork would be oiled in the banks and people would incorporate them, and now “they are already beginning to be noticed in the deeds.”
Purchase and sale transactions fell slightly in September, unlike in August, although they grew by 30% compared to the same month in 2023College of Notaries of the City of Buenos Aires
“Despite a slight year-on-year drop, we have again surpassed 5,000 deeds and we are confident that the last quarter will add more activity due to money laundering operations and a greater number of mortgages,” says Jorge De Bártolo, president of the College of Notaries of the City of Buenos Aires, and adds: “ Mortgage credit has been growing month by month and, if we measure it with respect to four months ago, there is a jump of 500%. The encouraging data is that there are 700 mortgages and we believe that this number has to rise considerably: that would lead to new sales.”
Brokers agree that the reason behind the good number of deeds is the attractiveness of prices and the exchange rate peace, elements that will make the remaining months of the year continue to be high in terms of sales operations. “ There are still logical prices, they are low values compared to the sales history , so it is not a bad time to buy,” says Soledad Balayan, owner of Maure Inmobiliaria, and adds: “The dollar has gone down again, it is super stable and the gap with the official rate is narrowing.” Fabián Achával, from the real estate agency of the same name, shares Balayan’s view and states that “in addition to the impact of mortgage loans, the main driver of sales has to do with the fact that prices are historically low.”
The City of Buenos Aires reached 5,157 purchase and sale transactions Shutterstock
In concrete numbers, the average amount of the acts was $93,987,235 (94,278 dollars according to the average official exchange rate): it grew 155.1% in one year in pesos and decreased 6.1% in US currency.
Tailwind for real estate
"We are in a very favorable moment where there is a change in expectations, lower prices, mortgage loans, money laundering, exchange rate peace, which will lead to closing, without a doubt, the best year since 2018," anticipates Achával.Indeed, mortgage credit has reached Argentines again after five years of almost no supply of this type of loan in the country. Thus, in 60 days, 21 banks have launched to offer these lines of credit. This implies new tools so that demand can access the long-awaited dream of “owning a home” , since, in the words of Federico González Rouco, an economist from the Empiria team, Hernán Lacunza’s consultancy firm: “ The only way to access scalable property , in the sense that it can be accessible to everyone, easy and solve a problem, is mortgage credit.”
“Credit will continue to boost sales,” Rozados anticipates, explaining that money laundering may also contribute, but it will be temporary, for a short period of time. “However, we must work to strengthen mortgage loans, so that this impact is also consolidated in the medium term.”
In September there were 705 deeds formalized with mortgageCollege of Notaries of the City of Buenos Aires
Recently, the procedure for adhering to money laundering , contemplated in Law 27,743, was regulated , which, in a few words, implies that people who have money under the mattress will be able to launder that capital and buy different assets, including real estate. The regulation allows regularizing up to US$100,000 without taxes, but higher than that amount progressive rates apply, unless it is destined for one of the investments authorized by the Ministry of Economy, such as, for example, investments in real estate projects. In that case , they can launder amounts without a limit and without penalty or taxes.
Other figures also show the interest in bricks and mortar : the supply of properties has fallen sharply in recent months. In the figures of the latest Radar Inmobiliario, prepared by Fabián Achával: “In July, Zonaprop recorded a reduction in available stock of 22.7% year-on-year, Argenprop a drop of 21%; the figures for September are down a little, when the year-on-year reduction in stock was 15.7% in Zonaprop and 17% in Argenprop”. In addition, regarding closing prices, he assures that “a reduction in negotiation percentages is observed, around 4% to 5%; they are converging again to the values that were the historical averages , which anticipates an upward cycle also in the different price segments”.
www.buysellba.com
