In line with the plateau experienced by real estate sales for three years, the values of the buying and selling market continue without finding a floor. So far this year the decline has averaged 5.6%. But when you look at the highs of 2019, prices accumulate a decline 20.7%according to an investigation by the real estate portal Zonaprop.
The issue raises uncertainty among those who have to define a transaction: you should sell or buy right now where the average price per square meter of an apartment in the city of Buenos Aires is 2,200 US dollars?
The drop in prices, according to the portal, is driven by two phenomena, new ads entering the market at a lower price that the supply stock is an incipient purge of old ads with outdated ratings.
The value of a studio apartment at CABA is US $ 96,269. A 50m2 one-bedroom apartment has a value of US $ 116,307. A 70m2 two bedroom apartment costs $ 163,740.
In October, 85% of neighborhoods experienced a drop in pricesHowever, the number of purchase and sale transactions in CABA shows a reactivation of the market compared to the previous year. In September of this year, the volume of the proceedings was 15% higher than the volume of 2021.
The price ranking by neighborhood is led by Puerto Madero (US $ 5,594 / m2), Palermo (US $ 2,948) and Belgrano (US $ 2,767). The cheapest neighborhoods in the city are Lugano (US $ 1,057), Nueva Pompeya (US $ 1,428) and La Boca (US $ 1,514), according to ZonaProp. Except Montserrat and Puerto Madero, all the districts of the city recorded year-over-year declines. Mataderos and Parque Avellaneda are those with the largest decline.
Sebastian Cantero, of TBSA Toro Brokers SA, believes it Today is a great buying opportunity. Both for developers who produce properties targeted to the profile of investors who buy to wait for the purchase of used cars that have very low prices compared to other years.
“Premium real estate has fallen by 30% and this is without credit. If credit existed in Argentina unit values would recover rapidly. Sometimes people don’t worry about paying more, but paying financed, “says the entrepreneur.” Today, new units are being sold for this reason; because they have extremely competitive prices. Not only for the local market, but also for Latin America, “he said.
According to the experts of Remax Premium, one of the franchises in the sector, «it’s good time to buy properties as they are listed today at low historical prices.Indeed, after three years of stagnation, operations have begun to recover, they say.
According to the brand, it happens that “with the blue dollar stabilized and the veracity of the value of the properties, sales have increased by 20% in the last three months, compared to the same period last year”, according to a survey carried out in the months. in August, September and October.
Furthermore, they explain in Remax, that “this happened, to a large extent, because” the owners were willing to lower their prices. “While in 2020 the distortion, the gap between the published value and the sales value was 30%, is dropped to 20% in the pandemic and is currently at 5%. “Everything was stabilizing due to the prices charged by real estate agencies trying to mediate between the seller’s aspirations and the buyer’s pocket,” said Ariel Champanier, who has insisted that “what is not at a price cannot be sold ”.
“We see the apartment with what has been sold since then what is offered is still well above the real value. The decline was seen in both new and used units, but the product that changed their value most was the apartments, as they are the ones with the most offers, ”said the real estate expert.
Identified the real estate trading portal, Properati the price of the most sought-after homes in the Buenos Aires Metropolitan Area (AMBA). And I found that these are the ones with an average value of US $ 85,000.
However, there are opportunities at much lower prices, such as a 2-bedroom apartment in Capital for $ 45,000, the experts said. According to broker Oscar Puebla, “There are properties at truly historic prices. The problem is that the portals are loaded with units that aren’t being sold and that distorts real values, “he said.
Source: Clarin
