Real estate companies have known better times in terms of sales. However, they do not despise the movement – still small – that they have had during this year. The data for November indicate this the total number of real estate transactions in the area of the City of Buenos Aires increased by 18.5% from the level of a year earlier.
In the 11th month of the year, they added 3,369 records, while the total amount of transactions made rose 37.3% to $45,295 million. this level it is practically half compared to the acts that were done in November of the year 2017 (6805). But if you compare the eleven months of 2022 with the same period of 2021, they give an increase of 15.9% with 29,500 deeds, according to data reported by the College of Notaries of Buenos Aires.
The average amount of the deeds was $13,444,927 ($79,612 at the official average exchange rate): it grew by 15.9% in one year in pesos, and in dollars it fell by 27.4%. However, the transactions carried out with mortgages remain unchanged. In November, 148 deeds were formalized through this form of purchase. Therefore, the increase in this sense is 1.4% compared to the same month last year. When measuring the cumulative 11 months, the decline is 6.2% (1,299 mortgages).
According to the president of the College of Notaries of the City of Buenos Aires, Jorge De Bártolo: “with 11 months completedwe are reaching 30,000 operations and everything points to the whole year remaining at the pre-pandemic levels of 2019”he pointed.
“That is to say, a first reading indicates that we are resuming activity very gradually. On the other hand, we always observe that when there was mortgage credit -practically insignificant these days-, the levels double compared to the current numbers and this generates a whole virtuous chain for the real estate map,” said the benchmark of the notaries of Buenos Aires.
In the meantime, in the Province of Buenos Aires, the number of deeds of sale is already there That’s close to the 22-year average. According to the latest data available, the average of the series in the cumulative from January to October of each year is 83,222 transactions. And this year, with 71,550 in that period, they were 14.73% below that average.
“It is evident that in the Province the drop in prices has activated a greater demand than in the City of Buenos Aires. With an average ticket lower than that reported by the College of Notaries, it stands at 21,667 dollars per ticket”, analyzed the specialized site. Real estate report.
Four years of falling prices have already passed in Gran Bs As. The average decline in used apartments reached 41%, which is slightly more marked than what occurred in the rest of the country.
Source: Clarin
