The real estate market is experiencing some changes that are keeping marketers on edge. On the one hand, real estate agencies see a decrease in the supply of properties, which is good news for the sector: it takes less time to sell. But also, actual selling pricesnot those published which always suffer the effects of “negotiation” in operations, They are showing signs of recovery.
The closing price index created by University of CEMA and RE/MAX Argentina in collaboration with Real estate reportshowed an increase in February 4.56% compared to the previous month. In relation to the price per square meter (m2) of the same month last year, the value of sales of used 1 to 3 room apartments in the city of Buenos Aires appreciated by 5.8%. Of course, compared to January 2020, when the series began, the current value is 16% lower.
This index is prepared with information from concrete values in which operations on the real estate market are agreed.
By analyzing the properties based on the number of environments, in studio apartments, a price of US$ 2,015 per m2 was recordedwhile the closing value of the shares of 2 and 3 bedrooms cost US$1,785 and US$1,740, respectively.
According to this survey, the gap between the value per square meter of transactions carried out in December 2023, compared to the last published value of the property, commonly known as The counteroffer range averaged –5.98%. And it is precisely the two-room apartments that present the smallest gap (5.59%).
According to the Real Estate Radar prepared by the Research and Consulting Department of Fabián Achával Propiedades, Closing values stopped their decline in 2023. The latest report – in March – highlighted that ““It is the first time in four years that the price per square meter has not decreased”.
According to this information which collects data from the main sales platforms, in the last quarter of the year the trading percentage was 7.7%. The decline in price per m2 accumulated since the beginning of 2019 was 33% in nominal terms and 44.7% taking into account dollar inflation. “This places the real estate sector in an opportunity zone, even more so when taking into account the exorbitant increase in construction costs,” analyzes the real estate agency.
Anyway, There is still a significant percentage of ads running outside of price. According to ZonaProp data, in January, 18% of available real estate ads have been revalued. It was the best percentage in the last two years and the average price reduction was 7.1%according to Achaval.
What happens to property prices within the country?
In the last quarter, the value per m2 in dollars of all 11 inland locations that Reporte Inmobiliario has surveyed on a quarterly basis since 2008 it appreciated by 3.18% in dollars, exhausting the interannual increase at 13.45% and after 10 consecutive quarters of increases.
“Although the evolution was differential depending on the location in question, compared to the highs recorded in May 2019 for those same locations, the current average value is still 31.21% lower than that peak,” the analysts concluded.
According to the specialized site, “The interior of the country was the first to show this recovery in values measured in dollars after the sharp decline that has occurred since 2021. In fact, there is still potential for improvement as values managed to hit an all-time low measured in dollars.”
Source: Clarin
