In real estate, February is usually a month with few seasonal sales. However, this year, The movement surprised entrepreneurs quite a bit. of the sector: there was a 27.3% more operations compared to February 2023. And 17% more than the previous month, according to the documents registered by the College of Notaries of the Federal Capital.
In the area of Province of Buenos Airesan ascending curve was also observed, although less pronounced: the increase was 8% on an annual basis, albeit with a better performance than in January.
The February data are certain of this relief to the marketafter starting the year in decline and facing uncertainty about how the real estate market may develop during 2024 in a recessionary and credit-lacking context.
In any case and despite The level of operations is half of those carried out in February 2018 (4,000 deeds monthly), the particular movement of this February encourages good expectations among real estate agencies.
The increase of 27.3% compared to the level of a year earlier concerned 2,213 registrations, while the total amount of transactions carried out increased by 447.5%, i.e. above inflation, to 169,632 million dollars. Compared to January 2024, the documents increased by 17.6%, since 1,882 documents were signed in the month of January, the institute specifies in a statement.
According to the president of the College of Buenos Aires, Jorge De Bártolo, yes “the best February of the last six years, even pre-pandemic. It’s a slight upward curve, a kind of step by step that clearly marks it the savings of families that focus on the most important thing, the roof,” he said.
“Seasonally, the first two months of the year are the least active; but this February had significant activity. Likewise, we are attentive to macroeconomic factors, “It would be a necessary incentive for the sector: when there was credit, we had double the operations,” Di Bártolo said.
Regarding the evolution of prices, although there are industry statistics that show slight increases, in the writings there is still a drop in dollars. The average amount of deeds was $76,652,849, which represents US$87,065 according to the average official exchange rate: it grew by 330% in one year in pesos, and in US currency it fell 2.9%.
According to Francisco Altgelt, president of the real estate company that bears his name: “a trend factor is that the trading percentage has decreasedPointing at it The publication prices (which have not fallen) are already close to the closing prices”commented.
Another data that the Buenos Aires statistics show is the number of operations carried out through mortgages. In a context of practically zero financing for this type of asset, in February, there was some 79 deeds formalized with mortgage. Therefore, the increase in this sense is 11.3% compared to the same month last year.
Regarding the recovery in the number of transactions in February, Altgelt says that “month after month” there is an improvement in the number of writes. “May this phenomenon repeat itself every month Evidently it is already a trend and it is clear that the market is active. Despite the supply has droppedthere is also an improvement in the number of property inquiries, which indicates this the question is active”He says.
Writings in the province of Buenos Aires
In the province of Buenos Aires the number of interventions was 4,593. This number, according to statistics compiled monthly by the College of Notaries of Buenos Aires, This is a year-over-year increase of 8% compared to the 4,253 transactions recorded in February 2023.
In turn, in the intermonthly comparison, the figure is 34% higher than the January values, since 3,422 acts were registered in that month. As for mortgages, in February there were 243, which represents a 34% increase compared to the previous month (182) and a year-on-year decrease of 58% (575 in February 2023).
“It is clear that observing growth numbers is always something to highlight and that this trend reflects variations that we hope will consolidate in the future. However, “We need to be cautious because the context and the fluctuating background of the previous months do not yet allow us to talk about a market recovery,” analyzed the president of the College of Notaries of the Province of Buenos Aires, Diego Leandro Molina.
According to his vision, “so that we can see a concrete and lasting reactivation An improvement is needed on various variables, always taking into account that the key factor will be access to mortgage credit, this allows for greater dynamism in the business, he added.
Source: Clarin
