With a slight upward trend but that does not mark a recovery in the market, the total number of works for the sale of real estate -in April- registered an increase of 10.7% compared to the level a year before, when 2566 registrations were added, while the total value of transactions executed climbed 96.5%, with $ 41,888 million. To have a notion of the situation of the sector, it is enough to remember that in April 2018, the number of works exceeded 6,000.
The data correspond to the College of Notaries of the City of Buenos Aires. In a report, the entity also stressed that compared to March 2022, operations grew by 8.7%, since 2,361 works were signed in March.
the average value in events held in April was $ 16,324,411 (that is, $ 137,538 according to the standard official exchange rate): it grew by 77.4% a year on the peso, and in the US currency it added 47.28%.
On the other hand, in a market marked by the lack of access to mortgage credit, in April, there was only 115 works formally with a mortgage, which means a decrease of 13.5% compared to the same month last year. In the four -month period, 438 mortgages total and represents a decrease of 14.4%.
According to Jorge De Bártolo, president of the College of Notaries of Buenos Aires, “we closed the first quarter with a cycle that doesn’t end clearly, as two months are positive and two are down compared to 2021. But we should always look at the broad series and that indicates that we are at a very low level of activity ”, he concludes.
According to the manager, “this small month-on-month increase is encouraging, but we should also point out that there are no incentives to close operations and this is a trend that has been happening for four years. And he commented that the sector does not stop at “looking at alternatives that make an exit for the sector”, he commented.
In the province of Buenos Aires, meanwhile, the real estate market also did not recover, despite the upward trend in April. “These kinds of variations in statistics not yet enough to talk about reactivation. These are routine movements in market dynamics and, beyond being positive numbers, higher growth is needed to speak in terms of recovery “, explained when these statistics were released, the President of the College of Notaries of the Province of Buenos Aires, Diego Molina.
According to the leader, the lack of mortgage credit, both in the public and private sectors, is a limitation for large sectors of society to access the real estate market.
At the provincial level, figures are presented in April a year-on-year increase of 4.49%, with a total of 7,280 salescompared to 6,967 registered in April 2021.
Source: Clarin
