In February, the house sales market in AMBA is down for the seventh consecutive month, while the apartment sales market has been in retraction since October 2019.
The situation of the sale of real estate
In the breakdown by sector. Month-on-month falls are observed in CABA and Greater Buenos Aires (GBA) North, South and West, month-on-month falls in the price per square meter of houses of 0.2%, 0.8%, 0.8% and 0.7 % respectively. On the other hand, in the case of departments, in February 2022, there were falls in the price per square meter of 0.5% in CABA, 0.4% in GBA Norte, 0.5% in GBA Sur, and 0.3% in GBA West, relative to January 2022.
When considering the interannual variations, falls in the price per square meter of houses are observed of 4.7% in CABA, 9.2% in North GBA, 6.2% in South GBA, and an increase of 7.8% in GBA West. For its part, the falls in the sale price of apartments, compared to February 2021, in CABA and GBA North, South and West were 7%, 5.2%, 5.7% and 5.9%, respectively .
From the aforementioned results, it should be noted that the agglomeration of AMBA where the largest year-on-year drop in the sale price per square meter of houses was recorded was North GBA. “This phenomenon is explained by a considerable drop in demand, since between February 2021 and February 2022, there was a 32.2% drop in contacts per publication,” Mercado Libre reported.
“This dynamic is consistent with the expected behavior in a context of economic crisis. At a time when the dollar income of potential buyers is constantly devalued (and therefore, their purchasing power), it is reasonable that the demand for real estate with the highest sales prices in the market falls. Consequently, the drop in prices appears to reflect a response by owners to recover some of the lost demand,” the report added.
In CABA, the largest year-on-year drop in the sale price per square meter of houses in neighborhoods occurred in Belgrano, with a variation of 8.1%. On the other hand, for departments, the greatest drop is observed in Villa Santa Rita, with a variation of 16.8%. For its part, within GBA (excluding CABA neighborhoods), The municipality that registered the greatest drop in the sale price per square meter of houses was Avellaneda (11.1%); in the case of the departments, the greatest drop occurred in La Plata (11.8%).
The rent in AMBA
The variation in the median house rental price (in constant prices) was 10.4% in CABA, 5% in North GBA, 2.2% in South GBA and 3.2% in West GBA. On the other hand, in the case of apartments, the month-on-month variation of the median rental price in CABA, North, South and West GBA was 8.1%, 4.8%, 5.3% and 3.6%, respectively .
An annual increase in constant prices of house rental prices of 25.6% is observed in CABA, a drop of 38.3% in GBA North, and increases in GBA South and GBA West of 67.3% and 29.1 %, respectively. For its part, year-on-year, apartment rental prices registered increases in CABA and GBA North, South and West of 10.4%, 39.1%, 32.5% and 4.6%, respectively.
“It is observed that the increase in the price registered in AMBA is explained by increases in the price of small and medium-sized apartments. In February 2022, studio apartments and apartments with two or three rooms registered year-on-year increases in rental price (in constant prices) of 6% and 10.4%, respectively, while apartments with four or more rooms registered a drop of 8.9%”, added Mercado Libre.
“This variation is due to movements in demand since, between February 2022 and February 2021, the variation in contacts per publication of studio apartments, apartments with two or three rooms, and apartments with four or more rooms was 62%. , 11.4% and 9.7%, respectively,” the report added.
It is observed that the neighborhood of CABA where the highest interannual increase in constant prices of apartment prices was observed was Recoleta (56.9%). On the other hand, considering the municipalities of AMBA (excluding CABA), the highest year-on-year variation in house rental prices occurred in Moreno (38.8%)while in the case of departments, the greatest increase was registered in La Plata (54.6%).
Source: Ambito
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