The report also shows that the volume of operations grew despite the fact that the market has an overstock of real estate never seen in history due, they say, to the Rental Law.
“In the first two months of this year we sold 63% of three-room apartments. We went from 43 units to 70 units sold”, remarked Champanier, for whom the key is to carry out appraisals according to reality.
From RE/MAX Premium they maintain that currently the gap between the publication and closing prices is 7% and they point out that they advise owners with real variables of properties sold to reduce price disparity. “Usually homeowners want more than the market is going to pay for. But the reality is that the need or desire of the owner does not influence the closing value. You cannot impose a price out of necessity, you have to be guided by what the market guarantees”, specified Champanier, whose firm usually sells the published properties in less than a month.
Property prices began to fall at the end of 2018 due to the devaluation, but in 2019 the decline was consolidated based on the result of the PASOs and the recurring devaluations of the peso that began to occur; added to the fact that that year the mortgage loan disappeared, which has not yet been recovered.
Within the AMBA, the greatest year-on-year decreases in department values were found in the areas furthest from the center of CABA. “Today, a 3-room apartment is available from US$1,600 per m2 against the US$1,900 that it was worth between November and December 2021,” exemplified the president of RE/MAX Premium. Champanier is convinced that sales will continue to improve in 2022 and that this will not impact prices. “In order for values to rise again, we have to talk about 40,000 or 50,000 deeds per year and today we are very far from those numbers,” he predicted.
In addition, he emphasized that prices are driven by supply and demand and warned that “new ventures are going to be cheaper and cheaper because the price of land and the cost of construction have dropped, and that will also continue to drive growth.” sale of used apartments.
Neighborhood-by-neighborhood values
According to a recent Zonaprop report, 28% of apartments for sale were priced down in the last 6 months.
The value of a two-room apartment with 50 m2 is 121,000 dollars. While an apartment with three rooms and 80 m2 reaches 173,000 dollars.
The neighborhoods of Puerto Madero (5,566 dollars/m2), Palermo (3,036 dollars/m2) and Belgrano (2,908 dollars/m2) lead the ranking with the highest prices in CABA. Meanwhile, Barracas is in the middle zone with a value of 2,139 dollars/m2 and the cheapest are Lugano, Nueva Pompeya and La Boca with costs of 1,133 dollars/m2, 1,572 dollars/m2 and 1,636 dollars/m2, respectively.
Source: Ambito
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