Villa Crespo It is the neighborhood that leads the ranking of price decrease in the last two years, accumulating a drop of 42%. The price per m² there is US$1,410.
follow him St nicolaswhich had a decrease in values of 39% -with a price of US$ 1,365 m² – and San Telmowhich slowed down the values by 38.5% since 2019 (US$ 1,285 m²).
NEIGHBORHOODS THAT LOWERED THEIR PRICES THE MOST:
- VILLA CRESPO 42%
- SAINT NICHOLAS 39%
- SAN TELMO 38.5%
- NORTH NEIGHBORHOOD 37.1%
- BELGRANO 35.6%
According to Real Estate Radar, in addition to the oversupply, the cost of construction in dollars, which remained below the historical average in January, the drop in wages in dollars, and the low profitability of rentals, mean that prices continue to fall.
A “high dispersion” between publication values and closing prices is also mentioned, due to the total absence of reference values in the real estate market.
Finally, it is mentioned as a “central point” that, if a neighborhood started out with very high market values, “the fall tends to be faster. In the case of Villa Crespo, it had been a neighborhood with a lot of growth, and therefore that with the low demand fell stronger than in other neighborhoods”.
WHY PRICES FELL:
- lack of credits
- Stocks
- Pandemic
- rental law
Source: Ambito
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