San Telmo, San Cristobal and Mataderosare among the neighborhoods where prices fell the most, as reported by Real Estate Radar.
Said platform indicated that “the total stock of real estate is above 163,000 units, and only 1.57% of what is offered is sold“.
As Radar warned, “the excess of properties is so great that, at the current level of demand, 6 years are required to absorb all the properties for sale in Buenos Aireswhen the historical average was two years”.
The neighborhoods that lowered the prices the most
“The decrease in prices from 2019 to date is 34.7%, but there are neighborhoods where it touches 40%, such as San Cristobal, San Nicolas, Villa Crespo and Boedoalways in used units,” Radar said.
It was indicated that the valuations in Retiro, Monserrat, Mataderos, Constitución and Parque Avellaneda.
“If the dynamics of prices at the neighborhood level are analyzed since the beginning of the economic crisis aggravated by the pandemic, the fall was quite homogeneous, with the exception of the neighborhoods where the adjustment was more pronounced,” it was analyzed.
In addition, it was reported that “closing prices, that is, the level of figures where the supply and demand for real estate meet, accumulates a drop of 29.3% since the first quarter of 2019, while the decrease was 6 .4% when comparing the 2021 average versus the first quarter of the year.”
Source: Ambito
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