The market of purchase and sale of real estate It is improving little by little. In the run-up to the elections, from the market, they recognized that there were an acceleration in purchase inquiries and transaction closings. Currently, the price per square meter remains cheap, which is why those who have the dollars and are looking for a safe investment continue to turn to this investment. But, What happened after the election and what is expected in the two possible scenarios?
He electoral panorama significantly influences the purchase and sale of real estate Because it is a dollarized market, a driver of the sector is precisely the mortgage credit that in this scenario of inflationary acceleration does not have offer. For this reason, experts in the sector agreed on the need for the economy stabilizes to improve the situation, which has been in decline for the last 5 years.
“In the real estate market, the expectation is that everything will begin to fall into place after the inauguration of the new Government and the replacement in the Chambers“, he stated to this medium Marta Liottopresident of the Unique College of Real Estate Brokers of the City of Buenos Aires (CUCICBA).
The price per square meter of real estate is low compared to 2018, when the market was at the peak of its boom. This is how he explained it to Ámbito Daniel Zamponevice president of the Argentine Real Estate Chamber (CIA): “The real estate sector has moments of ups and downs for purchases. At this moment we are down, so whoever has the money, gets a better price.”
According to the latest report of Zonapropin GBA West and South Prices fell 0.3% in September and the value per square meter stood at US$1,606. Furthermore, this suburban area accumulates an annual drop of 4%, the highest compared to CABA (-1.6%) and GBA Norte (-1.4%). Meanwhile, since the maximum in July 2019, prices fell 18.6% in dollars. Currently, a two room apartment and 50 m2 in this area has a value of US$79,211, while one of three environments and 70 m2 reaches US$117,991.
Purchase and sale of real estate: what does the market expect after the runoff?
Now with an elected president, the future scenario looks different, not only in the real estate market but also at the national level. With the drought over and the possibility of exploiting Vaca Muerta and being able to export thanks to the gas pipeline, it gives better projections of foreign currency income to the country, which until now is scarce.
Along these lines, the real estate specialist Alejandro Bennazar highlighted: “In principle it remains to be decided who will be the president, but regardless of who wins, the expectations for next year are very positive, especially for the second semester due to international conditions and national projections”.
In this context, Bennazar highlighted that Argentina will become attractive to invest in tangible assets, since the valuation of real estate is very low, but also due to the recovery of profitability.
For his part, Zampone was confident that the next government will stabilize the economic situation and there would be a logic of rebound in the real estate market with prices, “they should stabilize upwards.”
The real estate purchase and sale market moves with mortgage credit
The cost of a property makes it essential that to achieve the dream of owning one’s own home, a worker has to go into debt. For this reason, specialists in the sector highlighted on more than one occasion the importance of the next Government creating facilities for obtaining a bank loan.
The vice president of CIA maintained that if the president who is elected on November 19 were to get any mortgage credit, could give a boost to the sector. For his part, Liotto also adhered to this idea.
“It is essential that progress be made in a mortgage credit policywhose success will also depend on the stabilization of the economy,” the president of CUCICBA assured this newspaper.
The real estate market is expectant of the new administration and confident that whoever wins the elections, by 2024 the sector could rebound and begin to leave behind the decline that has already been going on for 5 years and that destroyed the price of the subway. square. Some trust that prices will adjust upwards with the stabilization of the economy, but others assure that these values will be maintained for a time.