In January, 1,882 deeds of sale were completed compared to 1,848 in the same month of the previous year, for a total amount of $143,030 million, which represented a year-on-year increase of 244.4%.
Real estate purchase and sale operations in the city of Buenos Aires registered an increase of 1.8% in the first month of the year, compared to the same period last year, according to a report prepared by the Buenos Aires College of Notaries.
In January they finalized 1,882 purchase and sale deeds compared to 1,848 in the same month of the previous year, for a total amount of $143,030 million, which represented a year-on-year increase of 244.4%.
The average amount of the operations completed, meanwhile, was $75,999,357 in national currency, with a year-on-year increase of 238%, and US$90,710 in its dollar equivalentwith a drop of 23.5%.
In comparison with December, there was a decrease of 58.7% in the number of operations, compared to the 4,560 carried out in that month.
“The January data does not reflect major variations: There is a slight increase, but they are not high percentages. And perhaps in some month there will be some slight year-on-year decline. In any case, like every beginning of the year, it generates some expectation in case some stimulus is generated in the macroeconomic order for the sector,” said the president of the Buenos Aires College of Notaries, Jorge De Bártolo.
In a statement, he added that “If we compare historically, it is evident that when there is mortgage credit the real estate market doubles.”
“If in January 2018 there were 4,500 operations, almost 1,900 were with a mortgage. And in 2024, the total does not reach 1,900, but less than 70 were with credit. That is to say, a tool like this already provides the basis for what the total activity is today,” said De Bártolo.
In January, there were 69 deeds formalized with a bank mortgage, with a decrease of 11.5% compared to the same month last year.
Sales in CABA: which are the most in-demand neighborhoods
- The average price in the city stands at USD 2,186 per m2, rising 0.4% in January and registering the largest monthly increase since June 2018. The path of price recovery continues: seventh consecutive monthly increase, accumulating +1.6% since June 2023, according to Zonaprop.
- In the year-on-year comparison the price falls 0.3%. Currently the average price is 21.9% below the maximum reached in 2019.
- In January 2024, 77% of the neighborhoods registered a monthly price increase, similar to April 2018.
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Source: Ambito
