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had its best quarter in six years

had its best quarter in six years

Transactions rose almost 20% year-on-year, but the number of acquisitions made through mortgage loans continues to fall, according to the College of Notaries. They asked for the reopening of loans.

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The purchase and sale of properties during March in the City of Buenos Aires registered an increase of 18.3% regarding 2023, according to a report prepared by the Buenos Aires Notary School.

In March, by adding 3,499 transactionswhile the total amount of transactions carried out amounted to 347%with $300,553 millions.

purchase and sale of real estate.PNG

Amount of purchase and sale of real estate.  Source: College of Notaries.

Amount of purchase and sale of real estate. Source: College of Notaries.

Purchase and sale of real estate in CABA: what was the average transaction price?

The average transaction amount was $88,418,261 (some 98,758 dollars, according to the average official exchange rate): It grew 277.9% in one year in pesos, and in US currency it fell 11.3%.

Regarding property purchases with a mortgage, there were 106 deeds formalized with a mortgage, so the decrease in that sense is 4.5% compared to the same month last year. And the first quarter, with 254, represents a decrease in 23%.

If we analyze the volume of the quarter, it is the best in the last 6 years and it is consistent with the variations that we have been observing and is encouraging data. In fact, there is a growth of 16% compared to the same period last year,” said the president of the College of Notaries, Jorge De Bartolo.

In addition, the head of the College of Notaries insisted that the recovery of the sector would be greater “if the mortgage credit“and highlighted that “the last time there was a stimulus for families, the level of sales was double what we have today (almost 15,000 in 2018 versus 7,500 in 2024), that is why we emphasize that loans of this nature are virtuous.”

Despite the current context inflationary and delayed salaries, yesterday Banco Hipotecario announced that it will implement two lines of credit for the construction or acquisition of housing. This announcement is the kickoff of a measure long awaited by Argentines looking to have their own home. In any case, for the moment, they point to a middle class that must have demonstrable income above the average.

Source: Ambito

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