The macroeconomic context has an impact on the third activity that generates registered employment: real estate services. According to a private report, after six years Brake the tendency to low of the average value of the incidence of the land.
The data comes from the latest survey of Adrian Mercado, the platform specialized in online auctions. According to the report carried out, the average incidence per m2 went from $453 in 2023 to $450 in 2024registering a slight decrease of 0.6%.
The indicator determines the price corresponding to the land per salable m2 in a real estate development. Its variation depends on the location, construction capacity and the existing offer.
The upward trend was broken in 2018located in $657, and from then on it evolved downwards, until the last data mentioned. Thus, the average value of the incidence is located at similar values at 2012when it was located in $444.
The stabilization of the price is explained by two reasons: the expectations of an increase in the value of the finished m2 in the medium term, as a result of the increase in construction cost in dollarsand the advent of mortgage creditannounced in mid-May.
At the same time, Alejandro Bennazar, representative of the Argentine Real Estate Chamber (CIA), added that the price per m2 could increase once the money laundering discussed in Congress, while the agroindustry “it is pushing very well in the different sectors” because ““Taking cultural tasks out of the countryside, what is left over normally goes to real estate investment.”
For Bennazar, the expectation is set on a increase of the price of land around fifty% from here to end of the yeareven in the duplication of the values for 2025.
According to the real estate market leader, the DNU that deregulates rental prices “allows negotiation between parties” and that brought “a lot of stability in the market“.
The average value of land incidence is closely linked to both its location as with the construction quality from the developer.
The neighborhoods that register the apartment, according to Adrián Mercado, are Villa Riachuelo and town Soldatiboth with an average incidence value of US$125. They follow him Mouth of US$140, Villa Lugano and Forest of US$145.
At the other extreme, the highest prices are found in Madero Portwith an average value of US$1,286, Recoleta of $820, Belgrano of US$700, Palermo of $650 and Schoolboys of $600.
As the data show, in CABA there is a wide variety of land prices. However, according to Real Estate Reportplatform dedicated to the analysis of Real Estate, only the 2.9% exceed the u$s1,000.
Mariano Malbranpresident of the Chamber of Real Estate Services Companies (CAMESI), tells Ámbito that the incidence value of the lots “has begun to recover after six years of consecutive decline” thanks to the increase in the value of the m2 of construction, which is effectively transferred to the price of the properties.
In this sense, it stands out that the zoning that the State determines on the lot also affects the price per m2 of the land, since “will set the number of functional units, possible subdivision into lots or the required destination in said sector (commercial, industrial, multifamily).”
At the same time, he expects that mortgage loans will have an impact on the price of land because “they will be a boom” as long as macroeconomic stability is achieved since “there is a lot of pent-up demand”. At the moment, the banks recognize that inquiries about loans are high, but the level of execution is not significant.
Different is the look of Marta LiottoPresident of CUCICBA, on the impact of mortgages on the price of m2: “The loans offered by banks talk about a finished property, not construction. I understand that that will come in a second stageas the economy adjusts,” the specialist understands.
At the same time, he warns that due to the increase in products for the completion of a work, finishing it “it leaves you out of the market in relation to the value of the m2“, and admits that the offer to build is there, but that “the construction the ammeter is not moving of good marketing.”
This same logic runs through Adrián Mercado’s report when pointing out the sharp rise in the cost of construction in dollars as the cause of the concentration on larger works in m2. In that sense, he understands that the SME developer segment is “more cautious” than that of the big volume players when deciding to start a new project.
Source: Ambito
