In July, they had an increase of 8.6% compared to the stock of $624,859 million of the previous month, accumulating a total balance at the close of $678,764 million and an interannual increase of 52% all in nominal terms. What do they say from the sector.
In July, the mortgage credits, had an increase of 8.6%. Last month they had registered for the first time in 8 months, a real growth of 5.4%. The appearance of credit supply by several private and public banks and the demand pent up for many years, began to find a positive response in the market.
In July, the Total balance of loans in pesos to the private sector reached a level of $33.6 billion, which represents an increase of $22.7 billion in the last 365 days, equivalent to 208.5% annually, values that are below the inflation of the period, if we consider the last twelve months and taking into account that the indexes corresponding to the month analyzed have not yet been released.
CPI value estimates They place it close to last month’s value and slightly below 5%, resulting in a cumulative total of approximately 267% for the last 12 months. In July, there was again a rise of $4.8 trillion in nominal values.which represents 16.5%, clearly above the price index for the monthand they have been stringing together a bullish series that has already lasted three consecutive periods.
Analysts’ view on the rise in mortgage rates
Regarding mortgage credit lines, including those adjustable by inflation/UVA, during July, they had an increase of 8.6% with respect to the stock of $624,859 million of the previous month, accumulating a total balance at the close of $678.764 million and a year-on-year increase of 52% all in nominal terms.
“For the second consecutive month, we see that this line, which has been lagging for so long due to the effect of the rise in price indices, is following the growth that is materializing in the rest of the chapters that make up credit to the private sector in pesos. It should be noted that although the trend is positive, The absolute values that are handled are well below what this line should have in a healthy and consolidated economy,” Barber explained.
mortgage loans housing real estate properties
freepik.es
The expectation of the real estate market
The real estate sector showed a slight improvement in the first half of the year, which would be due to the incentive of mortgage loans and the strategy of money laundering. In the case of money laundering, the plan provides for discounts on apartment prices so that people pay in cash or up to 75% of the property with laundered dollars.
From the sector, they assure that this type of measures help to boost sales but prefer to remain cautious. This measure will encourage sales from the pitand there will most likely be special prices for 100% cash payment.
The College of Notaries of the City of Buenos Aires recorded a 27.47% increase in the number of deeds executed in June compared to the same month in 2023. During the sixth month of the year, there were 4,232 deeds and the total amount of transactions reached $362,001 million, a year-on-year growth of 350.25%.
During the first half of the year, deeds in the province of Buenos Aires totaled 41,122, an increase of 12.56% compared to the same period in 2023. With these data, June represented 21.35% of the total transactions registered in the first six months of the year.
Source: Ambito
