4,946 deeds of sale were executed in the City of Buenos Aires, which meant an increase of 47.3% compared to the previous year
The total amount of the deeds of sale of Real estate prices rose by 47.3% in July compared to the level of a year earlier, with 4,946 registrations, while the total amount of transactions carried out increased by 450.4%, to $437,194 million.
Compared to June 2024, The number of deeds rose by 16.9% (in June, 4,232 deeds were executed). The average amount of the acts was $88,393,521 (91,878 dollars according to the average official exchange rate), so the amount in local currency grew 280.4% in one year and in US currency it rose 10%.
Real estate: how many deeds were there with a mortgage?
In July There were 225 deeds formalized with mortgage. Therefore, the increase in this sense is 41.5% compared to the same month last year.It is the best month of the last 74 months and with a slight boost we are going to enter more than 5 thousand operationsIn 7 months we registered 25,000 writings “In terms of sales, there is still a long way to go to talk about good years: in 2018 we had almost 36,000 accumulated transactions, in 2007 almost 40,000 and in 1998 – when there was a lot of mortgage credit – we had more than 42,000. Regarding mortgages, it is a clear indication that the credit wheel is starting to move, because although it is incipient, it marked almost double compared to the previous month,” explained Jorge De Bártolo, president of the College of Notaries of the City of Buenos Aires.
The appearance of credit offers from several private and public banks and the demand that had been pent up for many years began to find a positive response in the market, although still at a slow pace.
“There are other factors that impact this climate of certain recovery: a tax such as the ITI, which taxed the seller at 1.5%, was eliminated and there are consultations about the money laundering approved by the Government. These are two measures that we believe will give another level to the activity,” he said.
Source: Ambito
