Properties in the AMBA recorded interannual variations in the median sales price in dollars per m2 of houses of -4.9% in September. Regarding the departments, a variation of 5.1% was recorded compared to September 2023.
According to a recent report by the University of San Andrés (Udesa) and Mercado Libre, distinguishing between Greater Buenos Aires North, South and West and considering the interannual changes, falls in the price in dollars per m2 of houses of -2.2 are observed. % in CABA, -3.0% in GBA North, -4.0% in GBA South, and -9.4% in GBA West.
On the other hand, in the case of departmentsin CABA, GBA North and GBA South positive interannual variations in the sales price of 8.8%, 2.0% and 0.8% are observed, respectively. On the contrary, in GBA West a negative variation of -2.2% is observed compared to September 2023.
Exploiting the granularity of the data by neighborhood, in CABA, the largest year-on-year drop in the sales price in dollars per m2 of apartments occurred in Monte Castro, with a variation of -9.2%. For its part, within the GBA, Quilmes is the municipality that registers the largest year-on-year drop in the sales price in dollars per m2 of houses (-10.6%); In the case of the departments, the largest drop occurs in La Matanza (-6.6%).
Strong growth in demand due to the boost in mortgage loans
In September, the increase in demand stands out (measured through contacts). In this regard, the demand for properties for sale of houses and apartments registers an increase of 75.1% compared to November 2023. This increase in demand would be explained by a combination of factors, including the greater dynamism of the sector in the recent times, to which is added the reactivation of mortgage loans in recent months and money laundering.
What’s happening in the rental market
In AMBA, during September, inter-monthly variations in the rental price in current pesos of apartments and houses of 3.6% and -1.4% were recorded, respectively.
Distinguishing by AMBA agglomerates, in September the prices per m2 for renting houses at current prices registered variations of -6.0%, -2.1% and -0.9% in GBA North, South and West, respectively.
Regarding the rental of apartments, inter-monthly variations in the price per m2 at current prices of 2.6%, 1.1%, 6.7% and 5.0% are observed for CABA, GBA Norte, South and Westrespectively.
The month-on-month falls observed in the median prices of rent of houses in AMBA during September respond to different behaviors depending on the quote currency: on the one hand, the median of the prices of the properties quoted in pesos increased; On the other hand, the median property prices in dollars showed a decrease compared to August 2024.
In particular, the fall in property prices in dollars would be explained in part by a change in the composition of the sample due to a smaller number of properties of higher value in September compared to August. It should also be added that the price of the dollar fell in September.
If interannual variations are considered, prices per m2 of rent of houses at current prices registered variations of 69.3% in GBA North, 87.2% in GBA South and 121.8% in GBA West.
For its part, in the market departmentsinterannual price variations are observed in current prices per m2 of 52.0% in CABA, 67.6% in GBA North, 135.2% in GBA South Zone and 147.9% in GBA West. Although they are considerable increases, in all cases, the year-on-year increase was below the year-on-year inflation in August, which was 236.7%.
The CABA neighborhood with the highest month-on-month increase in the rental price in current pesos per m2 of apartments is Flores (4.3%). For its part, considering the municipalities of AMBA (excluding CABA), the largest month-on-month increase in the price of house rentals occurs in San Miguel (9.6%), while in the case of apartments it occurs in Merlo (12.3%).
A fact worth highlighting in the rental market is the increase registered in the supply of apartments for rent. In this regard, in September in AMBA, the number of apartments available for rent increased 183.0%, compared to November 2023.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
