The average home value was $155,613 in September, according to Octopus Proptech records on more than 120,000 homes.
The value of expenses continues to accelerate above inflation and in September the increase was 6.95%according to the survey carried out by Octopus Proptech. Meanwhile, inflation for that month is expected to be below 4% at the national level, according to the Market Expectations Survey (REM) carried out by the Central Bank.
The average price of expenses in the ninth month of the year was $155,613 in homes and so far this year it has accumulated an increase of 133.57%specified the platform that provides digital solutions to all people who manage or live in buildings, countries or neighborhoods.
These figures reflect the average of all the consortium’s expenses: salaries, service payments, purchases, public services, security, cleaning, maintenance, professional fees, among other costs.
Expenses: the increase in public services has a harsh impact
The weight of public services (water, electricity and gas) on the value of expenses continues to rise, while in May it was 10%, in September it reached 17.74%. From May to September, these were the increases:
- May: 10.29%
- June: 13.71%
- July: 14.09%
- August: 15.38%
- September: 17.74%
“The sustained increase in the item of public services in expenses has its origin in the need to adjust rates that had been lagging for years, with a level of repressed inflation that we are now seeing corrected. This phenomenon is not exclusive to 2024, but what yes What is distinctive about this year is the intensity with which rates have been adjustedwhich are trying to achieve values more closely related to the cost structure of the supplier companies. As a result, the weight of item 2 in expenses is increasingly higher, exceeding 17% in September. This dynamic is inevitable as long as the rate update persists, which generates significant pressure on consortia that are already facing other significant increases such as the labor costs of building managers. In this context, managing expenses efficiently is key to cushioning the impact,” he comments. Nicolas BaccigalupoCEO & Founder of Octopus PropTech.
Source: Ambito
