The prices of the estate they continue to rise. The average price per square meter in the City of Buenos Aires rose 0.3% in October and stands at u$s 2,321according to data from Zonaprop.
In 2024 the square meter accumulates an increase of 6.6% and 7.2% from October 2023, the largest increase since December 2018.
A studio apartment has an average price of u$s 102,267while a two-room apartment is located in u$s 122,963 and one of three environments in u$s 169,082.
What are the most expensive and cheapest neighborhoods to buy a property?
Puerto Madero presents the most expensive offer, with an average price of US$5,985 per m2. Palermo and Belgrano follow, with average prices of US$3,212 per m2 and US$3,030 per m2, respectively. On the contrary, Lugano is the most economical neighborhood for acquisition, with an average price of US$983 per m2. They are followed by Nueva Pompeya (US$1,388 per m2) and Villa Riachuelo (US$1,505 per m2).
AND75% of neighborhoods register monthly price increases, while 94% register a year-on-year increase and only 6% maintain a year-on-year decrease.
For its part, the volume of deeds in the City of Buenos Aires in September 2024 increased by 30.4% compared to the previous year, with a total of 5,157. This is the best month since 2017. Starting in July, an increase in the volume of writings has been recorded, after minimum levels that ranged between 3% and 6%. In September, The number of deeds with a mortgage represents 14% of the total, 4.2 times more than a year ago and 70% above the August 2024 indicator.
The cost of construction rises and impacts the properties in the well
The cost of construction measured in dollars rose by 34.6% in 2024a factor that drives the increase in the prices of in-well units (US$2,741 m2) and brand new units (US$2,745/m2). Building today costs 2.9 times more than in October 2020and 30.2% above the 2012-2023 average.
Palermo is the neighborhood with the greatest presence of apartments in well. They are followed by Belgrano, Núñez and Caballito. Monserrat, on the other hand, is the neighborhood with the least offer. Recently, money laundering fueled demand for apartments under construction.
Regarding mortgage loans, although it is expected that in the coming months there will be dynamism in the sector, it should be noted that they work to buy properties with deednot so well or brand new apartments that have not yet been deeded.
Source: Ambito
