Real estate companies attribute the boost to the market in 2024 to mortgage credit

Real estate companies attribute the boost to the market in 2024 to mortgage credit

The real estate market went through important changes during 2024, many of which will impact this year. Mortgage loans, money laundering, increases in sales prices and increased rental stock are some of the processes that were evident.

In this regard, the classifieds portal Zonaprop carried out a survey of real estate agencies and developers to find out the ups and downs of the real estate market throughout 2024. When asked about which economic measure was the one that most boosted the purchase and sale market, 53% stated that they were the mortgage loans, while 39% considered that the Asset Regularization Regime was the most important factor.

Since the reactivation of the UVA credits in May 2024 after years of stagnation, interest in the search for properties grew noticeably. According to Zonaprop data, demand increased by 86% compared to December 2023, while 52% of the clients who participated in the survey indicated that the supply of estate for sale grew between 10% and 50% in the same period.

rentals real estate mortgage loans

Mortgage loans, the driving force of the real estate market in 2024.

Depositphotos

In this context, in July 2024, the approval of the Asset Regularization Regime was added, an economic measure that facilitates the declaration of savings with the purpose of allocating them to investment. According to survey data, 78% of responses maintain that they have received more inquiries for eligible credit transactions. In turn, 69% assure a growth in queries after the Money Laundering Law.

On the other hand, 32% of real estate companies indicated that on average it takes six months to sell a property and 21% takes more than a year. 18% complete the sale in 9 months, while 14% do so between one and three months

Property sales prices rise

The value of the square meter stopped falling in June 2023, marking a turning point and the beginning of an upward trend. In 2024, sales prices increased by 6.8% and currently, the price per square meter in CABA is US$325.

In agreement, more than half of those surveyed (57%) stated that values ​​began to rise, while 29% considered that they stopped falling. Only 14% expressed that they did not register major changes.

Faced with this new scenario, 55% of those surveyed warned that in 2025 there will be an increase in purchase-sale transactions and supply will increase, while 22% considered that although transactions will grow, supply will fall. 9% considered that there will be a decrease in transactions but an increase in supply and only 3.5% consider that both the volume of transactions and the supply will decrease.

Finally, in order to energize the market, 59% of those surveyed expressed that state measures are needed. 45% considered that financial tools must be strengthened and 42% analyzed that the development of accessible housing should be encouraged.

Rental market: the sector with the greatest movement in 2024

In the last week of December 2023, through the Decree of Necessity and Urgency 70/2023, the Rental Law was repealed. From this measure, the sector began a recovery process: price increases began to decrease and supply began to increase.

With this new reality installed, the rent It was the operation with the highest flow in 2024, according to 57% of the real estate companies that participated in the survey. Compared to December 2023, supply grew between 10% and 50%, according to just under half of those surveyed (48%), while 18% noted a growth of more than 50%. On the contrary, 14% saw a decrease of between 10% and 50% in supply, 11% considered that there were no major changes, and 8% noticed a drop of more than 50%.

However, despite the improvements, specialists consider that measures are necessary to boost its reactivation (44%). Still, more than a quarter of respondents (33%) noticed a positive change after the repeal of the Rental Law. On the other hand, 15% saw a decline in the market, while a minimal part (7%) did not see significant alterations.

The change in supply trend was accompanied by a slowdown in price increases, according to 45% of responses. 40% did not register significant variations while 15% registered a decrease in the values ​​of the rent.

Finally, with a view to 2025, 18% of the responses indicate that there will be an increase in transactions of rent and in the offer. 13% say they will see an increase in transactions but a decrease in supply.

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts