“We closed a semester with a 12% recovery“, rescued the president of the entity, Jorge De Bártolo, who warned: “although it is an encouraging figure, we must understand that in other years at this time of the year it was already around 30,000 operations, far from these 13,000 of 2022 “.
Real estate activity and, consequently, the number of deeds- had a negative impact as of the second quarter of 2018, when a process of devaluation of the peso and a rise in interest rates began.
These two variables affected the sector, if one takes into account that most operations are agreed in dollars and that historically in most cases they were transacted through mortgage financing.
A third factor was the outbreak of the Covid-19 pandemic, to the point that due to the restriction of notarial activity in April 2020, only seven real estate sales operations were registered in the City of Buenos Aires.
De Bártolo also pointed out that “if we analyze these vertiginous days, we imagine that the month of July will have a complex balance that will slow down this incipient recovery”, due to the increase in the price of the dollar in the financial and informal markets.
As for the total amount of transactions carried out climbed 95.9%, with $45,527 millionwhile the average amount of the acts was $15,150,505 (US$118,492 according to the average official exchange rate).
Thus, the average amount grew in one year 59% in pesos and 25.1% in dollars.
The number of deeds formalized with a mortgage was 117 cases last month, with a drop of 10% compared to the same month of 2021, while in the measurement of the first semester the drop was 11.9%.
Source: Ambito
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