Property prices continue to rise and negotiation gap is narrowing

Property prices continue to rise and negotiation gap is narrowing

The prices of the estate They began a recovery at the beginning of 2024. And this is expected to continue in the future, especially in the more premium areas of the city.

According to a recent report prepared by Remax, the University of CEMA and Real Estate Report, in November the value of a square meter in the City of Buenos Aires reached US$2,028, while in October that value had been US$ s 1998.

Meanwhile, if the value per square meter of used apartments is compared to a year ago, the increase is even more evident since in November 2023, the price was US$1,759.

For its part, when broken down by number of rooms, the closing price of the two rooms in November was US$2,248 per m2 for the studio apartments, while the closing value for 2-room units was US$2,086. yy 3 rooms US$1,916 per m2.

Mortgage loans stimulate prices

The prices of the estate They began their recovery this year but have not yet reached their ceiling. In addition to this, the dollar is calm so it is a good time to purchase a property.

The mortgage loans This year they began to move the market more. For many, the dream of owning their own home is closer. Although they are not yet a boom, the writings show an increase in credit operations which will impact the prices of the estate as time goes by.

Negotiation gap narrows

The report also highlights that the trading price, between the published value and the sales value, fell significantly this year. In both November and October, a gap of -4.15 was evident. But this was only achieved now. 2024 started with a gap of -5.75, which even later rose to -6. However, the increase in prices leads to the gap narrowing, as is currently seen.

Real estate demand

The northern area of ​​CABA is usually the most sought after by buyers. Palermo, Belgrano, Recoleta and Caballito recorded the largest price increases this year. While Barracas, Boedo, Parque Patricios and Mataderos are the ones that suffered the smallest increases.

Source: Ambito

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