The latest writing data are encouraging. In December, in the city of Buenos Aires, 7,667 notarial acts were signed, achieving a record in 7 years. Everything indicates that investors are taking advantage to buy properties.
“In this country it is not common for mortgage credit to be relatively accessible mobilizes the market. The one who has something saved has to take advantage, ”he said Horacio BenvenutoGeneral Manager of Izrastzoff. “The credits are uploading, so the credit is taken as soon as possible,” he explained.
How it impacts rates rise in mortgage loans
In this regard, of the 23 banks offered today Mortgage creditsthere are 12 that adjusted their conditions by increasing the annual nominal rate (TNA), or shortened the deadlines or amounts to be granted.
In this way, average rates are around 7.4%, thus evidencing a rise from the initial average of 5.5%. The increase in fees causes the amount of credits to be granted, since it is more difficult to access. Currently, the Mortgage credits They are moving the smallest tickets of up to US $ 300,000.
“On the other hand, if the comparison is made, who has savings stored today has less purchasing power than a year ago. I consider that it is not a good business to keep the dollars in hand because the purchasing power is decreasing, ”added Benvenuto.
What will happen to the price of properties
The real estate prices are upwards, especially the smallest who received the impulse of the credits. According to zoneprop data, in January prices rose 0.6% and the square meter is located at US $ 2,339. In the year -on -year comparison the price increased 7%.
“Without a doubt, prices will increase because it is the law of supply and demand. But unlike 2016/2017, at that time there were many less properties. We are talking about the fact that in the city of Buenos Aires there were 40,000/50,000 properties For sale and today we find that there are above 100,000, ”said Miguel Di Maggio, director of the Department Department.
“People are much more encouraged in a scenario of low inflation and with a convenient interest rate. Today we have an envelope stock of properties for sale and I think that envelope stock will increase as a good time to sell, ”added Di Maggio, who estimated that prices will rise between 7 and 10% this year.
For its part, FRANCISCO ALTGELTCEO of the homonymous real estate agreed with this rise. “Publication prices rose 6.8% in 2024. If we add that the barg Prices rose between 8 and 10%. Knowing that the CABA market is active and considering that the values rose we can conclude that this year it will be similar to the previous one ”, explained. “It is a good time to buy now because if the trend continues, prices are still increasing during this year,” he concluded.
Source: Ambito
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