On the other hand, brand new products fell by 1.78% and well products by -0.48%. This makes sense based on the foregoing, the brand new product for sale either belongs to the investor or belongs to the developer and again the investor does not manage the movements of costs with great accuracy, however, the price in the well, which is the one that less bass moves almost directly with costs.
Analyzing these costs we can say that they are increasing because the increase in the cost of construction measured by the CAC is beating the evolution of the dollar, therefore, it costs more and more to build a square meter in dollars, so we can explain that developers have no more room to lower prices.
Finally, we could analyze the demand. This has two variables that can affect it to a greater extent, purchasing power and expectations. Purchasing power could be increased if some type of housing loan were given, which some analysts hope can be given in the next election year. On the other hand, if expectations about the economy improve in some way and it is understood that prices are at the bottom, what is known as overshooting could occur.
Analyzing the evolution of the price, we can say that according to the Zonaprop index, the drop for the year is -2.8, lower than that of the last 12 months, which is -7.8%. We can also point out that the average price is USD2300. According to the same index, it is below the average of the last years 2012-2021, which is USD 2,380; therefore, this value should correct when expectations reverse.
In conclusion, we can say that it is a good time to save on bricks or invest in the real estate market.
Economist and Commercial Manager of Sumar Inversión
Source: Ambito
