The dynamization, although still slow, of the mortgage loansadded to money laundering and the prices of the properties that are still low mean that the market has begun its recomposition.
“There is a growth in prices in some areas. In fact, properties in CABA increased 12.5% year-on-year in dollars“, stated Germán Gómez Piccaso, when presenting the panel on market numbers, supply and demand for real estate in the Data Day Real Estate Report. “Prices are going to continue rising. Today what is being sold are good, well-located properties.“added Gómez Piccaso.
Gone are the days of oversupply of real estate. The latest deeds from the College of Notaries of CABA and the Province of Buenos Aires reflected record sales data, a streak that is estimated to continue in the coming months.
On the other hand, renting became a business again, so after the repeal of the Rental Law, many properties returned to this modality.
The stock of properties for sale is declining, while prices are clearly beginning to take an upward path. Some experts point out that the increase in estate For next year it will be between 10 and 15%.
“The interior real estate market recovered before that of CABA. There were areas with discounted prices, some places asking only US$700 or US$800 per square meter. Today these values are already on average at US$1,176”explained Gómez Piccaso.
The two-room apartments lead the ranking of the best sellers
Almost 40% of buyers in CABA choose to purchase two-room apartments. 26.2% choose 3 environments and 20% choose one environment. According to the Real Estate Report, the main queries that real estate agencies receive today are about convenient sales prices, mortgage loans and money laundering.
However, in a calculation made from data from the last Census, the expert pointed out that the housing deficit is a latent problem and calculated that there are about 47,000 homes missing per year, to be able to respond to population demand.
Price per square meter rises
Last month, the m2 experienced an appreciation of 12.6%, in used apartments with 1 to 3 rooms in the city of Buenos Aires. It should be noted that last March a 20-month streak was broken where the price per m2 had been below US$1,800 per m2.
According to the Real Estate Report, in the sales of studio apartments a closing price per m2 of US$1,956while the closing value of the 2 and 3 room units was US$1,904 per m2 and US$1,797 m2 respectively.
The gap between the value per m2 of the operations completed in September, commonly known as the counteroffer range, was – 4.4% on average, already showing 6 consecutive months below 5%.
Source: Ambito
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