The real estate market is going through a revival. Various factors woke up a sector that had been stagnant for years.
Since a couple of months ago, when 21 banks launched mortgage loans, enthusiasm has been awakened among buyers for the possibility of completing the acquisition of real estate. Anyway, the numbers for now They are far from what the UVA credit boom was in 2018.
According to data from the Porteño College of Notaries, the total number of real estate purchase and sale deeds registered an increase of 30.4% in September compared to the level of a year before, when adding 5,157 records. In September there was 705 writings formalized with a mortgage, which represents 13.7% of the total. The increase in this sense is 317.2% compared to the same month last year and 74.3% in the accumulated amount of the year. In 2024, 1,970 deeds with mortgages have already been completed.
“Mortgage credit has been growing month by month and if we measure it compared to four months ago there is a jump of 500%. The encouraging data is that there are 700 mortgages and we believe that this number has to increase considerably: that would chain new sales and purchases,” explained Jorge De Bártolo, president of the Buenos Aires College of Notaries.
Although the stabilization of the dollar provides predictability for those who take out loans, inflation still needs to be reduced a little more and for this to be maintained over time, to show a real leap in the acquisition of credits. In addition to this, many salaries remain delayed, which represents a barrier for those interested.
It should also be noted that current credits work to buy properties with deednot so well or brand new apartments that have not yet been deeded.
Mortgage credit operations are growing but still at a slow pace
“Regarding the amount of total residential operations we have, the incidence with mortgage loans is still small. The percentages involved in paying for the unit are not high, what is needed is being taken to buy the property,” specified Ignacio Mel, director of the Mel real estate agency. “With an inflation level of 4% per month and interest rates still high, it is not so attractive to acquire a loan, but it is evident that it facilitates operations. Added to this, if inflation goes down and rates go down, it is possible that this will improve,” he added.
The credit granting processes take a couple of months, so it is expected that the real boom will begin to be seen in 2025, if the economy also manages to stabilize.
“Currently there is a certain movement of people who book with mortgage credit. The impact is positive, because people who qualify and can take out a mortgage loan increase demand. Buyers make more offers and owners receive a new market of interested parties who also do not fight so much about the price, when they see something they like they want to close it, because the credits last for a period of time and have certain limitations,” explained Hernán Siwacki, CEO of Capital Brokers.
In this regard, the counteroffer range that is being handled today was located in -4.4% on average in Septemberwhich already shows 6 consecutive months below 5%.
Most searched neighborhoods and typologies in CABA
Consultations are growing and the northern corridor of CABA is the most in demand. But due to a question of prices, little by little other peripheral areas are beginning to position themselves where they can be obtained. estate a little cheaper.
“What we notice are inquiries from people who already have approved credit and are looking for the best option to buy. What they are most looking for are 3-room apartments, mainly for families and those who want an additional room for professional use or as a home office,” explained Solange Esseiva, CEO of the H54 real estate agency. “The neighborhoods of Palermo, Belgrano and Recoleta continue to be among people’s preferences. But peripheral areas such as Caballito, Flores and Balvanera are also on the buyers’ radar.”he added.
Source: Ambito
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