Mortgage loans continue to push the market. In October, 5,987 real estate purchase and sale transactions were carried out
The real estate market continues to show signs of recovery. Once again, the College of Notaries of the City of Buenos Aires showed a record month in October, achieving the best performance in six and a half years.
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The total amount of scriptures of purchase and sale of estate registered in the tenth month of the year an increase of 31.3% compared to the level of a year before, by adding 5987 recordswhile the total amount of transactions carried out rose 232.1%, with $635,115 million.
According to the entity, compared to September 2024, the acts increased by 16.1%, since that month 5,157 purchase and sale deeds of estate.
The average amount of the acts was $106,082,380 (US$104,776 according to the average official exchange rate): it grew 152.9% in one year in pesos, and in US currency it rose 19.4%. In this regard, small, one- and two-bedroom properties are the ones that have the most movement.
The number of deeds formalized with mortgage credit increases
Since the launch of mortgage loans There was strong interest in its acquisition. And the data proves it. In October, There were 944 deeds formalized with a mortgageso the increase in that sense is 300% compared to the same month last year and 113% in the accumulated amount of the year (2,914 mortgage deeds in total).
The data is encouraging, since the numbers are growing. In September there were 705 deeds formalized with a mortgage and in August there were 416.
Real estate: the best month in 78 months
“We once again have a record: the best month in the last 78 months and we almost reached 6 thousand writings. It clearly reflects a new stage of the real estate market and now with a push from mortgage credit that touched a thousand mortgages,” said the president of the Buenos Aires College of Notaries, Jorge De Bártolo.
“With this level we are going to exceed 50 thousand sales and purchases in the year and it allows us to have confidence for 2025 with a more predictable scenario. We are working to systematize the mortgage cycle,” concluded De Bártolo.
Source: Ambito
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