In August, 5,297 deeds were executed, 7.1% higher than in July. In addition, mortgage loans have already begun to have an impact.
This year, the real estate market showed strong signs of recovery. Deeds are on the rise, after years of difficulties.
According to the latest report from the College of Notaries of the City of Buenos Aires, the total number of writings of purchase and sale of Real estate prices rose by 28.1% in August compared to the level of a year earlier, with 5,297 registrations. Compared to July 2024, the acts rose by 7.1%, when 4,946 deeds were made.
The total amount of transactions carried out increased by 287.4% to $515,023 million.
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The number of deeds executed with mortgage credit increased
He The average amount of the acts was $97,229,203 (US$98,985 according to the average official exchange rate): grew 202.4% in one year in pesos, and in US currency it rose 3.4%.
On the other hand, in August, There were 416 formalized deeds with mortgagewhich is why the increase in this sense is 133.7% compared to the same month last year and 31.6% in the year to date, where a total of 1,265 mortgage deeds were executed.
“It is the best month of the last 75 months and – as we predicted last month – we clearly exceeded 5,000 operations. We are also seeing that the impact of the mortgage loan “While these figures are still low, they represent a jump of almost 300% in just two months. This will encourage chained operations and we trust that it will be a virtuous circle,” said the president of the College of Notaries of Buenos Aires, Jorge De Bártolo.
Money laundering triggered inquiries for the purchase of real estate
There are only a few days left until the end of the first stage of the bleach On September 30th, the first perceptions of this new bleach They throw that the estate small, one and two-room apartments are the most sought after by investors.
“There are consultations in notary offices regarding the possibility of laundering: people with small amounts of savings, who had not fully invoiced them, who accessed the blue dollar market and -with that money- want to circulate it by buying a car or an apartment, or helping their children with a donation. That will also surely mark the last quarter of the year,” concluded De Bartolo.
Source: Ambito
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