The total amount of scriptures of purchase and sale of estate registered an increase of 41.5% in November compared to the level of a year before, adding 5,755 registrations, while the total amount of transactions carried out rose 342.6%, with $584,653 million, reported the College of Notaries of the City of Buenos Aires.
Compared to the previous month, events decreased by 3.9% (in October there were 5,987 scriptures). The average amount of the acts was $101,590,456 (US$99,500 according to the average official exchange rate): it grew 212.9% in one year in pesos, and in US currency it rose 13.4%.
Mortgage loan operations rise
In November, there were 950 scriptures formalized with a mortgage. Therefore, the increase is 472.3% compared to the same month last year and 152% in the accumulated amount of the year (3864 scriptures of mortgage in total).
“We are going to close the last quarter of the year with records of almost 6,000 monthly purchase and sale operations and it is a good indicator because we will close at 53,000 scriptures totals in 2024. With the credit incentive, we noticed that the second semester had a boost for activity and, with everything worked this year, we hope that in 2025 mortgages will be consolidated and have a floor of 1,000 operations in that sense. said Jorge De Bártolo, president of the Buenos Aires College of Notaries.
“There is a slight inter-monthly decrease, but minimal. Last year there had also been a slight decrease in the November-October comparison: this time the closing of the laundering may have had an impact. But with this panorama we almost tie 2018, a year in which it had exceptional mortgage leverage in the first half. In that logic, the photo from these years is of a 6-year climb up stairs, and we hope to continue climbing,” added De Bártolo.
2024 had record months in the sale of real estate
During 2024, record months were recorded in a period of almost 80 months. In fact, October marked that data with 5,987 writings. With November, which had 5,755 writings, 32 consecutive months of interannual increases are completed and of the last 47 (almost 4 years), there were only 3 interannual decreases.
At a total level, last year closed at 40,000 deeds, 2022 at 33,000, 2021 at 28,000 and 2020 with less than 20,000.
The encouraging fact is that the mortgage credit it keeps going up. In November there were 950 mortgages, a little more than in October. That is, in 4 months we went from having 150 mortgages to almost 1,000. “Credit is a wheel that is being oiled and will have a good perspective,” said De Bártolo.
In October and November, the percentage of credit with respect to the total sales volume represented 15%, in September it was 13% and in August it was 8%. That is, it has been growing. But from 2018 until the relaunch of the credits, it never exceeded 4%. And in the furor of the previous UVAs, almost 4 of 10 sales were with credit.
“The expectation is that with more credits in 2025 we can grow widely. During the years of good credit we had more than 70,000 sales and purchases. The ideal scenario is that there are no sudden variations in the dollar, that makes people afraid and they become discouraged or cause folders to fall because their budget is stretched,” concluded De Bártolo.
Source: Ambito
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