The deeds of sale of estate They showed significant improvement throughout the year. The total number of deeds of sale registered an increase of 41.5% in November compared to the level of a year before, adding 5,755 registrations, reported this week by the College of Notaries of the City of Buenos Aires.
A fundamental fact to highlight is that in November, there were 950 deeds formalized with mortgage, Therefore, the increase is 472.3% compared to the same month last year and 152% in the accumulated amount of the year (3,864 mortgage deeds in total).
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. The mortgage loanss were the main protagonists of 2024 and will continue to be so in 2025.
Property prices will continue to rise in 2025
This year prices began to be honest and the increase will continue in 2025, especially in the most premium areas of the city. In fact, according to Zonaprop data, in 2024, 98% of neighborhoods will register price increases. Regarding the typology, the well departments are the ones that registered the greatest increases.
The northern area of CABA is usually the most sought after by buyers. Palermo, Belgrano, Recoleta and Caballito recorded the largest price increases this year. While Barracas, Boedo, Parque Patricios and Mataderos are the ones that suffered the smallest increases.
According to a recent report prepared by Remax, the CEMA University and Real Estate Report, in November the value of a square meter in the City of Buenos Aires reached US$2,028, while in October that value had been US$ s 1998, which also shows this price increase.
How much did the cost of construction increase in the year?
The construction cost measured in dollars rose 42.1% in 2024, a factor that drives the increase in the prices of in-well units (US$2,772/m2) and brand new units (US$2,749/m2). Building today costs 3.1 times more than in October 2020 and 37.2% above the 2012-2023 average.
Negotiation gap narrows
Prices are adjusting and this is also seen in the negotiation gap, that is, the result between the published price and the sale price. In both November and October, a gap of -4.15 was evident. But this was only achieved now. 2024 started with a gap of -5.75, which even later rose to -6.
Source: Ambito
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