Conclusive data confirms the strong recovery in property prices

Conclusive data confirms the strong recovery in property prices
Conclusive data confirms the strong recovery in property prices

While economists debate whether or not there will be an economic recovery and, if so, how it will occur, the real estate market is already giving clear signs that activity is improving.

For some months now this has been seen in an increase in prices of properties, as a consequence of the growth in demand. There are different factors that explain this situation.

On the one hand, prices had been plummeting for at least five years and were at very low levels in relation to the historical average. Those operated on anticipate a “rebound effect” for this reason.

Added to this was the change of government and a more favorable environment for business that is encouraging investors with a more stable exchange rate horizon.

The repeal of the controversial Law of Rentals which had caused a negative impact not only in the rental segment but also in the purchase and sale of estate.

The latest fresh air that the activity is receiving are the announcements from several banks about the launch of mortgage loans for up to 30 years.

With this scenario, the improvement in prices accelerates

Universidad del CEMA and RE/MAX Argentina, together with Reporte Inmobiliario, prepare monthly the closing price index with information on the specific values ​​at which operations are agreed in the real estate market.

“The preparation and monthly publication of this representative index of the average price of the effective square meter in the City of Buenos Aires, in addition to having a reference of the average real value and its evolution over time, establishes the range of difference in relation to the average price per square meter published” say those responsible for the report.

According to this work, the counteroffer range was located, last month, at – 5.02%, being the lowest since the series began. All types showed increases in values ​​during the month.

The Real M2 Index corresponding to the month of April 2024 increased by 2.14% compared to the previous month.

In relation to the price per m2 of the same month last year, the general m2 of sale of used apartments of the set of units from 1 to 3 rooms in the city of Buenos Aires also appreciated by 10.26%.

In relation to January 2020, the start month of the series, the current value is 13% below

When proceeding to the opening by number of rooms, in the sales of studio apartments a closing price per m2 of 1,969 dollars was recorded, while the closing value of the 2 and 3 room units was 1,908 U$S/m2 and of 1,841 U$S/m2 respectively.

The gap between the value per m2 of the operations completed in April in relation to the last published value of the property, commonly known as the counteroffer range, was – 5.02% on average, being the lowest percentage since the the series forward and already showing 3 consecutive months in which it continues to be limited.

 
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