Property sales in the Province of Buenos Aires grew 24% in May

Property sales in the Province of Buenos Aires grew 24% in May
Property sales in the Province of Buenos Aires grew 24% in May

The data of the real-estate market in the Province of Buenos Aires indicated an increase 23% year-on-year in the number of operations registered during the month of May.

The statistics collected monthly by the College of Notaries of the Province of Buenos Aires They reported a total of 9,459 sales and purchases for the fifth month of the year, compared to 7,715 in May 2023.

The inter-monthly variation, meanwhile, was positive by 24%, since in the month of April 7,617 operations had been recorded. Regarding mortgages, In May, 349 were registered, showing an increase of 17% compared to last April (299) and a decrease of 65% compared to May 2023 (994).

“Beyond possible variations that may occur month to monthit is positive to see the increase in operations that was registered in May. Going forward we hope that the trend will consolidate to be able to speak of an effective recovery of the market; For this, what happens with the mortgage loans that banks are offering“said the President of the College of Notaries of the Province of Buenos Aires, Diego Leandro Molina.

“Mortgage credit is important for reactivate the real estate market, with the impact that this entails on the economy in general. As a result of the latest announcements from the banks, we are already receiving inquiries at the notary offices, and that is where the need and expectation that Argentines have to be able to access credit is evident,” Molina explained.

Mortgage credit boom

The resurgence of mortgage credits UVA – named after the acronym “Purchasing Value Unit” – aroused great interest, and so it was that in the first month alone more than 64,500 queries and today, a little less than two months after launching, the queries exceeded 250,000. Without a doubt, this line of credit became hope for a future economic recovery and for all those who dream of owning their own home.

There are already 15 banks that grant these lines of credit: the Mortgage, the Nación, Supervielle, Macro, Santader, Ciudad, Galicia, BBVA, Del Sol, ICBC, Brubank, Bancor (Córdoba), Banco de Corrientes, Banco Provincia del Neuquén and Patagonia. Employees and self-employed workers can access it, whether they are registered responsible persons or monotributists. In it National Bank Also included are retirees and pensioners who receive their salaries in that entity.

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There are 15 banks that grant lines of credit to access a property

Payment times are around 20 years, but there are some entities that offer up to 30, so it is important to consult the different proposals for these loans that can also be taken to buy a second home. “It is key to highlight that mortgage credit in a country is very necessary.

Although in Argentina we normalize that in recent decades it is almost an impossible mission to access it – during the last 5 years there was no offer -, in all developed and developing countries it is an essential tool for the economic growth of society. ”argues Ariel ChampanierCEO of RE/MAX Premium, a leading agency in real estate services and No. 1 in network sales in Argentina, who have already registered 50% more inquiries to buy properties since the loans were launched.

 
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