Real estate sales (apartments and houses, garages and lots) in April in Córdoba showed a marked decrease compared to the same month of the previous year, according to a report by Economic Trends SA, for Ceduc (Business Chamber of Urban Developers of Cordova). Non-financed sales contracted 35.6% year-on-year and financed sales contracted 3.3%. Adding both, operations were 26.4% below April 2023, according to the Chamber that unites developers, Ceduc.
In a seasonally adjusted analysis of the last three months compared to the previous three months, mixed trends are observed. Unfinanced sales: these fell 10.5%, with an increase in garage sales (+83.4%) and apartments and houses (+5.8%), but a decrease in lot sales ( -34.1%). Those financed increased by 18.2%, driven by higher sales of garages (+82.8%) and lots (+39.8%), although sales of apartments and houses fell by 71%.
For its part, the survey of property prices is the result of joint work between the University of San Andrés and Mercado Libre to monitor the real estate market in the city of Córdoba, showing that last month, the median sales price in dollars per square meter in Córdoba of houses, apartments and offices presents variations of -1.2%, -0.8% and -1.0%, respectively, relative to April 2024.
If, however, the interannual variations are considered (May 2024 compared to May 2023), the variations in the median sales prices in dollars per m 2 of houses, apartments and offices have been -1.5%, 3.0% and 1.1% , respectively. Expanding the analysis by geographic agglomerate in Córdoba (that is, distinguishing between North, South, East, West and Center), it is observed that the greatest interannual drop in the median sales price in dollars per square meter of houses occurs in Córdoba Oeste, being this is -6.7%.
As for apartments, the highest year-on-year variation in said price is recorded in Córdoba Este, with an increase of 10.1%. For its part, in the case of offices, the greatest variation is observed in Córdoba Este, with a drop of -10.7%.
Considering the stock of active rental publications in the city of Córdoba, in May compared to April, the variations in the median price of rentals per square meter in current prices of houses and apartments in Córdoba have been 8.6% and 1.4%, respectively. .
As for offices, prices remained stable, without registering variations with respect to April 2024. Expanding the analysis by geographic agglomerate in Córdoba (that is, distinguishing between North, South, East, West and Center), and considering only those agglomerations for which we have sufficient data, it is highlighted that in Córdoba Norte, the inter-monthly variation of the price per square meter in current pesos for house rentals is 7.1%.
In relation to the apartments, inter-monthly variations in this price of -2.2% are observed in Córdoba Norte, 0.7% in Córdoba Centro, 0.8% in Córdoba Este and 8.8% in Córdoba Oeste. In the case of offices, inter-monthly variations of -4.5% were recorded in Córdoba Norte and 8.0% in Córdoba Centro. In May 2024, the supply of rental properties increased considerably in Córdoba.
When comparing with November 2023, the last month in which the rental law was in force, increases in the supply of houses and apartments of 70.9% and 152.5% are observed, respectively. These increases could be related to legislative changes and their possible effect on owners’ willingness to offer their properties for rent.
In this way, the market for houses for sale in Córdoba has been on the decline since March while the apartment market has been on the rise since December 2023.
