Prices rose and credits would accelerate this trend

The launch of several credit lines by banks, combined with the decision of many property owners to turn properties into the residential rental niche, continues to accentuate the rise in used apartments offered for sale. In the first half of the year alone, The price of real estate rose 4% compared to the same period but in 2023. Although the price per square meter has not yet reached pre-pandemic levels, all neighborhoods in the City show a significant improvement in values. At the same time, real estate agencies recognize that The deeds closed the best first half of the year in at least 6 years. On the other hand, for those who are starting to build, costs in dollars have risen by almost 16% so far in 2024.

According to a survey by Zonaprop to which it had access iProfessionalthe price per square meter increased by 1.2% during June in the Federal Capital, which is the highest figure in monthly terms since April 2018.

“The average price per square meter is $2,269/square meter, 5.5% above the average recorded in July 2023 but 19% below the maximum reached in 2019,” the report states.

A 40 square meter studio apartment is listed for sale at $100,280while a two-room apartment of 50 square meters costs 120,356. Meanwhile, a three-room apartment of 70 m2 costs 165,111 dollars,” he added.

The square meter increases and so do the deeds

According to the platform, in the first half of the year, almost all neighborhoods in Buenos Aires showed increases in the value of their respective square meters.

“Puerto Madero, Palermo and Belgrano continue on the podium of neighborhoods with the highest prices, with a value of 5,931 dollars per square meter, 3,172 dollars and 2,916respectively. In turn, Lugano remains the most ‘economical’ offer, with an average price of 989 dollars per square meter. It is followed by Nueva Pompeya (1,382 dollars per square meter) and Villa Riachuelo (1,433 dollars)”, he explained.

Prices have begun to recover after the collapse of the last 4 years.

The volume of deeds in May was 36% higher than the same month in 2023. In 2024, there is an increase of 25% compared to the volume of 2023, but 22% below that of 2019 and 40% below that of 2018,” it was noted.

In line with these figures, a recent report by Reporte Inmobiliario indicates that, in relation to the deeds executed so far in 2024, “there were 4,590 registrations, while the total amount of transactions carried out increased (compared to 2023) by 400.3%, with $346,713 million.”

Prices of used apartments: how the fluctuations of the “blue” affect them

Regarding the movement of investors in this new scenario of exchange rate turbulence, Marta Liotto, former president of the Professional Real Estate Association (CPI), told iProfessional that the current “blue” situation has not yet impacted purchase and sale operations, and that expectations regarding new loans are multiplying.

“Unlike other similar situations in the past, the rise that the ‘blue’ dollar and other ‘free’ exchange rates are experiencing It is not having any significant impact on prices. and the number of purchase and sale transactions,” he commented.

“Today, the exchange rate coexists with other variables, such as the possibility of accessing mortgage loans, which minimize the influence that variations in the exchange market have on buyers and sellers,” he said.

In recent dialogue with iProfessionalAlejandro Bennazar, former president of the Argentine Real Estate Chamber (CIA) and current director of institutional relations of the same entity, said that the credits promoted by the banks will accelerate the purchase and sale and that this change will end up sealing the recovery of the values ​​that the apartments have been exhibiting.

Sales and purchase operations closed the first half of the year on the rise.

“In the interior we notice a revaluation that, depending on the city or area, reaches 10 percent. In Capital, however, depending on the neighborhood, There are increases in used cars that range from 2 to 4 percent“, said the manager.

 
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