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Before the Ballot, the Purchase and sale of Homes was Activated - Infobae
November 18, 2023
The active search on the part of the demand contrasts with a more cautious supply. What is the price range that moves the most, both in the case of homes under construction and used properties?
Experts recognized that prior to the runoff there was a lot of movement in the Buenos Aires real estate market (Photo: Getty Images)
In the days before the general elections, the real estate market experienced a striking increase in the number of inquiries and property purchase and sale transactions. This phenomenon is developing in the midst of pre-electoral uncertainty, ahead of this Sunday's presidential runoff. Contrary to expectations, some experts noted, the market is more active than in recent months and demand increased by close to 20 percent.
“This phenomenon responds to several factors. As for the buyer, economic uncertainty drove the need to bet on bricks as a safe investment. Although this attitude is common in our market, it intensified due to two very different scenarios presented by the two current candidates,” acknowledged Esteban Salvatore of Re/Max Nova, to Infobae.
Demand appears dynamic and determined to purchase, while supply is somewhat more reserved, awaiting the results of the elections. Another reason driving current demand is that the buying and selling market was held up for years; Instead of completing operations, and given the downward trend in property values, they were only looking for opportunities.
Historically, the last quarter of the year marks the peak of activity in the real estate sector. From spring to the end of the year, activity increases as people look to finish projects before the calendar ends.
Two-bedroom in Palermo among the best sellers. Today an apartment like this averages USD 128,000 in this multifaceted neighborhood (Photo Courtesy: Re/Max Nova)
In relation to the current electoral context, Román Paikin , from San Román Propiedades, commented to Infobae: “once the general elections are over and days before the runoff, the market has already discounted all possible scenarios, and no major changes are anticipated in the values of the properties. Given the perception that prices have already fallen enough and no significant falls are expected, buyers are being encouraged to complete transactions.”
On the other hand, the supply of real estate decreased after reaching a maximum of 160,000 units; Currently there are around 113,000 homes offered. “Despite this, an improvement is observed in the number of writings in September compared to the same month of the previous year. This increase is modest for a city like Buenos Aires, where the monthly volume of operations does not reach 4,000, but exceeds the 2,800 that averaged during 2021,” Paikin added.
Agustín Walger , from Lepore Propiedades, told Infobae that there are currently two different groups of buyers. “On the one hand, those who take advantage of the lowest sales prices in the last 15 years, especially in projects under construction or brand new apartments. These buyers are looking to close their operations before Sunday, given the possibility of a devaluation if the dollar gets out of control after next week. On the other hand, there are buyers who speculate on an increase in the dollar and prefer to wait, anticipating that the currency will skyrocket after the runoff.
The activity continues to show dynamism in CABA and also the users who buy in well
In the well market in neighborhoods such as Caballito, Villa Urquiza, Almagro, Palermo, Saavedra, San Telmo, among others, users look for the best price per square meter. Many of these profiles have dollars and surpluses in pesos, which they use adjusted by the Construction Chamber Index (CAC) to dollarize through the home once it is finished.
“With respect to value, for the most part, they are oriented towards units with a smaller surface area, from one to three rooms, with measurements that range between 30 and 70 m2. Currently, in the well market, there are opportunities starting from USD 40,000, an option that did not exist before,” Walger added.
Another factor driving this recovery in demand is that properties appear to have reached their lowest value.
Salvatore noted: “Generally speaking, they are middle-class clients looking for their own home, either selling to buy or using savings. Stable prices offer them a favorable environment to carry out a project that was on hold due to declining prices in previous years. In addition, the urgency to buy intensifies due to market uncertainty after the elections.”
View of an area close to Juan B. Justo and San Martín avenues, in Villa Crespo (Photo Courtesy: San Román Propiedades)
In neighborhoods such as Agronomía, Villa del Parque, Villa Crespo, Parque Chas, Floresta, for example, the majority of purchase and sale transactions focus on house-type apartments or townhouses, which offer spaces such as patios and terraces, and do not have construction costs. expenses. The average price there ranges from $80,000.
Paikin added: “What sells the least are houses on their own lot, either because of their high values or for security reasons.” While in Palermo, one of the most sought-after areas in CABA along with Puerto Madero, Belgrano and Núñez, the value per m2 starts at USD 2,100 and new prices can go up to USD 4,000 per m2.
https://buysellba.com/news-/-media/f/before-the-ballot-the-purchase-and-sale-of-homes-was-activated
www.buysellba.com
November 18, 2023
In the run-up to the ballot, the purchase and sale of homes was activated: The number of inquiries and operations increased
The active search on the part of the demand contrasts with a more cautious supply. What is the price range that moves the most, both in the case of homes under construction and used properties?
Experts recognized that prior to the runoff there was a lot of movement in the Buenos Aires real estate market (Photo: Getty Images)
In the days before the general elections, the real estate market experienced a striking increase in the number of inquiries and property purchase and sale transactions. This phenomenon is developing in the midst of pre-electoral uncertainty, ahead of this Sunday's presidential runoff. Contrary to expectations, some experts noted, the market is more active than in recent months and demand increased by close to 20 percent.
“This phenomenon responds to several factors. As for the buyer, economic uncertainty drove the need to bet on bricks as a safe investment. Although this attitude is common in our market, it intensified due to two very different scenarios presented by the two current candidates,” acknowledged Esteban Salvatore of Re/Max Nova, to Infobae.
Demand appears dynamic and determined to purchase, while supply is somewhat more reserved, awaiting the results of the elections. Another reason driving current demand is that the buying and selling market was held up for years; Instead of completing operations, and given the downward trend in property values, they were only looking for opportunities.
The risk of doing nothing
“Today, that scenario was replaced by the need to give a cut and a final destination to the move in view of an uncertain future. It is better to buy something than risk not being able to buy anything or doing it in worse conditions than planned,” Salvatore explained.Historically, the last quarter of the year marks the peak of activity in the real estate sector. From spring to the end of the year, activity increases as people look to finish projects before the calendar ends.
Two-bedroom in Palermo among the best sellers. Today an apartment like this averages USD 128,000 in this multifaceted neighborhood (Photo Courtesy: Re/Max Nova)
In relation to the current electoral context, Román Paikin , from San Román Propiedades, commented to Infobae: “once the general elections are over and days before the runoff, the market has already discounted all possible scenarios, and no major changes are anticipated in the values of the properties. Given the perception that prices have already fallen enough and no significant falls are expected, buyers are being encouraged to complete transactions.”
On the other hand, the supply of real estate decreased after reaching a maximum of 160,000 units; Currently there are around 113,000 homes offered. “Despite this, an improvement is observed in the number of writings in September compared to the same month of the previous year. This increase is modest for a city like Buenos Aires, where the monthly volume of operations does not reach 4,000, but exceeds the 2,800 that averaged during 2021,” Paikin added.
Refuge, even in a well
Due to the prolonged electoral process and the volatility in the exchange rate, uncertainty arose among investors and users, who perceive that the real estate sector continues to be a safe haven.Agustín Walger , from Lepore Propiedades, told Infobae that there are currently two different groups of buyers. “On the one hand, those who take advantage of the lowest sales prices in the last 15 years, especially in projects under construction or brand new apartments. These buyers are looking to close their operations before Sunday, given the possibility of a devaluation if the dollar gets out of control after next week. On the other hand, there are buyers who speculate on an increase in the dollar and prefer to wait, anticipating that the currency will skyrocket after the runoff.
The activity continues to show dynamism in CABA and also the users who buy in well
In the well market in neighborhoods such as Caballito, Villa Urquiza, Almagro, Palermo, Saavedra, San Telmo, among others, users look for the best price per square meter. Many of these profiles have dollars and surpluses in pesos, which they use adjusted by the Construction Chamber Index (CAC) to dollarize through the home once it is finished.
“With respect to value, for the most part, they are oriented towards units with a smaller surface area, from one to three rooms, with measurements that range between 30 and 70 m2. Currently, in the well market, there are opportunities starting from USD 40,000, an option that did not exist before,” Walger added.
How much do they sell for?
The predominant amount in purchase-sale transactions fluctuates between USD 40,000 and USD 100,000 for well-located homes, while for used apartments it ranges between USD 95,000, for well-located 2-bedroom apartments.Another factor driving this recovery in demand is that properties appear to have reached their lowest value.
Salvatore noted: “Generally speaking, they are middle-class clients looking for their own home, either selling to buy or using savings. Stable prices offer them a favorable environment to carry out a project that was on hold due to declining prices in previous years. In addition, the urgency to buy intensifies due to market uncertainty after the elections.”
View of an area close to Juan B. Justo and San Martín avenues, in Villa Crespo (Photo Courtesy: San Román Propiedades)
In neighborhoods such as Agronomía, Villa del Parque, Villa Crespo, Parque Chas, Floresta, for example, the majority of purchase and sale transactions focus on house-type apartments or townhouses, which offer spaces such as patios and terraces, and do not have construction costs. expenses. The average price there ranges from $80,000.
Paikin added: “What sells the least are houses on their own lot, either because of their high values or for security reasons.” While in Palermo, one of the most sought-after areas in CABA along with Puerto Madero, Belgrano and Núñez, the value per m2 starts at USD 2,100 and new prices can go up to USD 4,000 per m2.
https://buysellba.com/news-/-media/f/before-the-ballot-the-purchase-and-sale-of-homes-was-activated
www.buysellba.com
