BuySellBA
Administrator
The curious reason real estate ended 2022 as best year of last 4 - El Cronista
January 24, 2023
Journalist. Business and Real Estate - January 24, 2023
The sale and purchase of properties ended the year with rising numbers. The College of Notaries of the City of Buenos Aires registered the best December of the last 4 years.
Property sales ended in 2022 with rising numbers. According to data from the College of Notaries of the City of Buenos Aires , 4,253 operations were closed in December, which translates into a year-on-year increase of 25.7% , while the total amount of transactions in 2022 climbed 45.9%.
The main explanation has to do with the drop in prices , which dropped as much as 30% since the pandemic, which sped up the purchase decision. In addition, the instability generated by the elections in 2023 is added, which caused many to rush the decision to acquire real estate.
"Those who had the intention of buying, especially for their own use, observe that the values adjusted and that it is not worth waiting any longer, speculating towards a much stronger drop in the short term," argued José Rozados, director and founder of Real Estate Report .
And it is that, as explained by the market, prices seem to have reached their downward floor and in 2023 the deceleration will be very slow with a price freeze, at least in the first semester.
www.buyellba.com
Compared to November, closings grew by 26.2% , because in the previous month 3,369 operations were registered.
The future of the industry
Although the numbers are encouraging, for the sector they are far from the average. And the lack of mortgage loans is felt. "A year is closing that in numbers is the best since 2018 and December was also the best month in four years. It is a reflection of the slow recovery since the pre-pandemic and everything we experienced afterwards," explained Jorge De Bártolo, president of the College of Notaries.
"These numbers also clearly express that it is a market without credit, because of those 33,753 operations - which were registered in all of 2022 - there are only 1,441 mortgages in the year . With few tools, there would be resounding growth in the sector with multiplier effects, hopefully in 2023 begin to find that path," added De Bártolo.
The year ended with rising numbers for the sector
For Rozados, the boom in December 2022 is due to a rebound effect . "They grow with respect to previous years with very low numbers, however the figures for December cannot be taken with too much optimism, they continue at historically low levels," he added.
It must be remembered that "2019 was a year of criticism, with full political advance against Mauricio Macri, in 2020 the government changed and the pandemic arrived that also affected all of 2021. It was not until 2022 that there was an almost total opening. It is a logical rebound in the face of so much restriction and demand withheld from previous years , "concluded Rozados.
January 24, 2023
Journalist. Business and Real Estate - January 24, 2023
The sale and purchase of properties ended the year with rising numbers. The College of Notaries of the City of Buenos Aires registered the best December of the last 4 years.
Property sales ended in 2022 with rising numbers. According to data from the College of Notaries of the City of Buenos Aires , 4,253 operations were closed in December, which translates into a year-on-year increase of 25.7% , while the total amount of transactions in 2022 climbed 45.9%.
The main explanation has to do with the drop in prices , which dropped as much as 30% since the pandemic, which sped up the purchase decision. In addition, the instability generated by the elections in 2023 is added, which caused many to rush the decision to acquire real estate.
"Those who had the intention of buying, especially for their own use, observe that the values adjusted and that it is not worth waiting any longer, speculating towards a much stronger drop in the short term," argued José Rozados, director and founder of Real Estate Report .
And it is that, as explained by the market, prices seem to have reached their downward floor and in 2023 the deceleration will be very slow with a price freeze, at least in the first semester.
www.buyellba.com
Compared to November, closings grew by 26.2% , because in the previous month 3,369 operations were registered.
The future of the industry
Although the numbers are encouraging, for the sector they are far from the average. And the lack of mortgage loans is felt. "A year is closing that in numbers is the best since 2018 and December was also the best month in four years. It is a reflection of the slow recovery since the pre-pandemic and everything we experienced afterwards," explained Jorge De Bártolo, president of the College of Notaries.
"These numbers also clearly express that it is a market without credit, because of those 33,753 operations - which were registered in all of 2022 - there are only 1,441 mortgages in the year . With few tools, there would be resounding growth in the sector with multiplier effects, hopefully in 2023 begin to find that path," added De Bártolo.
The year ended with rising numbers for the sector
For Rozados, the boom in December 2022 is due to a rebound effect . "They grow with respect to previous years with very low numbers, however the figures for December cannot be taken with too much optimism, they continue at historically low levels," he added.
It must be remembered that "2019 was a year of criticism, with full political advance against Mauricio Macri, in 2020 the government changed and the pandemic arrived that also affected all of 2021. It was not until 2022 that there was an almost total opening. It is a logical rebound in the face of so much restriction and demand withheld from previous years , "concluded Rozados.
