BuySellBA
Administrator
The real estate market is hitting the brakes: Did October mark the end of the "boom" in property sales? - La Nacion Propiedes
Source:
www.lanacion.com.ar
November 26, 2025
Data from property deeds in the city of Buenos Aires reflected a market that may be starting to stagnate, marked by the tightening of mortgage loan conditions.
By Candela Contreras
In October, only 0.3% more mortgages were signed in CABA than in the previous month.Shutterstock - Shutterstock
The " pivotal period " that real estate market analysts have been highlighting is increasingly reflected in the data . August, September, and October were months in which this lagged effect of real estate sales transactions was evident ; that is, they showed positive figures due to transactions initiated in previous months.
In this regard, both the province of Buenos Aires and the City of Buenos Aires showed positive figures in October , although in the City of Buenos Aires the improvement was so slight that it leaves the impression of a market beginning to plateau. According to data from the Buenos Aires Notary Association , 7,018 deeds were signed that month , only 0.3% more than the 6,998 deeds formalized the previous month. Meanwhile, the year-on-year increase was 17.2% , positioning October as the second-best in the series in almost 30 years .
The total amount involved reached $1,175,883 million (an 85.1% year-over-year increase), with an average transaction value of $167,552,533 (equivalent to US$114,067). This demonstrates that mid-priced used car departments were the main drivers of this period, but will be the most affected when the data for the following months is released. Transactions grew 57.9% year-over-year in pesos, and climbed 8.9% in US dollars.
However, the used segment has a major advantage : historically low prices and a price/asset ratio that makes it relatively cheaper than other instruments in the Argentine economy.
So far this year, more than 56,000 transactions have been formalized, of which more than 12,000 were mortgaged. That is, 21% of the total purchases were made with mortgage loans. Despite these figures, there is still a long way to go to increase that percentage, and it remains far from the UVA boom during Mauricio Macri's administration, when 2,300 mortgage deeds were registered in a single month.
“In October we exceeded 7,000 transactions, a feat that has only occurred twice since we began tracking this data in 1998. It was only surpassed by October 2006, but it underscores the great year we are having,” stated Magdalena Tato, president of the organization.
So far this year, more than 56,000 transactions have been formalized in the city of Buenos Aires. Freepik photo
In concrete terms, 1,501 mortgage deeds were formalized , representing a 59% year-on-year increase and only a 1% increase compared to September. In the first 10 months of the year, the City of Buenos Aires (CABA) recorded 12,328 mortgage transactions, a 323% increase compared to the same period last year.
“We reiterate that, contrary to all predictions of a certain mortgage slowdown, it was the best mortgage month of this new credit cycle, because we achieved 1,501 transactions in banks,” Tato added.
However, behind this encouraging data lies a reality that dampens any enthusiasm : banks continue to raise their rates, despite all predictions of readjustment following the ruling party's victory in the October 26 elections. Although some banks "improved" their terms, more institutions raised their rates than lowered them .
Even with the encouraging figures for September, analysts explain that these loans correspond to approvals made before the dollar's rise and a scenario of more moderate interest rates. "These are transactions that had been in the works for four months or more, during a period of pre-election stability," sources in the sector agree.
According to Federico González Rouco, an economist specializing in housing, many of the current deeds "correspond to processes initiated about three months ago, before the September elections in the province of Buenos Aires." He explains that at that time, interest rates "were already high, but slightly lower than now." He also points out that the impact of the dollar remains significant: " The perception that this situation may be coming to an end is causing people to rush to secure their loans and seek strategies to compensate for what the dollar reduces their potential financing."
For his part, González Rouco anticipates that mortgage transactions will level off in November , but it will be a slow process,” says Federico González Rouco, an economist specializing in housing. “Unless there’s a very sharp jump in the dollar, I don’t foresee an abrupt drop like the one in 2018. Back then, the currency surge forced people out of the market. Now, the interest rate is also excluding people, but at a slower pace , so we’re not going to see a sharp decline,” he warns.
“My current feeling about the state of the real estate market is that people have ‘gone off and sunbathed .’ They aren’t thinking about making any big decisions at the moment, at least until 2026,” shares Soldad Balayan, owner of Maure Inmobiliaria.
Unlike the situation in the City of Buenos Aires (CABA) during the same month, “October’s figures continue to show sustained year-on-year growth in the Province, which is also reflected in mortgage activity . With this data, we observe that the overall trend is favorable for the sector,” stated Guillermo Longhi, president of the Buenos Aires Province Notary Association, who analyzed the data and positively assessed the evolution of the sector.
According to market brokers, this increase is due to " the continuation of a recovery cycle that has been building month by month ."
The increase in property deeds " reflects a pent-up demand that is finally materializing : families who had been postponing decisions in previous years, greater confidence in relative economic stability and, above all, people who feel that it is time to move from saving to owning property," says Alan Flexer, branch manager at Narvaez in San Isidro.
“If the trend continues, the year will end very strongly, probably with 2025 consolidating itself as one of the best years in recent times in terms of the number of deeds, since November-December are traditionally strong months due to seasonal issues and decisions that accelerate before the end of the year,” Flexer adds.
But also, "Argentine savers are taking advantage of the fact that prices still have room to rise," as Charlie D'Aria of D'Aria Properties explains.
In the province of Buenos Aires the increase was greater: deeds in October increased by 7% compared to SeptemberAlejandro Guyot
Furthermore, although the rise in interest rates affected those seeking bank financing , according to D'Aria, "savers don't depend exclusively on loans, a product of Argentina's unique economic and cultural characteristics." Today, there are various ways to access property : "Developers, for example, are launching their own financing plans that encourage real estate transactions . These kinds of opportunities keep the market moving," the broker adds.
As Mariano Mackes, branch manager at Narvaez in Tigre, explains: “ While the rate increase exists, it hasn't slowed down the activity because the mere fact that credit is available is already a positive development. Furthermore, many of the loans that were recently finalized were pre-approved (45 to 90 days prior), so the rate adjustment takes a little longer to be reflected in the statistics .”
It was recently confirmed that the amount disbursed for mortgage loans in October increased compared to September. Therefore, the rise in mortgage deeds was expected and reflected a rush to close deals before the elections. Specifically, US$372 million was disbursed.
Longhi highlighted the role of credit as a driver of the market : “The marked increase in the number of mortgages demonstrates how this growth positively impacts market development. Therefore, the College views the consolidation of mortgage lending as a positive sign, as it will sustain growth and expand access to housing.”
In this regard, D'Aria states that it is desirable for the country to move towards a standardized mortgage system , comparable to that of developed countries. However, “for the new-build real estate market to regain the necessary dynamism—driving appreciation and the revitalization of various areas—it is crucial that construction costs also normalize. Today, the sector's recovery process is clear, and we are confident that it will continue along the same lines .”
Furthermore, an important factor to consider in these October figures is the accelerated pace of decision-making. “Many buyers feel that if they find a property that suits them in terms of location, price, and financing, it’s best not to delay. This is especially true for those taking out a mortgage: there’s a perception that conditions could tighten in the future, and that’s pushing them to close the deal,” explains Mackes, adding that it’s not just a sense of urgency, but rather a “combination of greater confidence and a concrete opportunity . After several years of waiting, those who were seriously considering a property are now making a decision.”
www.buysellba.com
www.buysellba.com
Source:
El mercado inmobiliario pisa el freno: ¿octubre marcó el fin del “veranito” en las escrituras?
Los datos de las escrituras de la ciudad de Buenos Aires reflejaron un mercado que puede comenzar a estancarse, marcado por el endurecimiento en las condiciones de los créditos hipotecarios
www.lanacion.com.ar
November 26, 2025
Data from property deeds in the city of Buenos Aires reflected a market that may be starting to stagnate, marked by the tightening of mortgage loan conditions.
By Candela Contreras
In October, only 0.3% more mortgages were signed in CABA than in the previous month.Shutterstock - Shutterstock
The " pivotal period " that real estate market analysts have been highlighting is increasingly reflected in the data . August, September, and October were months in which this lagged effect of real estate sales transactions was evident ; that is, they showed positive figures due to transactions initiated in previous months.
In this regard, both the province of Buenos Aires and the City of Buenos Aires showed positive figures in October , although in the City of Buenos Aires the improvement was so slight that it leaves the impression of a market beginning to plateau. According to data from the Buenos Aires Notary Association , 7,018 deeds were signed that month , only 0.3% more than the 6,998 deeds formalized the previous month. Meanwhile, the year-on-year increase was 17.2% , positioning October as the second-best in the series in almost 30 years .
The total amount involved reached $1,175,883 million (an 85.1% year-over-year increase), with an average transaction value of $167,552,533 (equivalent to US$114,067). This demonstrates that mid-priced used car departments were the main drivers of this period, but will be the most affected when the data for the following months is released. Transactions grew 57.9% year-over-year in pesos, and climbed 8.9% in US dollars.
However, the used segment has a major advantage : historically low prices and a price/asset ratio that makes it relatively cheaper than other instruments in the Argentine economy.
So far this year, more than 56,000 transactions have been formalized, of which more than 12,000 were mortgaged. That is, 21% of the total purchases were made with mortgage loans. Despite these figures, there is still a long way to go to increase that percentage, and it remains far from the UVA boom during Mauricio Macri's administration, when 2,300 mortgage deeds were registered in a single month.
“In October we exceeded 7,000 transactions, a feat that has only occurred twice since we began tracking this data in 1998. It was only surpassed by October 2006, but it underscores the great year we are having,” stated Magdalena Tato, president of the organization.
So far this year, more than 56,000 transactions have been formalized in the city of Buenos Aires. Freepik photo
The stagnation of mortgage loan transactions in CABA
Mortgage lending , a key driver of the recovery, although it showed an increase in October, was only slightly higher compared to previous months. Even so, it was the highest month of this mortgage recovery.In concrete terms, 1,501 mortgage deeds were formalized , representing a 59% year-on-year increase and only a 1% increase compared to September. In the first 10 months of the year, the City of Buenos Aires (CABA) recorded 12,328 mortgage transactions, a 323% increase compared to the same period last year.
“We reiterate that, contrary to all predictions of a certain mortgage slowdown, it was the best mortgage month of this new credit cycle, because we achieved 1,501 transactions in banks,” Tato added.
However, behind this encouraging data lies a reality that dampens any enthusiasm : banks continue to raise their rates, despite all predictions of readjustment following the ruling party's victory in the October 26 elections. Although some banks "improved" their terms, more institutions raised their rates than lowered them .
Even with the encouraging figures for September, analysts explain that these loans correspond to approvals made before the dollar's rise and a scenario of more moderate interest rates. "These are transactions that had been in the works for four months or more, during a period of pre-election stability," sources in the sector agree.
According to Federico González Rouco, an economist specializing in housing, many of the current deeds "correspond to processes initiated about three months ago, before the September elections in the province of Buenos Aires." He explains that at that time, interest rates "were already high, but slightly lower than now." He also points out that the impact of the dollar remains significant: " The perception that this situation may be coming to an end is causing people to rush to secure their loans and seek strategies to compensate for what the dollar reduces their potential financing."
What can we expect in the future in Buenos Aires?
“As for forecasts, it is not impossible that we will close 2025 with more than 70,000 deeds of sale, a figure that has not been achieved since 2007. But for this we have to continue simultaneously and at a steady pace and work to ensure that mortgage lending does not decline and generates a virtuous cycle,” assured the president of the association.For his part, González Rouco anticipates that mortgage transactions will level off in November , but it will be a slow process,” says Federico González Rouco, an economist specializing in housing. “Unless there’s a very sharp jump in the dollar, I don’t foresee an abrupt drop like the one in 2018. Back then, the currency surge forced people out of the market. Now, the interest rate is also excluding people, but at a slower pace , so we’re not going to see a sharp decline,” he warns.
“My current feeling about the state of the real estate market is that people have ‘gone off and sunbathed .’ They aren’t thinking about making any big decisions at the moment, at least until 2026,” shares Soldad Balayan, owner of Maure Inmobiliaria.
The situation in the province of Buenos Aires
In October, 15,321 real estate transactions were completed in the Province , according to the monthly survey by the Buenos Aires Notary Association. This figure represents a 7% increase compared to the 14,366 transactions in September . The level of activity remains high and consolidates the trend of recent months: it is 23% higher than the 11,213 deeds registered in October 2024 .Unlike the situation in the City of Buenos Aires (CABA) during the same month, “October’s figures continue to show sustained year-on-year growth in the Province, which is also reflected in mortgage activity . With this data, we observe that the overall trend is favorable for the sector,” stated Guillermo Longhi, president of the Buenos Aires Province Notary Association, who analyzed the data and positively assessed the evolution of the sector.
According to market brokers, this increase is due to " the continuation of a recovery cycle that has been building month by month ."
The increase in property deeds " reflects a pent-up demand that is finally materializing : families who had been postponing decisions in previous years, greater confidence in relative economic stability and, above all, people who feel that it is time to move from saving to owning property," says Alan Flexer, branch manager at Narvaez in San Isidro.
“If the trend continues, the year will end very strongly, probably with 2025 consolidating itself as one of the best years in recent times in terms of the number of deeds, since November-December are traditionally strong months due to seasonal issues and decisions that accelerate before the end of the year,” Flexer adds.
But also, "Argentine savers are taking advantage of the fact that prices still have room to rise," as Charlie D'Aria of D'Aria Properties explains.
In the province of Buenos Aires the increase was greater: deeds in October increased by 7% compared to SeptemberAlejandro Guyot
Furthermore, although the rise in interest rates affected those seeking bank financing , according to D'Aria, "savers don't depend exclusively on loans, a product of Argentina's unique economic and cultural characteristics." Today, there are various ways to access property : "Developers, for example, are launching their own financing plans that encourage real estate transactions . These kinds of opportunities keep the market moving," the broker adds.
Mortgage credit in the Province
Mortgages in the Province also rose in October : 2,600 transactions were registered, a 99% year-on-year jump compared to the 1,308 registered in the same month last year. Compared to September, the increase was 7% . This indicates that the recent increases in bank interest rates have not yet had a significant impact on transactions in October, as these are processes initiated approximately four months prior.As Mariano Mackes, branch manager at Narvaez in Tigre, explains: “ While the rate increase exists, it hasn't slowed down the activity because the mere fact that credit is available is already a positive development. Furthermore, many of the loans that were recently finalized were pre-approved (45 to 90 days prior), so the rate adjustment takes a little longer to be reflected in the statistics .”
It was recently confirmed that the amount disbursed for mortgage loans in October increased compared to September. Therefore, the rise in mortgage deeds was expected and reflected a rush to close deals before the elections. Specifically, US$372 million was disbursed.
Longhi highlighted the role of credit as a driver of the market : “The marked increase in the number of mortgages demonstrates how this growth positively impacts market development. Therefore, the College views the consolidation of mortgage lending as a positive sign, as it will sustain growth and expand access to housing.”
In this regard, D'Aria states that it is desirable for the country to move towards a standardized mortgage system , comparable to that of developed countries. However, “for the new-build real estate market to regain the necessary dynamism—driving appreciation and the revitalization of various areas—it is crucial that construction costs also normalize. Today, the sector's recovery process is clear, and we are confident that it will continue along the same lines .”
Furthermore, an important factor to consider in these October figures is the accelerated pace of decision-making. “Many buyers feel that if they find a property that suits them in terms of location, price, and financing, it’s best not to delay. This is especially true for those taking out a mortgage: there’s a perception that conditions could tighten in the future, and that’s pushing them to close the deal,” explains Mackes, adding that it’s not just a sense of urgency, but rather a “combination of greater confidence and a concrete opportunity . After several years of waiting, those who were seriously considering a property are now making a decision.”
www.buysellba.com
www.buysellba.com
