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The trend was reversed: After 5 years, apartment prices in CABA increased again - Infobae
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Se revirtió la tendencia: después de 5 años, volvieron a aumentar los precios de departamentos en CABA
El último informe del Índice de M2 real revela un incremento del 4,56% en los valores de cierre de propiedades usados. Cómo impacta eso en el mercado inmobiliario y los potenciales compradores
www.infobae.com
April 9, 2024
The latest Real M2 Index report reveals a 4.56% increase in used property closing values. How does this impact the real estate market and potential buyers?
By José Luis Cieri
The decline in housing prices has stopped and there is a change in trend. Specialists maintain that it is a good time to buy in CABA (Illustrative Image Infobae)
The latest report of the Real M2 Index revealed an increase in the value of apartments used for buying and selling in the city of Buenos Aires. It is confirmed that the trend of consecutive falls for almost 5 years was reversed.
According to the private report corresponding to the month of February, an increase of 4.56% is observed in the closing prices of used apartments compared to the previous month.
This increase, although significant, is framed within a broader context of price evolution in the real estate market.
This index, prepared in collaboration between the CEMA University and RE/MAX Argentina, supported by Real Estate Report, offers a detailed view of the evolution of the average price of the effective square meter in the Argentine capital.
When analyzing the data compared to the same month of the previous year, a general increase in the price of apartments is observed, with an increase of USD 100 in the average value per square meter, which is equivalent to an increase of 5.8 percent. hundred.
However, when going back to January 2020, the month the index started, it is found that the current value is still 16% below.
“The importance of firm action by the Government to straighten the economy and generate certainty, which could lead to various scenarios, including the search for a point of stability in property values,” Miguel Di Maggio told Infobae , director of the real estate company Depa.
Two- and three-bedroom apartments are among those that sell the most in CABA
In addition to the interest in buying two and three rooms for final use, especially in neighborhoods such as Palermo, Recoleta, Belgrano, Villa Urquiza, Caballito, San Telmo, Villa Crespo and Villa Devoto, among others, Núñez is positioned .
“We observe how families and young people choose neighborhoods like Núñez for its strategic location, surroundings of nature and tranquility, and its proximity to top-quality educational institutions. In this context, the continuous revaluation of the real estate market in this northern Buenos Aires layout. It is a solid and promising investment option for those looking for long-term growth opportunities,” said Iván Chomer , CEO of GCH.
By types of departments
Regarding the segmentation by number of rooms, it is highlighted that the price per square meter in the sales of studio apartments reached USD 2,015, registering an increase of USD 200 compared to January 2024.For their part, 2-room units were priced at USD 1,785, while 3-room apartments were around USD 1,740, marking a difference of almost USD 50 less when compared to the previous year.
Regarding the gap between the value per m2 of the operations completed in February 2023 and the last published value of the property, known as the counteroffer range, an average decrease of -5.98 percent is observed. “It is interesting to note that two-room units showed the narrowest gap, reaching -5.59% for the same period,” the analysis confirmed.
José Rozados , from Reporte Inmobiliario, highlighted that “the average value of a used studio apartment was USD 67,000 last October. At the upper end, 4-room apartments reached an average value of USD 140,000, while 2- and 3-room units were listed at USD 75,750 and USD 110,000 respectively.”
The data provided by the index indicate that it is an optimal time to buy or rent a property due to the high supply available.
The market appears flexible and willing to negotiate, adapting to the needs of the potential buyer in search of satisfying their requirements.
Although historically the purchase and sale operations of apartments exceed those of houses or PHs, current demand is mainly focused on used or recently completed properties.
“This is mainly due to the increase in construction costs. Investing in a project under construction today implies an increase of up to 50% compared to a few months ago. The same occurs with the costs of spare parts in the units acquired. Therefore, the m2 of finished properties is perceived as a more attractive opportunity in the current real estate market,” concluded Diego Carranza , from a real estate company that operates in the Mataderos and Floresta area.
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