Election performance: Real estate sales had the best January in 4 years

Following elections STEP will define the political and economic scenario for the second half of the year. In this context, the receipt of savings in bricks is growing and this is reflected in the numbers College of Notaries Public of the City of Buenos Aires.

They were made during January in 1848 works of buy and sell. This translates as a 33.4% more than in the same month of 2022, and it is the best January in the last four years. The explanation is simple: depositors now want to define sales due to the fear of a change in the environment in the second half of the year.

One fact should be kept in mind: only 78 jobs with mortgage loans were completed, is the smallest number of the last one 15 years. And a sign that whoever buys on the real estate market today already has money in hand.

“Today we see a bigger decision to buy. Whoever has cash wants to throw it into the brick market because they don’t know what the outlook will be in the future ahead of the election,” he explained. Jorge Toselli, owner of JT Real Estate.

is it the following elections STEP Because of them, many want to direct their savings into bricks before the environment changes. “We won’t see a recovery this year, but there will be an increase in business typical of an election year,” he said for his part. Fabián Achával, owner of the real estate agency of the same name.

Compared to December, according to data from the Association of Public Notaries of Buenos Aires, business fell a 56%. It is that in December it reached the number of works 4253 operations breaking the record for the last four years.

“January is a seasonally low month, but the data are encouraging. We see a greater trend in business since the last quarter of the year”added Toselli.

Another piece of information that stands out in the last report is the average amount of the act that was presented this time USD 22,471,663, (almost 118,558 dollars according to the average official exchange rate): it rose in one year by 82% in pesos, and in US currency it rose 5.2 percent.

“Operations carried out in the last quarter have an average value between 100,000 and 120,000 US dollars. This shows us that the one who buys today is the end consumer who wants to take advantage of the drop in prices,” he pointed out. Daniel Bryn owner of I will invest in real estate.

“The beginning of 2022 has an increase compared to last year and we hope that it is an indicator of another expectation. And, on the contrary, it is the month with the fewest mortgages in a row for the month of January. That is why we insist that with the housing policy, the recovery would be known. Illustrative data, in January 2018 there were more mortgage records than the total number of sales in January 2020.3. We have just finished the best year since 2018, which is why we hope that little by little the real estate market will be able to turn around”, he concluded. Jorge De Bártolo, President of the College of Notaries Public.