The real estate market begins to take momentum leveraged by mortgage credit

In November, the real estate market continued its upward trend: There were more purchase and sale operations year-on-year and the share of mortgage loans continued to grow slowly. in transactions. A situation that, according to real estate agencies and developers, would continue to consolidate in 2025.

In the Federal Capital, the total amount of purchase and sale deeds increased 41.5% compared to the level of a year beforeadding 5,755 records, while the total amount of transactions rose 342.6%, with $584,653 million.

“There is a slight inter-monthly decrease, but minimal,” explains Jorge De Bartolo, referring to the fact that, compared to October, events decreased by 3.9%. “But, last year there was also a slight decrease in the November-October comparison: this time it may be the closure of laundering has had an impact“, he estimated.

However, according to the manager, “with this panorama we almost tie 2018, a year in which it had exceptional mortgage leverage in the first half of the year. In that logic, the photo from these years is of a 6-year climb up stairs, and we hope to continue climbing,” he said.

According to the statistics of the Buenos Aires College, the average amount of the acts was $101,590,456 ((US$99,500 according to the exchange rate: it grew 212.9% in one year in pesos, and in US currency it rose 13.4%. In November, There were 950 deeds formalized with a mortgage. Therefore, the increase in that sense is 472.3% compared to the same month last year and 152% in the accumulated amount of the year (3,864 mortgage deeds in total).

According to De Bártolo: “We are going to close the last quarter of the year with records of almost 6 thousand monthly purchase and sale operations and it is a good indicator because we will close at 53 thousand total writings in 2024. With the credit incentive, we noticed that the second semester had a boost for activity and, with everything we have worked on this year, we hope that in 2025 the mortgages will be consolidated and have a floor of a thousand operations in that sense.”

At a recent ZonaProp event, Martin Boquete, partner at Toribio Achával, said that, “in 2025, demand is going to multiply. Although we are all happy because there are more mortgages and it helps to sell, today they are incipient in terms of the number of operations.” But he considered that “Next year’s star is going to be financingand the ventures are going to grow in sales volume, both the well ones, the construction ones and even the finished ones,” he predicted.

In the province of Buenos Aires, the real estate market also showed signs of growth again during November, according to the monthly survey of the Buenos Aires College of Notaries.

The 12,260 registered sales in this area marked an increase of 26.40% compared to the 9,700 operations carried out in the same month of 2023. In addition, the numbers reflected a month-on-month increase of 9.34% compared to the 11,213 writings in October, consolidating November as the month with the highest number of operations so far in 2024.

Regarding mortgages, a positive trend was also observed in the Province. 1,417 were signed during November, which represented an increase in 8,33 % compared to 1,308 the previous month and a year-on-year growth of 230% compared to 429 mortgages in November 2023.

The president of the Association of Notaries of the Province of Buenos Aires, Guillermo Longhi, analyzed the data and highlighted the positive trend: “The increase in sales, as well as that of mortgages, are encouraging signs for the sector. However, we hope that in the coming months this trend can be sustained,” he said.

According to the manager, “Expanding the supply of mortgage loans is a key step, whose results will be accentuated in the coming months. This will be important both for those looking to access their first home, and for those who see properties as an investment alternative,” added Longhi.

Regarding this expansion, Banco Ciudad has just launched a new line of mortgage loans for the acquisition of homes that are in the pipeline or in the initial stages of construction within the City of Buenos Aires. In principle, they are for small to medium-scale developments, with the majority of units up to 70 m2 covered, for the purchase of a single home for permanent occupancy.

The financing, for a maximum period of 20 years – after the work is completed -, reaches up to 75% of the sale value of the property and up to an amount of $350 million. The unit of account for the loans is the UVA(1), plus a fixed interest rate, and for developments in the central area and polygons located in the south of CABA there will be a preferential interest rate.