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The sale of real estate fell 24% in September in the City

2020-10-26T17:56:46.806Z


They are data from the College of Notaries. It was the smallest drop so far this year. There was a 36% growth compared to August.


10/26/2020 2:47 PM

  • Clarín.com

  • Economy

  • colloquioidea

Updated 10/26/2020 2:47 PM

Real estate sales operations registered

a 24% drop

in the City of Buenos Aires in September compared to the same month last year, due to the restrictions faced by the activity due to the coronavirus pandemic.

According to information provided by the College of Notaries of the City, during the ninth month of this year

2,181 operations were completed,

with a year-on-year drop of 24%, and with an amount involved of $ 21,321 million, which was 9.5% greater than the previous year.

The average amount per deed in pesos in September was

$ 9,775,837,

with an interannual increase of 44.2%;

while in dollars the average amount was US $ 123,167, with a year-on-year increase of 6.8% based on

an average price of the dollar of $ 79.37.

Meanwhile,

the acts rose 36%

compared to August, when 1,604 deeds of sale had been finalized.

Number of deeds made in the City of Buenos Aires, according to data from the College of Notaries.

"We have two clear readings of the latest data: September was the best month of 2020, but we cannot help but see that there

are 28 months of year-on-year decline

," said the president of the Buenos Aires Notaries Association, Carlos Allende, in a statement.

He pointed out that "these nine months of the current period are

a decrease of 56%

compared to the same time in 2019, which was already the worst record in our historical series."

"We continue to bet on everything that the Real Estate Board can generate and we hope that the latest measures will generate an incentive for a sector that has been hit hard in recent years," he said.

For his part, the prosecutor of the College, Ricardo Blanco Lara, said that "the good news is that the number of operations rose 36% compared to August, but we continue with very low numbers."

"So far this year a

little more than 10,000 operations have been registered

, representing a 56% drop compared to 2019, which is the worst in our measurement," he remarked.

In this context, he considered that "

deepening tax incentives,

reducing tax rates, generating a fiscal honesty or cedines (investment certificates of deposits) to reactivate the market, are important options to consider".

In September, there were 98 deeds formalized with a bank mortgage, so the fall in this segment was 74.5% year-on-year, and in the first nine months of the year there was a 56.7% drop in deeds with credit.

AQ

Look also

The rise in the dollar pushes property prices down

Construction: will money laundering serve to reactivate the sector?

Source: clarin

All business articles on 2020-10-26

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