Soledad Navarro
05/27/2021 2:36 PM
Clarín.com
Economy
Updated 05/27/2021 3:44 PM
The real estate market is still in a vicious circle from which it cannot get out.
In the first half of May, a total of 111,503 apartments for sale were registered in the City, 8% more than the number registered in March when the number was 103,000, according to data from ZonaProp.
This oversupply continues to deepen the fall that prices in dollars have been showing for at least two years
and that the pandemic deepened.
"The value of the average square meter used for standard quality, without amenities, based on the survey carried out quarterly since 2005 was
US $ 1,732.2 per square meter
in May of this year
, while the average for the
previous quarter was US $ 1,810.6
, and a year ago in May 2020 it reached US $ 2,097.1 per m2 in CABA, "says the latest Real Estate Report report.
"The fall reaches 26.8%
if compared to the current value with the US $ 2,367 per square meter corresponding to the same month of the year 2019," the report details.
According to the Real Estate Report, prices have already gone back to the values observed during the first stocks of the Cristina Fernández government.
"
The current average value is even below that registered in May 2012 and 2013,
" he says.
In a context of low demand, very few operations are carried out, which leads to the stock accumulating and impacting prices.
"The number will continue to rise,
there is an overstock of properties for sale and an almost non-existent demand
,
"
explained Soledad Balayan, director of Maure Inmobiliaria.
For the broker, this scenario means that no one has the upper hand.
"
It's a time when the seller is in no rush and neither is the buyer
. Buyers take their time before deciding," he says.
For Germán Gómez Picasso, founder of Reporte Inmobiliario: "With regard to the drop in prices, we are seeing that
for now the drop was more marked in the Province of Buenos Aires than in the City
.
"
This drop in numbers marks that in the last year City
fell 17%
, and approached 30% in the last two years;
and Province experienced a drop of 22% in 12 months, and of 32% when compared to the 2019 records.
For specialists, sales prices no longer have much room to go down.
The specialist estimates that although
this stock continues to increase, prices no longer have much room to go down
.
"It would give the impression that prices reached a plateau, beyond a certain additional rebound that could be 5% or 6% in the next few months," he says.
Balayan, however, raises an extra concern and recognizes that it is very difficult to
make a concrete assessment of a market that is almost non-existent today
.
"As long as 4,000 operations are not achieved, the market almost does not exist," he warns.
And his assertion is supported by data.
The sale of properties in the City of Buenos Aires does not stop picking up.
In April, just 2,317 deeds were signed, a 6.2% drop compared to March.
The total amount of operations was also reduced: it fell by 10.9%, to $ 21,312 million, according to data from the Buenos Aires Notaries Association.
The average amount of the operations was $ 9,198,639, equivalent to $ 93,384.
YN
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