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Property sales: 2022 was the best year since 2018

2023-01-24T17:56:46.671Z

Despite the recovery, in the sector they foresee a complicated 2023. With an increase of almost 26% in December, the sale of properties increased by 17.1% in all of 2022, reaching 33,753 deeds, the highest value since 2018, according to data from the Buenos Aires Notaries Association. The average amount of the operations was $16,970,504 (94,233 dollars, according to the average official exchange rate): it grew 92.4% in one year in pesos, and in US currency it rose



With an increase of almost 26% in December, the sale of properties increased by 17.1% in all of 2022, reaching 33,753 deeds,

the highest value since 2018,

according to data from the Buenos Aires Notaries Association.

The average amount of the operations was $16,970,504 (94,233 dollars, according to the average official exchange rate): it grew 92.4% in one year in pesos, and

in US currency it rose 14.8%.

"A year is closing that in numbers is the best since 2018 and the month of

December was also the best month in four years

," said Jorge De Bártolo, president of the College.

And he added: "It is a reflection of the

slow recovery

since the pre-pandemic and everything we experienced afterwards. It also clearly expresses that it

is a market without credit

, because of those 33,753 operations, there are only 1,441 mortgages in the year.

With few tools, there would be resounding growth

in the sector with multiplier effects, hopefully in 2023 it will start to find that path”.

In 2018, for example, 2,220 mortgage operations were carried out in the month of March alone, more than during the entire year of 2022.

Despite the improvement of 2022, the real estate market is still far from previous years.

For example, in 2017, 63,680 operations were carried out, twice as many as last year.

After a string of years with falling prices, by 2023 real estate companies calculate that prices will stabilize.

and they could only eventually rise again from 2024, with a change of government.

In the sector they see a complicated 2023, both in terms of sales and real estate developments.

In terms of prices, in the segment of used apartments, in the Federal Capital between March and November there was an accumulated drop of 7.72% in the case of studio apartments, 6% for one-bedroom units and 10% for the apartments with 3 and 4 rooms, according to data from the Real Estate Report.


look also

Renting an apartment in the City of Buenos Aires is worth twice as much as a year ago

Changes in the construction money laundering law: what properties can be bought now

Source: clarin

All business articles on 2023-01-24

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