In a cramping real estate market, there are many options for those with savings on hand. Experts say that the prices of various properties in Buenos Aires have come down that touch 40% (according to the requirement of the seller) and there is an opportunity to bet on bricks.
Currently there is more than the oversupply 164,000 properties Posted on portals. There are units that have come down to USD 30,000 in three years and we are facing a scenario where the one who has the money moves on to be able to get more haircuts, however the seller accepts to go down more. do not because they understand that they already have valid significant decreases.
Not only do the prices of used apartments increase in free dollars, but more pesos are needed to be able to access housing than they did a year ago. In other words, for a two-room apartment that costs USD 70,000, $20,370,000 required (free at the rate of one dollar $291For example).
“It cannot be expected that the used apartment market will be accompanied by an increase in blue prices. The decline in recent times was huge and I think they are touching their destination ”(real estate)
“Today it cannot be expected that the used apartment market will be accompanied by an increase in blue prices. The decline in recent days was huge and I think they are touching their destination”, he clarified infobae a realtor.
They warn the market that prices will not continue to fall as inflation does not give up.
“We believe the buyer is aware that prices have fallen enough to go out and buy, which explains little behavior in this devaluation (unlike the others) where demand fell, which is the reason for asking inquiries after the rise this week. The free currency calms down,” said another expert in the sector.
The fall in property prices was experienced in both the new units (20% in three years), but the homes that adjusted their value the most were apartments, as they are the ones that offered the most.
Due to overstock and lack of sales, the real estate offering is at its historical maximum and today, for example, 3-room apartments in Palermo or Recoleta used to be priced USD 160,000 USD 130,00 . In, in buildings that are 35 years old. In 4 rooms, in units over 30 years old in Belgrano or Caballito, apartments that were previously worth USD 180,000 to USD 150,0 or further evaluation.
Almagro, a real estate agency operating between Caballito and Villa Crespo, argued that “now that the dollar’s influence is easing, there are more inquiries and some operations carried out because people have realized that verdes It’s like putting an ice cream in a drawer, it melts. And in complex times like the present day, I think it’s more appropriate to bet on the brick and its chances,
For the real estate market to thrive, experts say, there is a lack of confidence and inflation has subsided. There is caution and some hope after the new economy minister takes over. serge massaWhich of the measures announced Which would call on the national Congress to tackle the expansion of the money laundering law so that this regulation would allow undeclared money to be dispersed in the construction of homes.,
“But it will be It is significant that money laundering can also be used for the purchase of used apartments, which will mobilize the market and we believe many of these properties can once again enhance the rental offer. Law number 27,551 is very small today since it came into force,” said a broker.
In terms of the future, the market has everything to grow, it is practically on a floor, and from the floor you can go up in all aspects, mainly in the short term, in favor of the sector that has always existed , of investors, of people who invest in real estate of a valuable asset.
“Of course thinking in the long term, The only engine that really drives and powers the market is mortgage credit. And for us it is the tool that we promote the most from this sector but it clearly has legitimacy with a systematic macro economy or at least a little more systematic, which allows financial institutions to open up to long-term debt. gives”, concluded developer who works in Palermo, Colegiales and Villa Urquiza.