The amount of Real estate deeds grew 28.3% in CABA in June, While if you compare with the same month last year, when the market was completely stopped due to the restrictions generated by the coronavirus pandemic, the recovery reaches 73.6%, according to estimates by the College of Notaries of the Autonomous City of Buenos Aires.
From the report, released this Monday, it appears that 2,439 deeds were recorded last month, a rise of more than 28%, a positive record after two months of consecutive falls.
Those acts of deeds of sale totaled a total amount of $ 23,233 million, which represents a rise of 127%.
The average amount of the acts was $ 9,526,021, or US $ 94,720 according to the average official exchange rate): it rose 31% in one year in pesos, and in US currency it fell 5.6%.
There were 130 deeds formalized with a bank mortgage.
In June, There were 130 deeds formalized with a bank mortgage. So the raise in that sense is 3.2%. And the first 6 months accumulate a growth of deeds with credit of 166.2%. In the total acts, the first six months of the year register a recovery of 100.3%.
“This first semester speaks clearly that the recovery is only compared to 2020, with the worst year that could have been had”, explained Carlos Allende, president of the College of Notaries. And I add: “There are 12,0000 writings, which is almost double compared to last year, when in a good year we had 15,000 or 20,000 more”.
“As there is no credit, with controls for access to the currency that the properties are quoted and with unresolved macroeconomic issues, it is a scenario that does not see a quick exit ”, he concluded.
The May Report
The number of real estate purchase and sale operations registered a rise of 179.1% in May compared to the same month last year. However, the increase it was the product of a very bad base comparison.
In the fifth month of the year, carried out 1,901 deeds of sale, compared to 681 last year, and the amount involved was $ 15,619 million, with an interannual increase of 155.3%, indicated the survey of the College of Notaries of the City of Buenos Aires.
“While comparing the five months of 2021 with 2020 gives us 100% growth, We also see that the months of May and April had negative records in the inter-monthly measurement, which confirms that it is a level of activity that has not yet taken off, “Allende pointed out at the time.