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Real Estate Market Shows Robust Growth, Though Mortgage Loan Pace Moderates
while the overall real estate market is experiencing a dynamic period, figures for mortgage loans suggest a potential plateauing of their upward trajectory. June saw a slowdown in this trend, with 1300 mortgage loans recorded, a decrease from the previous month’s figures.
fabián Achával of the Achával real estate agency highlights the strong performance of the market in the first half of the year.He notes, “The dynamics of the first six months of the year show a very dynamic real estate market with genuine demand and also with demand supported by mortgages, and with year-on-year growth that places it in the best figures of the last 18 years.” Achával attributes this surge to the attractiveness of existing properties, which offer a significant price advantage over new or under-construction properties. He further explains, “In historical terms, we are at real prices at 2006 levels, so there is a clear purchase signal; who acquires a property today knows that he will buy cheaper than in a year.”
In the province of Buenos Aires, June recorded 11,706 real estate transactions, according to data from the College of Notaries Buenos Aires. This represents a substantial 33% increase compared to June of the previous year. However, when compared to May, there was a slight decrease of 0.7%, with 11,790 operations completed in May.
The College of Notaries emphasized that the volume of property registrations remains at high levels, reinforcing the positive trend observed throughout the year.
Regarding mortgage credit, there was also a year-on-year increase. In June, 1934 mortgage operations were signed, marking a significant 486% rise from the 330 mortgages registered in the same month of the prior year. Nevertheless, on a month-to-month basis, there was a slight decline of 2.91%, as May saw 1992 operations involving banking financing.
Guillermo Lonchi, president of the College of Notaries of the Province of Buenos Aires, commented on the situation: “In June, we have seen remarkable year-on-year growth, which demonstrates a sustained recovery of the sector. Although there was a slight decline compared to May, the level of activity remains high.” He added, “The significant increase in the volume of mortgages reaffirms the positive impact of credit tools. It is crucial that this trend is maintained and strengthened, as access to financing is essential to continue bolstering the sector.”
