Experts claim that the real estate market is experiencing significant recovery, leading to an increase in property prices for sale. As the Rental Law is repealed and with the arrival of a new government, there is positive anticipation in the real estate sector, resulting in a surge in sales and an upward adjustment in prices.
The value per square meter for sale has experienced a sharp increase in larger units in just one month. According to a report by Reporte Inmobiliario, in January there were increases of up to 7.3% in used one, two, three, and four-bedroom apartments compared to December of the previous year.
The recovery of the sales market has also boosted dynamism in the sector. Data from the College of Notaries of Buenos Aires City shows a 7% increase in property sales in December compared to the same period the previous year. Additionally, it recorded the best month of sales in the last five years.
Real estate sector experts indicate that prices have reached their lowest point and now enter a phase of recovery. Although the future is still uncertain, there is a positive expectation that transactions and prices will continue to recover.
In January, the average prices of properties were $2,028 per m2 for studio apartments, $1,876 per m2 for one-bedroom apartments, and $1,719 per m2 for two-bedroom apartments.
This recovery has not occurred uniformly in all neighborhoods. According to the Reporte Inmobiliario report, Palermo and Belgrano are the neighborhoods with the highest prices due to high demand and available inventory. In Palermo, the average price of a two-bedroom apartment is $120,000, while in Belgrano it is $108,500. On the other hand, the more affordable neighborhoods are La Boca, Pompeya, and Constitución, with prices ranging from $49,000 to $55,000.
In summary, the real estate market is undergoing a recovery, leading to an increase in property prices for sale. Although the future is still uncertain, it is expected that this trend will continue in the coming months.