In this way, the real estate sector already accumulates 21 consecutive months of falls. “It is a very difficult situation to sustain over time,” they warn.
The real estate market continues to receive the impact of the prolonged economic crisis that affects the country.
The number of deeds of sale made in February in the City of Buenos Aires fell 33.8% compared to the same period of the previous year, and thus accumulated 21 consecutive months of year-on-year falls, the Buenos Aires College of Notaries indicated this Friday. .
The report noted that 1,417 deeds were made for a total amount of $ 9,753 million in the second month of 2020.
He underlined that the average value of transactions was $ 6,883,084, with which he experienced an annual increase of 54.7%.
He clarified that in dollars the figure stood at an average of 108,241, which represents a decrease of 18.6%.
Regarding the number of acts, the survey held that it reached 1,417 and thus had a decrease of 33.8% compared to February 2019 and rose 1.9% compared to the previous month.
Referring to the total amount of operations, the analysis pointed out that it was positioned at $ 9,753 million, showing an increase of 2.3% compared to February of last year, while it dropped 0.4% compared to last month.
The College’s deputy secretary, Ricardo Blanco Lara, evaluated that, with the February results, the sector accumulated 21 consecutive months of year-on-year decline.
“We are on the way to completing two years of low activity, something that is reflected in a situation that is very difficult to sustain over time”, he warned.
Thus, he stated that the first two months ended “with a drop of almost 33 percent compared to the same period in 2019”.
“With these figures, we realize that mortgage credit has completely disappeared,” he pointed out and predicted that “it will be impossible to exceed the 2,700 operations in March of last year, given that this month is going through one of the biggest crises in the economy. and the real estate sector. “
Blanco Lara warned that “the health crisis due to the coronavirus pandemic is added to this.”
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