Without credit, the sale of goods in the capital falls by 40% – 27/11/2018

As mortgage credit is virtually paralyzed, the sale of properties continues in free fall in the city of Buenos Aires. In October, 3,669 buy-sell transactions were signed, a decrease of 40.7% in the same month of last year. Operations totaled $ 17,728 million, or 18.5% more, according to data from the Association of Notaries Public.

Compared to September 2018, acts increased by 3.5% in quantity and 3.2% in pesos.

The average transaction amount was $ 126,920 ($ 4,831,863), based on the average official exchange rate: it dropped 6.6% in dollars and it rose 100.8% in one year in pesos.

The triggered rate and the dollar caused the sale of real estate with deed will rise from 31.5% of last year's total to only 9.7% this year. In October, only 355 mortgages were signed, 81.7% less than those recorded a year earlier. In just 6 months, almost 85% of credit transactions have fallen.

How does the year come

During the first 10 months of the year, the fall of operations it is reduced to 3.2% compared to the same period of 2017: 47 255 acts against the 48 809 of the past. This is because the first quarter of this year had begun with a 37% increase over the same period in 2017.

In terms of sales with mortgages, the increase is 4.1%: the first 5 months of 2018 were positive and the last 5 records showed a negative balance compared to last year.