Naaju Breaking News, Live Updates, Latest Headlines, Viral News, Top Stories, Trending Topics, Videos
[ad_1]
written with
June mortgage credit showed a sharp drop for the first time: there were 761 deals out of 4588, which is 52.7% lower than in May and 25% from a year ago, according to the latest report on the evolution of deeds of sale and purchase in the city of Buenos Aires of the Association of Notaries Public
The report states that 4588 acts were executed, which represents a decrease of 11.3% over one year and 22.2% compared to the previous month. Mortgages accounted for 16.6% of the total, down 25% from last year and 52.7% from May.
The total amount of operations was $ 18,613 million – 57.7% higher than in June 2017 and it dropped 7.4% from last month.
The average value of transactions was $ 4,056,946 – it increased by 77.8% per year – and
dollars, was an average of 148,878 – rose 6.9%.
In May, it has already been found that although the number of acts in the city of Buenos Aires has increased from one year to the next, compared to April, the percentage was lower, especially those of credit, which had fallen 26.9% MoM, In line with the rise of the dollar
José Rozados, director of Real Estate Report, badyzed that this trend was predictable if the l 39; we take into account the data of the acts of May, which already perceived
the effects of devaluation. "This data reflects the fact that it is only the beginning of a process in which the growth of mortgage credit that has regularly occurred will be reversed," he said: "C & D Is the first drop from one year to the next in 22 months, it will be higher in July and August, "he said. "In July, the effect of those who started the process during the months preceding the devaluation continued," he said.
He also warned that for the following months, the dynamics of the real estate market will depend on the levels of inflation. dollar price and income level. "What can happen is a combined effect of the wage recomposition, an adjustment of property values and a reduction in the interest rate." To the extent that it does not help, it will be difficult to return to the credit levels of the year. last, "he concluded.
subjects in this note
Did you like this note?
Source link
