Real estate sales fall and mortgages fall in the city

The economy shows symptoms of stagnation . The quantity of goods sale of goods in the city of Buenos Aires recorded a low of 1.5% respect to April when April had already registered a drop of 1.6% compared to March. To this it adds that with the dollar run the deeds formalized with the bank mortgage were dropped by 26.9% by report to last month.

As revealed by the monthly report of College of Notaries of the City of Buenos Aires, May there was at least one increase the writings of 15.5% while the total amount of transactions made increased by 76.6% during the same period, was reported on Monday.

According to the study, during the fifth month of 2018 were signed 5,982 records for a total of 20,084 million dollars .

Compared to April of this year is when the alarms are lit: the acts fell by 1.5% in quantity, although they increased by 12.6% in pesos.

In the monthly relationship, for the second consecutive month there were negative indexes: May had a minimum of 1.5% compared to April, and April had already recorded a decrease of from ] 1.6% compared to March

As detailed by the entity, the average amount of deeds was $ 3.408.761 million ($ 1462629, depending on the average official exchange rate). In pesos, this means that it has increased by 52.9% in one year, while in the US dollar, it has only increased by 5.5%.

Another sign of the brake that manifests itself in the sector is highlighted in the acts formalized by ] Mortgage bank which totaled 1,607 cases in May, it is about an accident from 26.9% compared to the previous month. It was the first fall of in more than a year

This situation is directly related to the engagement of the dollar and to the financial crisis that the country crosses.

This scenario, little reflected that it may have 42.7% more acts than those recorded a year earlier. Did the decline of mortgage financing become evident .

First 5 Months
The College of Notaries states that if we compare the first five-month period 2018 growth of 31.8% compared to the same period of 2017: 26,481 acts against 20,097 of May 2017.

In the cumulative of these five months with mortgages, a result of 9,387 acts were observed: growth of One year to the next it was 118.3% (last year the cumulative gave 4,299). But this month, with a dollar close to $ 30, the mortgages seem to have reached their peak and now begin to fall .

Recently, a study of the University Torcuato Di Tella located in City of Buenos Aires as one of the most expensive districts of America Latin for to buy ] property.

The cities with the most expensive average square meter of real estate in the region are Rio de Janeiro, with about $ 3,663; Santiago, Chile, 3,303; Buenos Aires, 3,059 and Montevideo, 3,000.