Good news for the real estate sector. During February 2025, 7,952 sale were registered in the province of Buenos Aires, according to data from the College of Notaries of that district, a figure that represented an interannual increase of 73.1% compared to 4,593 operations specified in the same month of 2024.
In turn, compared to January 2025, transactions increased by 38.32% compared to 5,749 recorded in that month. On the other hand, the amounts also grew by 39%.
The same phenomenon is observed in CABA. According to statistics from the College of Notaries of the City of Buenos Aires, last January more than 3,600 deeds were carried out, a number greater than the one registered in the same month of 2024, when 1,800 operations had been formalized. Another relevant aspect was the number of deeds formalized with mortgage: there were more than 900.
The resurgence of the mortgage credit seems to have impulsed the item. This has a direct impact on the square meter values. According to a property price survey, it is the result of a joint work between the University of San Andrés and Mercado Libre (of the market in AMBA), in CABA, North GBA, South and West are registered intermensual variations in the sale price per m2 in dollars of departments of 1%; 0.3%; 0.8% and 0.3%, respectively. “Comparing the evolution of dollars per meter (stock) in a month compared to the mobile medium price of the total notices of the last 6 months, we can identify ‘hot’ (rising prices), ‘cold’ (downward values) or neutral areas. This analysis is important because it allows us to draw conclusions about the expected future evolution of these markets,” says the report.
For Agustín Celia, Director of LendarDuring the first quarter of 2024 there was an important change in the market trend, basically product of two themes. “First, the decrease in the real exchange rate and, therefore, the increase in the purchasing power of most people. Second, as is known, the announcement and subsequent implementation of mortgage loans. Those factors in a combined way, together with the perspective that the real estate market begins to move a little faster, made the market rotation out during the last year of the last year of 2%, approximately 2% 5% and 7% in the last four -month period of the year, ”he emphasizes.
Differences. In this way, in March 2025, the house market has been on the rise in South and West GBA since March 2025, while it has been down in CABA and GBA North since March 2025 and August 2024, respectively. For its part, the departments segment shows a rise in CABA, GBA Norte, GBA Sur and GBA West since August 2023, March 2025, May 2024, and January 2025, respectively.
“A fact to highlight is the increase in demand (measured through contacts). In this regard, the departments for sale in CABA record a 34.8% increase between February 2025 and the same month of 2024. This would be explained by a combination of factors, among which are the greatest dynamism of the sector in recent times, to which the reactivation of mortgage loans of recent months are added.add the study.
In this context, operators do not cease to highlight the change in trend. “We are optimistic about the market prospects by 2025 and the following years. Although we also believe that there are challenges that developers must monitor carefully and establish an action plan to manage them ”, holds Juan Manuel Tapioladirector of Spazios. The broker recalls that, in the previous years, the demand was “weak, and very concentrated in ‘high-end’ and investor segments, because the middle-class family did not have savings or mortgage loans. And, simultaneously, the construction costs measured in dollars were in figures below the current M2 values will touch almost historical floors since 2021 ”. But, as of mid -2023 and 2024, the increase in the Metro’s dollars generated challenges for the developers, who “set prices looking at costs of another era,” explains Tapiola.
Context. On the demand side, the appearance of mortgage credit, intermediate loans for developers, the decrease in inflation and interest rates, an incipient recovery of salaries in dollars, and the reactivation of the economy, marked a hopeful path for demand. “Clearly the financing alternatives that are most being sought or that more demand are today are grape mortgages. Let’s say, it is the only thing that today gives the employee possibility, which has a dependency relationship salary and that does not have many savings, to be able to access their first home. However, that, they are also using many in the form of investment because they believe it is a good time to get a loan”, He indicates Lucas KetlunAdd investment manager.
From your vision, if there is a demand that is upwards for the existence of mortgage loans and a stabilization of the macro, “they are easier in what is used departments the meeting point between vendors and buyers,” he details, but puts the magnifying glass in the cost of construction: “It is quite high and starts to collide that, what value can a new department end what value can be purchased at a useful department. To take time and that will determine where the market will go, I do not know if in 2025 but if not more for 2026. ”
But the perspectives could break with the malefice of almost seven years. “We understand that what is left of 2025 is going to be a market with prices progressively increasing in a gradual way, where mortgage loans are going to be stable. Today it seems that they form between 15 and 20 percent of the total of AMBA operations and you have to wait to see what happens when the stock is effectively attached to see how far the prices go up and based on that to see what is the new point of equilibrium to which the market reaches the market. In this scenario, the brick is in sight again.
By Marcelo Alfano
