The demand to purchase real estate in the City of Buenos Aires has experienced a significant increase, according to a report based on data from Zonaprop. Since the beginning of the year, interest has grown by 99%, and compared to September 2023, the increase reached 51%. This growth is attributed to the reactivation of mortgage credits and the legalization of capital, factors that have boosted the real estate sector.
The report highlights that in September 2024, the total number of sale deeds increased by 30.4% compared to the same period the previous year. Specifically, the volume of deeds formalized with mortgages experienced an increase of 317.2% compared to the previous year, accumulating a rise of 74.3% just in 2024.
According to the study, Palermo is the neighborhood with the highest demand in the City, representing 15% of the searches, with an average price of 3,205 dollars per square meter. It is followed by Belgrano, Caballito, Recoleta, and Villa Urquiza in terms of inquiries and average prices per square meter. On the other hand, Barracas, San Cristóbal, and Flores have the lowest number of searches and the lowest prices.
The Zonaprop report indicates that throughout 2024, there has been a sustained interest in the search for properties, with significant monthly increases, especially during the months of March, April, and May that coincide with the reactivation of mortgage credits. Despite a temporary drop in the middle of the year, demand has remained stable, showing a recovery between July and September, with interest levels higher than the previous year, indicating active demand despite the observed variations.
