The Flight to Safety Continues: Locals and foreign buyers remain bullish on Buenos Aires real estate.
March housing data just released by the BA Notary Institute (BANI) shows continuation of a positive trend that started last December. According to BANI, the number of real estate transactions was up 37% in March 2010 compared to March 2009, while the total value of all sales climbed 57% and the median price per transaction rose 15%.
The breakdown of sales by price level shows demand is strong for smaller units, especially two-room layouts in the more affordable outskirts of Buenos Aires. 56.7% of the units sold were priced below US$65,000, while 26% were priced below US$39,000.
The segment accounting for the largest overall percentage of sales (38.4%) is the US$65,000 to US$230,000 range which encompasses a wide range of housing types and floor plans, many of them popular three and four-room layouts.
With three months of data in the books, BANI says the acceleration of real estate activity in the first quarter of 2010 is worth noting. There were 34% more transactions in the first quarter of 2010 (vs. 1Q09), the total dollar value of all transactions jumped 75% and the median price per transaction rose 33%.
The sector should continue to post strong gains current inflationary pressures, and the flight to safety mindset of those buying real estate, luxury cars and other durable goods today in BA. (Full article in Spanish)
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[...] this month InvestBA reported on the recent gains in the Buenos Aires real estate market: closings up 37%, total value of all sales up 57% and median [...]
[...] recovery that began last December has gained momentum during the course of 2010 as we reported in May. Now the latest statistics from the BA Notary College show a 31.3% gain in real estate transactions [...]