Real estate activity in Argentina maintained a steady pace in the first quarter of 2011 with sales rising 16% according to a Telam article over the weekend. The rise was partially due to continued strength in Argentine agricultural exports, and the popular trend of farmers converting soydollars to bricks.
While 16% was the number cited, the Argentina Real Estate Chamber is estimating a slightly broader range until all books are closed. “The first quarter saw very satisfactory numbers. If we compare the level of activity this period with the same quarter of 2010, we registered an increase somewhere between 15 and 20%,” Chamber president Nestor Walenten told Telam.
“Good international grain prices and healthy crop yields spilled over into Argentina real estate and other sectors like appliances, automobiles and agricultural machinery,” said Walenten adding, “The market is also moving forward thanks to the typical Dona Rosa who, when faced with inflation, guards her savings by purchasing real estate.”
The Chamber president says small apartments (1, 2 and 3 rooms) are the most in-demand segment, while 95% of all purchases remain all-cash transactions. (Full Story in Spanish)
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