Exactly four years ago, NuWire Investor published an article touting the reasons for investing in Argentina real estate. Today, after 19 consecutive months of declines, it seems real estate sales are beginning to pick up again in Buenos Aires.
The latest monthly report from the Notary College shows that Buenos Aires real estate sales actually rose 6.3% in September, the first monthly increase in BA property closings since January 2012 when slowdown effects of the 2011 currency controls first began to be felt.
According to Ambito and Entorno Inteligente, 3,236 real estate closings took place in Buenos Aires in August valued at $1.882 billion pesos (US$315 million) or $581,477 pesos (US$97,501) per transaction. The September 2013 numbers were only 0.5% less than the September 2012 numbers, the smallest year-over-year decrease posted this year.
The Notary College says 24,684 real estate closings have taken place in Buenos Aires during the first nine months of the year with a combined value of US$2.437 billion. (Full Story in Spanish)
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