Both real estate departments emphasized this the development on a largely dollarized market stagnated in mid-May. According to the data, this slowdown was evident from the middle of the second quarter, as the prices increased by 5% in January-April and then decreased by 0.3% between May and December 2018.
The impact of devaluation did not affect prices only in comparison with 2017 (in this year the price of real estate increased by 11% from January to December). It also affected the gross profitability of owners, which declined by 2.1 percentage points to 2.88% at the end of the year.
According to Mercado Libre, in the fragmented neighborhood, Puerto Madero, Las Cañitas and Recoleta are the most expensive neighborhoods square meter was 6,415 USD, 3,931 USD and 3,553 USD. Meanwhile, the cheapest square meters of December 2018 were found in the neighborhoods of Villa Lugano ($ 1,368), La Boca (1,828 USD) and Constitución (1,852 USD).
The breakdown is explained by a review of the section of the report stating that the neighborhoods most required to purchase apartments, Caballito, Palermo, Belgrano, Recoleta and Almagro.
In this sense, the Properity says that " driver The sharpest decline in demand for real estate is behind the sharp slowdowngiven the volatility of exchange rates in recent months, "he said Gabriel Gruber, regional director of the city.
With regard to rents, Mercado Libre shows significant growth, but under inflation. Data show an increase in rental prices in pesos by 33% in the year, which is less than the annual inflation of 43.9%.
Regarding prices, 2019 does not show a significant change in speed in real estate, as the combination of the loss of purchasing power in 2018 and parities that are not expected to offset wages in order to meet the inflation rate expected in the year, According to private consultants close to 30%.