Both real estate divisions pointed out that developments in the mainly dollarized market stagnated in mid-May. In numbers, this slowdown was evident from the middle of the second quarter, with prices up 5% in the January-April period and then falling 0.3% between May and December 2018.
The impact of the devaluation not only affected the pace in terms of prices when compared to 2017 (in that year the price of properties increased 11% from January to December). It also impacted the gross profitability of owners: it fell 2.1 percentage points to 2.88% at the end of the year.
According to the Mercado Libre, in the disaggregated neighborhood, Puerto Madero, Las Cañitas and Recoleta are the most expensive neighborhoods with the square meter valued at US $ 6,415, US $ 3,931 and US $ 3,553, respectively. Meanwhile, the cheapest square meters in December 2018 were found in the districts of Villa Lugano (US $ 1,368), La Boca (US $ 1,828) and Constitución (US $ 1,852).
The distribution is explained by observing the section of the report which indicates that the neighborhoods with the greatest demand for housing were Caballito, Palermo, Belgrano, Recoleta and Almagro, respectively.
In this sense, Properati indicates that "O driver What stands out behind the sharp deceleration is the sharp fall in demand for property, given the instability of the exchange rate in recent months, "he said. Gabriel Gruberregional director of the site.
With regard to rents, the Mercado Libre shows a significant growth, but below inflation. The data indicate an increase in the price of rents in pesos by 33% in the year, below the annual inflation of 43.9%.
In terms of prices, 2019 does not show a significant change in the pace of real estate, with the combination of loss in purchasing power of 2018 and parities that are not expected to reset wages to meet the level of expected inflation for the year, close of 30%, according to private consultants.