Buenos Aires Real Estate

A recent report released by the Buenos Aires College of Notaries reveals some interesting information about the Buenos Aires real estate market. The results show a general improvement and recovery of the market, which should make investors breathe a sigh of relief, after the lull that was experienced in 2008 and 2009.

In 2010, the sale of houses and apartments increased a massive 20.5% in comparison with sales from last year. This is a considerable increase if you consider that at the end of last year the increase was a mere 4.1%. The amount of deeds signed by Buenos Aires real estate notaries reached 62,278, which shows the Buenos Aires real estate market is improving after having a tough time of it in 2009, when the real estate market slumped by 25.5%. The facts and figures of the Buenos Aires College of Notaries also show that the average price of properties sold in Buenos Aires stands at $ 390,717 Argentine pesos (around $100,000 US dollars). This is a useful number to consider when buying a property in Buenos Aires, although this of course will vary greatly depending on the property type, size and location.

In the year just gone, all of the transactions handled by notaries in Buenos Aires, in relation to the real estate market, added up to a total of $ 2,748,300 million pesos ($ 687,075 when converted to US dollars), a pretty good figure for just one city. It can also be revealed that a much higher percentage of properties were paid for in US dollars, with 29.2% of deeds paid in dollars in 2010, compared with 4.1% in 2009.

The report also tells those interested in the Buenos Aires real estate market that the most commonly sold, and therefore most popular, type of property is apartments with two rooms. So if you’re interested in buying then it’s important to consider that two room properties are extremely popular and a safe bet that is sure to give you a good return. The average price of a property that is this size is around $ 80,000 US dollars.

The Buenos Aires real estate market has been growing recently and this boom has resulted in a rise in prices, hence the 29% increase in the sum of transactions carried out. During 2010, the average price per metre squared in Buenos Aires rose 18%.

Property prices in the capital of Argentina are steadily rising due to improvements in the real estate market, changes to the world economy and the devaluation of the dollar, all of which is boosting the economy and giving notaries and solicitors something to talk about.