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Buenos Aires Home Sales Cool in August as Credit Tightening Clouds Outlook

The strongest August since 2007 now gives way to uncertainty over a weakening supply of mortgages.

Overview

  • In the City of Buenos Aires, 6,370 property deeds were registered in August, up 20.2% year over year but down 4.2% from July.
  • The total value of August transactions in CABA reached $1,048,201 million, with an average operation of about USD 114,840 at the official rate.
  • Mortgage-backed deeds in CABA totaled 1,338 for the month and 9,341 so far this year, marking a sharp annual increase even as lending conditions tighten.
  • In the Province of Buenos Aires, 12,964 deeds were recorded in August, a 23% annual rise but a 3% monthly dip, with 2,287 mortgages logged (+206% year over year and +5% versus July).
  • Sector leaders warn that rising borrowing costs and stricter bank underwriting have started to curb new approvals, with a 45–60 day lag likely to show a slower September.