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The Buenos Aires Housing Market shows signs of recovery

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The Buenos Aires housing market recovered slightly during the first half of the year with the number of completed deeds of sale growing by 3.1% as confidence returns ahead of elections later this year, according to a report released by the Chamber of Notaries of the City of Buenos Aires.

According to the data, some 15,448 deeds were signed in the first six months of 2015. The value of these transactions increased by 30.5% from $11.58 billion in 2014 to $ 15.111 billion in 2015.

July’s figures were the highest recorded so far this year rising by 7.4% from June and up by 6.7% compared with the same month in 2014.

The improved tone comes ahead of October’s general elections that will bring the end of the Fernandez de Kirchner administration. Capital controls and a currency devaluation in the first part of 2014 hampered activity over the past year and values had fallen to match lows reached in the aftermath of the economic and social crisis of 2001.

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