Real estate sales are soaring across the City of Buenos Aires, increasing by a whopping 43.9 percent in August, compared to last year, according to the Chamber of Notaries of the City of Buenos Aires.
A total of 4,222 deeds were signed in August, involving property worth up to AR$8.6 billion* (US$567 million) which in turn implied a 154.8 percent increase in comparison to August 2015. A total of 613 of the sales were completed with a mortgage.
The August figure also represents an 18.4 percent increase from July, according to the notaries.
Real estate sales broke a three-year losing streak in 2015, when the number of deeds increased 11 percent to 37,392 operations.
Correction: This post initially read AR$8.6 million rather than AR$8.6 billion.