A person walks past a currency exchange office in Buenos Aires in 2024. Argentina is a de facto bi-monetary economy, in which, although it has its own currency, the price of the U.S. dollar determines the daily decisions of investors, businesses and families. File Photo by Juan Ignacio Roncoroni/EPA
BUENOS AIRES, Nov. 18 (UPI) -- The revival of mortgage lending in Argentina marks a turning point for the real estate market after years of economic instability and restricted access to financing.
According to the latest report from the portal Reporte Inmobiliario, based on data from the Buenos Aires City Notaries Association, 21% of real estate transactions in September were completed with a mortgage. In Buenos Aires Province, home to 38% of the country's population, the share was 17%.
"The growth is enormous, although the current figure is tiny for any other market," José Rozados, director of the consulting firm, told UPI.
Rozados said access to mortgage credit in Argentina "is the exception, not the rule." During the previous administration (2020-2024), the monthly average of these transactions held at about 3% in both the capital and the province.
