May confirmed a trend that has been worrying the Buenos Aires real estate market: sales remain firm, but mortgage lending is plummeting. According to data from the College of Notaries of the City of Buenos Aires, 5,435 purchase-sale deeds were signed, just 3.1% less than in the same month of 2025. However, mortgage-backed transactions fell 54.8% year-on-year, the sharpest decline since the return of UVA loans in May 2024.
Mortgages accounted for only 10.8% of total sales, compared to 23.2% the previous year. “We have had five months with more than 37% fewer mortgages than in the same period of 2025. Housing demand exists, but it needs accessible financing to materialize,” said Magdalena Tato, president of the Buenos Aires College of Notaries.
The total amount transacted was $848,932 million, 8.5% more than in May 2025, but the average ticket in dollars fell 7.7% to US$110,080. Meanwhile, the official dollar rose 21% year-on-year, the UVA grew 33%, and the cash-with-settlement rate climbed 25%. In this context, the price of used properties lagged behind, partly explaining the dynamism of sales without credit.
Fabián Achával, of the real estate firm of the same name, stated that “statistically we are almost at the same level as last year, but without mortgages. The main driver remains price, which has lagged behind other assets.” According to the broker, buyers come with their own dollars, savings, or through chain transactions: selling one property and buying another.
Dan Obetko, from Interwin, agreed that “the level of deeds remains healthy, but private banks are not promoting mortgages and rates remain high. The most active are state banks.” The buyer profile is mostly end consumers, with a high percentage of chain transactions.
However, the window of bargain prices has already closed. “Today the concept of opportunity is relative,” Obetko warned. Properties requiring renovation are the hardest hit in negotiations, while well-located and well-maintained ones sustain demand.
For the second half of the year, specialists do not expect a price jump. “They will not rise in the short term, unless accessible and competitive financing appears,” Obetko said.
In the province of Buenos Aires, the situation was more critical. Purchase-sales fell 23% year-on-year (9,068 transactions) and mortgages 54% (910 acts), aggravated by the labor conflict at ARBA that affected operations for three months. Guillermo Longhi, president of the Buenos Aires College of Notaries, called the numbers “a wake-up call.”
The paradox is clear: the market is sustained by price, but without credit, the ceiling is near. The question is how much longer the brick can hold out without a financial push.
Para mí esto huele a la misma joda de siempre. Sin crédito, los precios los ponen los chetos que compran en efectivo, mientras los laburantes ni en pedo acceden. Las hipotecas UVA te descuartizan el sueldo, es un curro de los ricos. ¡Vivienda es un derecho, no un negocio! Fuera el capitalismo.
para mi los chetos lloran x las hipotecas pero los precios no bajan xq los zurdos con sus planes les regalan guita a los vivos argentina no es pa cualquiera si kereis casa labura como la gente no esperes la manito del estado viva la libertad carajo 🤑