Property Investment at Bargain Prices
New opportunities are opening up in neighbourhoods in the South of Buenos Aires city. In areas like Parque Patricios, Boedo, Villa del Parque and Congreso apartments will be available to buy for as little as $1500 US dollars per metre squared. These types of properties will be able to be rented out for a profitable $2000 pesos per month, making it a safe and attractive investment opportunity. The Buenos Aires real estate market is changing and unfortunately there are fewer opportunities than before. Investors and buyers now have to dig around a little deeper to uncover the gems of the real estate market and they are looking in new neighbourhoods that had previously been forgotten.
The cheapest properties on the Buenos Aires real estate market are used properties in neighbourhoods like Almagro, ParqueP atricios, Boedo, Villa del Parque and Congreso. Before, these areas were virtually unthinkable as locations to purchase ‘buy-to-rent’ properties. However, as scarcity and prices of properties rise in more popular and central areas things are changing: investors are looking to the edges of the city. In the outskirts that investors can pick up a property for around $ 1,500 USD per metre squared and still be able to rent it out at a good rate. This type of real estate investment offers the buyer stability, an income and value for money.
Buenos Aires is an ever-growing city so it’s only natural that the suburbs should begin to be included in the real estate boom experienced in Palermo, Belgrano, Abasto and San Telmo. Experts have also started to notice the potential in certain areas that were previously industrial and considered ‘off the map.’ One area in particular is along the 9 de Julio motorway corridor heading south from Corrientes Avenue. This zone runs along San Telmo and Barracas neighbourhoods. The nearby construction and expansion of Catalinas and Puerto Madero had rendered this area undevelopable yet today there are many office blocks, apartment buildings and hotels popping up.
Barracas is a good contender for investment as it offers property and terrain at reasonable prices. Plus, this area is already being considered as an acceptable place for foreigners to rent, which is always a sign of an up and coming neighbourhood. Here many old properties are being renovated and recycled keeping the area’s charming, neighbourhood feel. Both offices and homes are being constructed here. Other areas, even further away from Buenos Aires city centre, such as Pilar and Luján, are becoming investment opportunities as more and more tourists see this area as a good option to stay or rent. These satellite towns in the Argentine countryside offer tranquillity and yet are close to the city. The Buenos Aires real estate market is constantly changing and opening up new opportunities. The trick is to know where to place your bets.
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