Invest in Property Outside Buenos Aires City
While many homeowners buy a pre-existing residence, others prefer to buy their own lot and then build their own, custom home. In addition, suburban style housing and condominiums are also available, offering a variety of services. Those that operate in these markets expect a good upcoming season, with little price hikes.
There are many options when planning to invest in a piece of property outside of the city, such as a piece of land to build on, a lot with a pre-existing house or a condominium. Today, people looking to buy a house typically demand that the proposed operations do not exceed USD 130,000, which is a standard cost for buying one of the aforementioned properties.
Due to a successful first month, most operators are predicting a good upcoming year, as each day brings even more inquiries about properties and developments.
Many people wish to move to a finished house, but don’t find one that suits their needs, and so they end up building their own, or building onto a finished home.
Buying to the west of Capital Federal often proves to be the most frugal way to go. Up until about 30 kilometers out of the city, one can buy a condo with green spaces, a multi-purpose room and a gated community; and from about 60 kilometers out it’s possible to find a nice home on a piece of land. Those who wish to build their own home can do so anywhere from 30 kilometers out.
Approximate prices in this area, even in the most demanded areas of the western zone, still seem to be more economical than in other areas surrounding Capital. For example, a 700 m2 lot of land costs around USD 33,000, and with the remaining USD 97,000 (of the USD 130,000 benchmark), a 140 m2 home can be built, with all the services — about 700 dollars per square foot, total. With that amount of money and square footage, an ample home can be built with many large rooms, an asado area, large windows, a good ventilation and climate control system, and a garage.
Other lots are offered with financing, paying, for example, 30% down, 40% financed and the balance upon registration. Similar homes that are already built can be quite a bit higher, from U$D 155,000 and up.
For USD 130,000, you can buy a decent home with two stories, a living room, guest bathroom, a patio and asado area, and three bedrooms.
Condos can also offer a good value to potential, budget-minded buyers. In Terrazas del Sol, for example, one can find a one-bedroom apartment for USD 43,000. This area is ideal for couples looking for a change of pace, as the area is green and much quieter than busy Capital Federal.
Buying with the 130,000 dollar standard is even possible in places such as Tigre. There you can buy a lot in the Los Alisos neighborhood for anywhere from 78,000 to 120,000 dollars. Other neighborhoods offer lots at slightly higher prices that have views of the water.
Discounts and promotions are not uncommon, either, making these areas even more accessible to potential buyers. Prices in pesos have generally risen a bit recently, but dollar values have tended to remain about the same. For this reason, many are looking for turnkey, fixed-price options, which would cover any future changes. Construction costs have risen about 60% in the last five years, and land values have risen, as well.
There are many options available to those who wish to purchase and/or build in areas around the city, but now may be the time to do so, considering past price hikes.
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BUYER'S GUIDE: If purchasing a property in Argentina for first time, visit our one-stop Buenos Aires Real Estate Buyer's Guide to learn more about the real estate buying process in Buenos Aires.
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