Building in Buenos Aires
The number of new construction sites is increasing and tends to concentrate in certain popular neighbourhoods. By looking at the trends we can analyse the development of the Buenos Aires real estate market in the last 10 years. The face of Buenos Aires has changed dramatically in the last decade. Since the 2001 economic crisis that rocked the real estate market, Buenos Aires has experienced a boom in property development. The last ten years has seen a steady rise in the number of apartment blocks and new neighbourhoods have become popular.
Palermo encapsulates what has occurred in Buenos Aires real estate since this boom. The traditional and more central zones of Buenos Aires were always good investments for developers in the past. However, since the 2001 crisis Palermo has been transformed from an unappealing and rundown neighbourhood into the most fashionable and attractive place to invest. It is the Palermo neighbourhood that has seen the highest level of development in Buenos Aires. In 2011, it had the highest number of metres squared under constructed. Other neighbourhoods with high numbers of construction works in progress are Belgrano, Villa Urquiza and Caballito.
It is interesting to note that the Southern neighborhoods of Buenos Aires still hold the lowest demand for new constructions of real estate. This area has been the focus of government initiatives, tax breaks and credit schemes in the last year and yet it still underperforms. Parque Patricios neighbourhood in the South of the city is the site of the new technology district that was supposed to attract new real estate projects. Nonetheless, only 25.000 m2 of property have been registered for planning permission according to the Buenos Aires real estate official records. This number is ten times lower than the number of metres squared being built in Palermo.
Another trend seen at the moment in the Buenos Aires real estate scene is the concentration of small units in the most popular areas. This means that the smallest properties are being squeezed into already densely populated areas of the Argentine capital. Less than 5% of all properties being developed in the sought-after areas of Buenos Aires have more than two-bedrooms, revealing the trend for one and two bedroom properties. To give an overview of new constructions in Buenos Aires; during 2011, 2,562,811 m2 of new properties were registered for construction. This figure shows a massive increase of 97.69% in the number of new properties when compared with the results from 2010 when a mere 1,296,353 m2 were registered.
The results are impressive and show that despite the global financial crisis the Buenos Aires real estate and construction market are booming. Nevertheless, this growth is sadly limited to the already booming areas of Palermo, Belgrano and Caballito.
Go back to Argentina Real Estate News:
Argentina Real Estate Trusts - Investments in Construction at Cost in Argentina
Small Apartment units in Buenos Aires attract Real Estate Investors
BUENOS AIRES HABITAT a pioneer of the extended stay hotel-style apartment concept in Buenos Aires. Offers luxurious furnished apartments in Buenos Aires for temporary rent as an alternative to high-class hotels. Whether your visit is for a few days or a few months, for vacation or business trip, we will make your Buenos Aires experience memorable. All of our Buenos Aires apartments offer high-speed internet access, cable TV and housekeeping service.
Palermo encapsulates what has occurred in Buenos Aires real estate since this boom. The traditional and more central zones of Buenos Aires were always good investments for developers in the past. However, since the 2001 crisis Palermo has been transformed from an unappealing and rundown neighbourhood into the most fashionable and attractive place to invest. It is the Palermo neighbourhood that has seen the highest level of development in Buenos Aires. In 2011, it had the highest number of metres squared under constructed. Other neighbourhoods with high numbers of construction works in progress are Belgrano, Villa Urquiza and Caballito.
It is interesting to note that the Southern neighborhoods of Buenos Aires still hold the lowest demand for new constructions of real estate. This area has been the focus of government initiatives, tax breaks and credit schemes in the last year and yet it still underperforms. Parque Patricios neighbourhood in the South of the city is the site of the new technology district that was supposed to attract new real estate projects. Nonetheless, only 25.000 m2 of property have been registered for planning permission according to the Buenos Aires real estate official records. This number is ten times lower than the number of metres squared being built in Palermo.
Another trend seen at the moment in the Buenos Aires real estate scene is the concentration of small units in the most popular areas. This means that the smallest properties are being squeezed into already densely populated areas of the Argentine capital. Less than 5% of all properties being developed in the sought-after areas of Buenos Aires have more than two-bedrooms, revealing the trend for one and two bedroom properties. To give an overview of new constructions in Buenos Aires; during 2011, 2,562,811 m2 of new properties were registered for construction. This figure shows a massive increase of 97.69% in the number of new properties when compared with the results from 2010 when a mere 1,296,353 m2 were registered.
The results are impressive and show that despite the global financial crisis the Buenos Aires real estate and construction market are booming. Nevertheless, this growth is sadly limited to the already booming areas of Palermo, Belgrano and Caballito.
Go back to Argentina Real Estate News:
Argentina Real Estate Trusts - Investments in Construction at Cost in Argentina
Small Apartment units in Buenos Aires attract Real Estate Investors
BUENOS AIRES HABITAT a pioneer of the extended stay hotel-style apartment concept in Buenos Aires. Offers luxurious furnished apartments in Buenos Aires for temporary rent as an alternative to high-class hotels. Whether your visit is for a few days or a few months, for vacation or business trip, we will make your Buenos Aires experience memorable. All of our Buenos Aires apartments offer high-speed internet access, cable TV and housekeeping service.
