Condominium versus apartment in Buenos Aires
It is a tricky decision choosing between buying a condominium or apartment in Buenos Aires. Both have so much too offer people looking to buy, which is making more and more buyers consider the benefits of each option. Here is the Buenos Aires real estate guide to condominiums and apartments.
In Buenos Aires, condominiums are generally located in suburban areas close to work places and public transport links to the city centre. Condos take up more space and so they are limited to suburban areas like Zona Norte, just on the outskirts of Buenos Aires. They are characterized by being horizontal-type properties that are built around a communal garden, green area or leisure space. They are most popular with younger homeowners aged between 25 and 45 years old.
The green spaces that condos tend to enjoy appeal to families with young children, who sacrifice a more central location in the city for family friendly facilities. Condominiums are the perfect symbiosis of house and apartment. Many condo developers are also looking to create the feel of a gated community in their properties, without being limited to a distant location in the countryside. A condo property offers all the security of living in an apartment, whilst having the comforts of a home. Another benefit with condominiums is that they are cheaper than purchasing an apartment. On average, a meter squared in a condo costs $ 1500, whereas an apartment costs between 2500 and 3000 US dollars per square meter.
Apartments remain the more exclusive option for buyers. Apartments can be found in the most exclusive, and most central, neighborhoods of Buenos Aires city. The facilities that are on offer in properties in high-rise apartment buildings are also of a higher quality. Condo residents will be able to enjoy a garden area and barbeque patio, whereas apartment blocks offer gym facilities, porter service, and swimming pool and garage spaces.
From a real estate developers perspective both condominium or apartment in Buenos Aires are good options. Apartments are more rentable because they appeal to the whole market and are more versatile properties. In comparison, condos appeal to mainly young families. However, condos are a great option for developers in residential areas where high-rise structures are restricted by government city planners.
The choice between condominium or apartment in Buenos Aires buildings is a difficult one that will depend on the individual buyer’s needs and situation as both have their advantages and disadvantages.
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