The finest properties of the Buenos Aires real estate market

The elite of the Buenos Aires real estate market are the crème de la crème of Argentina and perhaps are some of the finest properties in the world. These elite homes follow their own set of rules and have the highest price tags around.

There are two types of properties that dominate the elite real estate market and they could be classed as old school and new school. The old school properties were constructed during the Golden Epoch of Argentina, in a time of prosperity, when everything European was the height of style. These properties are built of quality materials, built to last, in the style of French mansions and can be mostly found in the Recoleta and Barrio Norte neighborhoods. These palaces do not have ultra-modern facilities, mod cons or garage space but their elegant style still attracts buyers.

The new school properties are the polar opposite of these French-style mansions. New school elite homes are predominantly found in Puerto Madero, Palermo and maybe even Belgrano. Ultramodern high rises contain these gems of luxury living, which are kitted out with every amenity imaginable. These may just be apartments, but they are the height of luxury and are fit for millionaires.

Whatever the differences between the old school and new school properties, they do have one thing in common: the price. Both types of property cost around the $ 2 million dollar mark, which is pretty reasonable considering the standard of real estate that is on offer.

The way that the elite of the luxury Buenos Aires real estate market sells is changing and this sector is not as strong as it has been in the past. Nowadays, properties that would have sold in sixty days are now taking between ninety and one hundred days to sell and the average time for selling a luxury property now stands at around a year. In the elite world of real estate, neither buyers nor sellers are in a rush to close the deal.

One example of luxury property is Buenos Aires is the French chateau in Berazategui, Buenos Aires. Valued at $ 10 million US dollars, this stunning mansion has 3900 m2 of covered space, 400 m2 of terrace space, 10 bedrooms, 6 bathrooms, 15 servant’s quarters and 5 staff bathrooms. It defines the ‘old school’ of luxury property in Buenos Aires.

However, in terms of the meter squared value, Puerto Madero is where you’ll find the most expensive properties. Puerto Madero is the Mecca of modern luxury real estate and where each meter squared can value over $ 7000 US dollars. The high rise towers here have a mixture of modern and traditional services that boost their value.

Buildings that are emblematic of Buenos Aires and appeal more based on their tradition and history compete with the modern skyscrapers of Puerto Madero. The Kavanagh building on San Martin Plaza, Retiro, is one of the most well-known buildings in Argentina. It has an interesting history and attracts the top-end of investors. In this stylish building, the entire fourteenth floor was sold for $ 6 million dollars. The buyer was an English Lord who then set about completing renovating the interior.

The most important thing for investors is, as always, location, location, location. The surrounding area is what defines whether the property is classed as in the elite Buenos Aires real estate or not. These elite neighborhoods include Recoleta, Barrio Norte, Avenida del Libertador, Palermo Chico, and perhaps even Palermo Soho and Hollywood. Other important factors include the view and quality of the finishing. The amenities also define the class of the property and we mustn’t forget other factors that increase the property’s status and therefore value: the name of the architect and the company that constructed the project. Architects that are hallowed in old school properties include Bustillo, Christopherson, Virasoro, Williams, Brunetta o Peña. New school heroes of architecture are Mario Roberto Alvarez, Roberto Aisenson, Bodas and Miani Anger, whose names when credited boost the property’s values significantly.

The method of sale also varies from other sectors of the Buenos Aires real estate market. Elite Buenos Aires real estate vendors cannot simply place an ad in the classified section of the newspaper. Brokers of this class of property have to use social networking, cocktail nights, and send out DVDs and photos of the property to the right kind of people. Having an ‘open house’ is another way to attract attention to the property, with brokers organizing whisky tasting events or art expositions, serving sushi and with a DJ or saxophonist playing in the background. The elite method of selling real estate is as luxurious as the properties that are on sale.

The mix of modern and traditional luxury homes in Argentina means that, however the property is publicized by brokers, they are guaranteed to catch the eye of a millionaire investor out there somewhere.

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