Real Estate Opportunities
Real estate brokers explain the different reasons that determine the selection of a specific area in Capital Federal. Some people like to be close to Downtown, others wouldn’t dare to leave the neighborhood they spent their childhood in, there are the ones looking for upscale districts surrounded by parks and squares and some buyers choose where to live in accordance with their economic possibilities. So it is not easy to determine which districts the porteños favor the most.
Some Buenos Aires neighborhoods such as Recoleta, Palermo, Barrio Norte in general, Belgrano or San Nicolás maintain their popularity regardless the prices. The demand on other areas depends on the price accessibility. Such is the case regarding Constitución, Monserrat, Once, Floresta, Monte Castro, Vélez Sarsfield, Versalles, Villa Luro and Villa Real. Other neighborhoods that are experiencing growth are Barracas, Chacarita and Parque Patricios. This grow is probably due to the Audiovisual and Technological districts and how the services in general have improved in these areas.
In terms of new constructions, Palermo is getting behind, while the number of new buildings in Flores, Balvanera and Retiro is increasing. The trend in Urquiza, Caballito and Belgrano remains similar to the past few years. From 2007 to 2013 around 10,720,090 square meters have been built in Capital Federal. 83% of them were brand new constructions, while the rest are remodeling works. The constructions located in Palermo, Caballito, Belgrano and Villa Urquiza added an amount equivalent to the remaining 35 neighborhood combined.
Regarding value, the current situation is complicated. The great dilemma: should the prices be fixed in US$ or in Argentine pesos? Does this refer to the quotation or the actual sales value? Recoleta, Barrio Norte, Belgrano, Palermo and San Nicolás are the districts with the largest number of closed transactions. The prices in the area still show a stable trend. Properties in these areas are usually quoted in US$. Units in exclusive avenues such as Alvear, Callao, Libertador and Figueroa Alcorta are quoted around US$ one million. Units with an area measuring 150 square meters are quoted around US$ 400,000 and two bedroom apartments are quoted in US$ 250,000. All in all, the value per square meter ranges from up to US$ 2,000 even though there are rare opportunities in US$ 1,700 and many properties still reach around US$ 3,000 per square meter. This works for both brand new properties and used properties.
In Barracas, Parque Patricios and Chacarita on the other hand, the prices of new brand properties are significantly different than used ones. The square meter of a brand new apartment is worth US$ 1,800, while used apartments are valued in US$ 1,500 per square meter. In Montserrat, Constitución and Once the average price per square meter is US$ 1,611 while in Floresta, Monte Castro, Vélez Sarsfield, Versalles, Villa Luro and Villa Real the price per square meter reaches US$ 1,687. The greater demand is for one bedroom apartments, followed by studio apartments and two bedroom apartments.
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.
