Rosario Real Estate
Looking back over Argentina’s history, one can easily see that the city and the country have never really mixed, each person having their own preference, one or the other. Things, however, seem to be changing, which can be demonstrated by looking at the city of Rosario.
Rosario is city meets country, with each part needing and nurturing the other. Although the city is still lacking in terms of certain services, it is still very much transforming into a modern city, fighting the poverty that plagues some of its population.
The recent housing boom in Rosario has been coming for almost a decade, thanks to the investments of foreign currencies produced by the country. The important crops surrounding this metropolis had their effect on the city and its economy.
A number of communities that are supported by the agricultural industry and are located within the 200 km radius of the city look to Rosario for their business hub, as well as being a good place to send their children to school. Even people in some cities in the province of Buenos Aires choose Rosario over Capital Federal.
Beyond the citizens themselves, using the city for their daily life, another sector has come into play in the real estate boom of Rosario: investors. Not only are investors adding life to the housing sector, but to car dealerships, catering companies and the hotel industry, just to name a few.
This year’s record harvest is expected to continue to help this trend, to excite the investors and developers, and to continue the tendencies that were begun at the end of the last year. Most real estate professionals agree that there are several reasons to expect more investments, including the expected excellent harvest, a historic housing shortage and a market that is quickly bouncing back.
The region is facing a lot of pent-up demand, which was stalled because of uncertainty with the economy. The summer, however, was one of the best in years, showing investors that the money and business is there with its great harvest. Most professionals agree that the economy of Rosario strongly relies on its agriculture, much more so than Cordoba, Buenos Aires or Mendoza. So strong seasons mean strong growth.
The strongest trend in the housing market is the purchase of one- or two-bedroom units, which are often used for the families’ children who come to study in Rosario at universities, or just to rent out and create an income. Some, however, are bought by those seeking a premium home, of which there are plenty.
Urban investments are becoming a bigger and bigger trend, and the economic growth continues to create a healthy environment for investment, or simply for improving their comfort.
General prices tend to be rather stable, but they do have the slight tendency to rise, both in terms of purchase prices and construction. Regardless, most are expecting 2010 to be a good year, as many people are tired of hanging on to their money, and would rather invest. During March and April alone, which was the soy harvest period, there was a notable increase in inquiries about purchasing.
A square meter in a one- or two-bedroom apartment tends to vacillate between USD 1200 and 1800, while the premium sector is closer to USD 2000 to 2800, which includes the more luxurious apartments sitting along Costanera, with a view of the Paraná river. Prices continue to fluctuate all over the city, depending on location, quality and size.
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