Time of change in the Argentina real estate developments

For some time now, Avenida del Libertador, from Avenida General Paz to beyond La Lucia, has been seeing some notable changes. The changes have come about both because of the privileged location in terms of transportation and connectivity, and because its particular environment, where green areas interact with the river, all in the midst of a residential zone. The area has become appealing not just for investors, but also for end users, who are looking for tranquility and a wide range of services.

New businesses, together with the highway, the development in Olivos and the works that Vicente López is working on all promise to change the face of this zone even further. Currently, there are over 15 premium residential and commercial projects in development in this area, some with river views, and others around Avenida del Libertador. More than anything, more shopping centers, auditoriums and corporate buildings are being constructed, and the investment here comes to several million dollars.

The highway through Vicente López was conducive to urban development of the area, promising to make it similar to the Palermo neighborhood, with rising values. The new projects offer large units, such as one-bedrooms with 85 m2, or two-bedrooms with over 100 m2. These sorts of apartments meet the demand of affluent, young buyers, who have been looking for large, high-quality apartments. The works in progress are adding to the standard amenities, offering counter-current pools, football fields and tennis courts, car washes, massage rooms and kids centers, among others.

Another of the projects that is being launched is called Al Río, and is just steps away from Av. General Paz and Av. del Libertador. 350 million dollars have been invested in this megabusiness, which will have three residential towers, a commercial center, an auditorium, maybe a hotel, and 16 hectares of office buildings, 8 of which will have views of the river, all with a coastal park. It is a concept similar to what happens in Miami — an isolated community with everything that the residents need right there, with cinemas, daycare centers, and gyms. Units range from 80 to 320 m2, and will sell for between US$2600 and 4000.

But Olivos and Vicente López aren’t the only places seeing changes, things are happening in Florida, as well, including numerous residential options for every type of buyer. Traditional streets, such as San Martín, Vergara, Rawson and Anchorena are seeing new, modern constructions with quality design.

Florida Palace, for example, is being built to meet an unsatisfied residential demand. This project seeks to marry the best of the classic and modern amenities. With units between 80 and 225 m2, about 70% of them are already sold, with prices around US$2000 per m2. A sister project, Florida Apartments, will have 48 units of 1-, 2-, and 3-bedrooms, ranging from 50 to 144 m2, with an average price of US$1850. Another new project is taking place on San Martín 1850, which has 40 units of between 40 and 165 m2; the units will sell at around US$1650 per m2. This particular project has a mini-cinema and a lounge/bar.

Generally, buyers tend to be young couples or investors who use the properties as a form of investment and capitalization. There are several different projects of different magnitudes and ends, meaning there is also a little something for every type of buyer. In any case, the face of these zones north of the city proper are certainly changing.

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