Used Homes Increasing in Popularity
The Buenos Aires real estate market has always been dominated by a preference for brand new, squeaky, shiny, new build properties. Buyers in Argentina tend to shy away from used homes preferring to pay higher prices for peace of mind and exclusivity. However, the times they are a changing and now more and more buyers are preferring gems from decades past to new build real estate. Prices and demand are both on the increase.
The Argentine real estate market favours properties that are debuting on the market and they continue to mostly attract buyers who are looking to invest rather than live in the property. New build homes fetch higher prices and are seen as the smart choice for investment. Nowadays, however, the popularity of used homes is increasing as first time buyers and investors are forced to find more economical options. Another factor that attracts buyers to used properties is the quality of the construction and architecture. Despite being a few decades old, many used properties actually boast a better quality of architecture and materials. Used real estate also includes some fittings and finishes that often aren’t thrown in with the purchase of a new build. For example, a used house will come equipped with built in cupboards, kitchen fittings and flooring whereas a brand new apartment will be completely bare.
The neighbourhoods that clearly show this new trend are Palermo, Villa Crespo, Almagro, Parque Centenario, Abasto, Boedo, Chacarita and Colegiales. These are all neighborhoods that experienced a surge in construction from 2004 onwards and 80% of the properties constructed were one or two bedroom apartments. With so few three and four bedroom homes being built, the Buenos Aires real estate market experienced an imbalance that forces families to buy second-hand properties as they tend to have more bedrooms and our designed for their needs. Residents with children looking to buy a home in Palermo, Villa Crespo, Almagro, Parque Centenario, Abasto, Boedo, Chacarita or Colegiales are forced to either look elsewhere or buy a used property, they just aren’t enough new build, family homes.
People are also tending to choose used properties because they give the owner more freedom and independence. Older homes on the Buenos Aires real estate market are characterised as having more space and include luxuries such as terraces, gardens and patios. Plus, used homes don’t come with strings attached like new properties where owners are obliged to pay costly expenses and monthly maintenance.
The Argentine real estate market favours properties that are debuting on the market and they continue to mostly attract buyers who are looking to invest rather than live in the property. New build homes fetch higher prices and are seen as the smart choice for investment. Nowadays, however, the popularity of used homes is increasing as first time buyers and investors are forced to find more economical options. Another factor that attracts buyers to used properties is the quality of the construction and architecture. Despite being a few decades old, many used properties actually boast a better quality of architecture and materials. Used real estate also includes some fittings and finishes that often aren’t thrown in with the purchase of a new build. For example, a used house will come equipped with built in cupboards, kitchen fittings and flooring whereas a brand new apartment will be completely bare.
The neighbourhoods that clearly show this new trend are Palermo, Villa Crespo, Almagro, Parque Centenario, Abasto, Boedo, Chacarita and Colegiales. These are all neighborhoods that experienced a surge in construction from 2004 onwards and 80% of the properties constructed were one or two bedroom apartments. With so few three and four bedroom homes being built, the Buenos Aires real estate market experienced an imbalance that forces families to buy second-hand properties as they tend to have more bedrooms and our designed for their needs. Residents with children looking to buy a home in Palermo, Villa Crespo, Almagro, Parque Centenario, Abasto, Boedo, Chacarita or Colegiales are forced to either look elsewhere or buy a used property, they just aren’t enough new build, family homes.
People are also tending to choose used properties because they give the owner more freedom and independence. Older homes on the Buenos Aires real estate market are characterised as having more space and include luxuries such as terraces, gardens and patios. Plus, used homes don’t come with strings attached like new properties where owners are obliged to pay costly expenses and monthly maintenance.
The scarcity of land in Buenos Aires is also affecting the Buenos Aires real estate market. Another knock on effect includes limiting the locations of new build homes, making used homes in better locations more appealing to buyers than they were before.
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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.
Argentina Real Estate Investing: Property and rent the best option
Real Estate in Buenos Aires for Sale
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.
