Zona Norte Buenos Aires best bet for property buyers
The world over, investing in property is a tried and tested way to save for the future, invest money and have a place to call home. In Argentina, storing savings in bank accounts is uncommon and for Argentines the property market is the principal way that people save for the future. For the few Argentines that can afford to invest in real estate, it always used to be a simple process choosing where to locate: anywhere within the city boundaries of Buenos Aires was generally a safe bet that would be a sound investment. Things are different now however, as prices and availability in Buenos Aires real estate has made investors think twice about where to buy.
In the capital of Argentina prices are now reaching a massive $ 1000 US dollars per square metre on average. Buying a property at this price would be ill-advised, but luckily Buenos Aires real estate has an alternative option.
Zona Norte is the place to buy property right now. This area sits just outside the Buenos Aires city, in the province of Buenos Aires. The journey time to the city centre is under an hour and Zona Norte is blessed with easy access routes and transport links to the big smoke.
The main urban areas in Zona Norte include Vicente Lopez, Tigre, Martínez and San Isidro. In these towns, prices are much more reasonable and even the most competitive prices are low. Another plus about buying in these areas is that they are already well-developed urban centres that have the same city feel as Buenos Aires. The properties on offer here include apartments and houses so you wouldn’t have to completely change your lifestyle, unlike, for example, if you moved into a gated community. The Zona Norte neighbourhoods offer residents good quality of life in a middle class area that is affordable and value for money.
Buyers would be advised to invest in property here as the prices are more logical. Many tiny one bedroom and studio apartments are on offer in areas like Palermo and Belgrano. These neighbourhoods have become saturated in recent years, which, in turn, has pushed prices up and forced people to settle for less. These properties are good for those looking to rent the property out afterwards, but if you’re looking to settle down and start a life in Argentina then you’d be much better off in Zona Norte. You can get a four bedroom apartment in Zona Norte for the same price as a one or two bedroom property in Buenos Aires.
There are some areas of Buenos Aires that have recently offered investors more reasonable prices as they were zones that were previously undiscovered by Buenos Aires real estate investors. These neighbourhoods include Paternal, Chacarita and Parque Chacabuco. However, real estate experts are warning that prices in these areas are also following the trend and becoming exaggerated and unadvisable places to invest.
Buying property is a serious decision that is further complicated by the pitfalls and price rises of real estate in Buenos Aires. To make it easy on yourself we recommend you buy in Zona Norte.
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