We answer this question several times a year based purely on a buyer’s perspective in the new and existing residential markets. Now we take a look at the same question from a builder’s perspective with data released yesterday from Reporte Inmobiliario. The numbers offer a snapshot of the cost of new construction in ten Buenos Aires barrios using an average cost per square foot target that developers need to be hitting in order to justify moving forward with a new building.
The average cost per square foot of new construction in Buenos Aires is $190.20 which takes into account the cost of land, labor, construction materials, sales and marketing of new residential units. Construction costs by neighborhood range from $150 to $258 per square foot, and southern barrios like Boca, Constitucion and Villa Lugano are the most affordable while Belgrano, Palermo and Barrio Norte are the most expensive.
In the above PDF, we offer a barrio-by-barrio snapshot of Buenos Aires construction costs and graph the average costs of building and selling two popular sizes of residential units in Buenos Aires: 450 square feet (a one-room or monoambiente) and 900 square feet (a 3-room apartment). (Full Story in Spanish)
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