The Subte's expansion is shaping the residential & commercial landscape of BA barrios.
Of all the amenities Buenos Aires property buyers look for, one of the most valuable is actually state-owned and underground. The Buenos Aires Subte transports well over 1.5 million passengers a day along six lines, and Micaela Vacca of La Razon says future underground stations are shaping the residential and commercial landscape of the barrios above.
“The opening of new stations not only increases ridership, it also revitalizes different areas of the city,” Vacca writes, “a growing subway network acts as an economic motor, generating greater interest and expanding investment in housing and services.” For proof, just look at the recent appreciation of properties in neighborhoods like Flores and Villa Urquiza, one of our favorite value plays.
Median residential prices in Villa Urquiza rose 10% last year from US$148/SF in 2009 to $163/SF today. In the zone of Urquiza bordered by Roosevelt, Alvarez Thomas, Congreso y Triunvirato, there are 49 new developments under construction, and many of those buildings feature 3 and 4-room apartments meaning developers anticipate more families will move to the subte-enhanced neighborhood.
Flores, meanwhile, has seen an 8% growth in median prices since the Puan and Carabobo stations opened on the A Line. The H Line, which began service in 2007, will see the Corrientes station open later this year, while the future Hosptiales and Parque Patricios stations are helping fuel new development in areas like the BA Tech District.
From demographics to density, incentives to zoning, developers have multiple factors to consider when choosing the perfect location in BA. Based on this market data, maybe a Subte long-range planning map should be their guide. (Full article in Spanish)
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