Last week’s Salon del Mercado Inmobiliario brought thousands of property peddlers, purchasers and prognosticators to Palermo for the annual real estate Expo. Despite rising inflation and the political uncertainty leading up to the 2011 elections, the lingering mistrust of banks and lack of viable investment alternatives bode well for Buenos Aires real estate in the coming year. On the second day of SMI, iProfesional published a Reporte Inmobiliario ranking of BA neighborhoods based on average price per square foot of an existing 2 or 3-room apartment.
Today InvestBA presents that ranking in slideshow format with photos and Google maps. The ranking compares properties in each barrio based on median price per SF in July 2009 and July 2010. It’s interesting to note the strongest double-digit price increases occurred in the most affordable barrios like Villa Urquiza and Saavedra while the two most expensive neighborhoods actually showed YOY price declines.
As mentioned last week, the oversupply of small 1 and 2-room units is leading many developers to the more affordable BA barrios where they can build more spacious 3 and 4-room apartments. New Subte stations, shopping centers and GCBA cultural offerings are making these neighborhoods more attractive destinations for locals and foreign investors alike. (Note: Given the lack of existing 2 & 3-room inventory, Puerto Madero was excluded from the list.)
For more information about real estate investment opportunities in Buenos Aires, download the new issue of InvestBA Privada.
