Buenos Aires Real Estate Closings Down 45% In June

Real estate closings in the City of Buenos Aires were down 45% in June compared to one year ago, as currency controls and election year uncertainty continue to put a damper on local sales activity. While the total number of residential closings dropped 44.7%, the total peso-denominated value of those deals was down 37.2%, according to the Buenos Aires Notary …

“Revenge Of The Tow Trucks” Now Playing In Puerto Madero

Revenge Of The Tow Trucks…It sounds like a summer blockbuster, but it’s actually a winter preview of life when tow trucks and progressive parking meters will blanket 10,000 blocks of Buenos Aires. The sneak preview is playing out on the sterile streets of Puerto Madero where tow trucks are hauling off illegally parked cars left and right. According to La …

Buenos Aires Temporary Rental Prices Down 15% This Year

A new survey of apartment rental prices in seven Buenos Aires neighborhoods sheds some light on overall supply and demand in the temporary rental market popular with many expats and tourists. The Reporte Inmobiliario analysis of 1,636 temporary apartment rentals in Barrio Norte, Belgrano, Centro, Palermo, Puerto Madero, Recoleta and San Telmo found that the overallaverage price in dollars for …

CEDIN Watch: Plan Only Attracts $11 Million In First Month

$11 million down and only US$3,989,000,000 to go! When the CEDIN launched July 1, some market analysts were predicting the dollar-whitening program could attract US$4 billion of new investment to shore-up Central Bank reserves and kick-start the country’s real estate and construction sectors back into high gear. Now one month after the program’s launch, we learn that only US$11 million …

Buenos Aires Burning: 4-Alarm Fire Engulfs Downtown Park

A massive fire in the City of Buenos Aires lit up the skies over Puerto Madero and Microcentro last night, and six fire station units were needed to get the blaze under control. The fire broke out in the Costanera Sur Ecological Reserve east of Puerto Madero around 8:00 p.m. last night and quickly engulfed an area the size of …