Wathemala is located at Guatemala 6090.

This 3/2 BA residence with 1,800 square feet and a private garden is on the market for $269,000.

While most of the analysis and data in our Real Estate section centers on apartments and condominiums, La Nación reminds us of the often overlooked values lurking in neighborhoods throughout Buenos Aires: homes. Patient and discriminating househunters can often find attractive, reasonably-priced homes scattered in and around the multiple new construction mid-rises in BA. When considering the purchase of an existing home in BA, zoning is often the top consideration, because porteño homeowners don’t want to be sandwiched between high-rises. For that reason, areas like Almagro, Villa Crespo and Barrio Inglés where high-rise construction is prohibited are gaining in popularity, as are house-centric barrios like Villa Pueyrredón and Villa Urquiza which InvestBA profiled earlier this year. In these neighborhoods, one can buy a quality three-bedroom home with a garage and garden for around US$200,000 to $250,000. La Nación says cost per square foot is one of the most attractive metrics for those considering a BA home purchase, while other advantages include the option of building additions, private spaces like terraces and gardens with outdoor grilling areas and no HOA fees for common expenses and building maintenance. Given the high demand and relatively low inventory level of existing homes in BA, building a new home is often a good alternative, but lot prices in a given neighborhood are the key factor in the build vs. buy analysis. To read the full article in Spanish click here, and to learn more about investment opportunities in Buenos Aires, download the July 2010 edition of InvestBA Privada.

Who needs a boom? "Estabilidad" suits builders and buyers in the Buenos Aires real estate market just fine.

Recent headlines regarding Buenos Aires real estate sales activity have been improving steadily this year, and La Nación says builders are starting to feel equally optimistic. During the first five months of 2010, the construction industry posted a 10% increase in new projects under development, while the sale of condominiums and single-family homes advanced 7.1%, according to the Universidad Argentina de la Empresa (UADE). The UADE’s prestigious Economics Institute compiled the data and forecast “stability” across-the-board for real estate sales, median prices and inventory of rental units. The analysis of all construction segments found the largest January-May increases in three sectors: oil and gas construction (+41%), road construction (+10.4%), and housing construction (+9%). The UADE study offers a detailed analysis of the local real estate market where new housing inventory grew 7.1% in Capital Federal and Greater Buenos Aires. The rise in inventory was accompanied by an increase in median prices, especially in the Northern Corridor of Buenos Aires, where new condominium prices gained 9.7% in U.S. dollars compared to the same five-month period in 2009. Median prices of existing inventory in BA posted a 9.3% gain. The greatest increase took place in the Recoleta neighborhood where the average price per square meter for new construction units rose 11.2%. Other BA barrios popular with foreign buyers posted more modest annual price increases including Palermo (+1.5%), Belgrano (+1.2%) and Núñez (+1.2%).  For more information about Buenos Aires real estate opportunities, search our archives and download the July 2010 issue of InvestBA Privada. (Full Story in Spanish).

Dame Dos: BA's Villa Crespo has quickly become the epicenter of outlet shopping in Argentina.

It used to be that Argentines had to travel roughly 4,500 miles to South Florida or Orlando’s International Drive to indulge in deep discount retail therapy, but it seems the outlet concept has caught on fire in one BA neighborhood. Villa Crespo has long been known as a solid, middle-class residential neighborhood, but the 2001 financial crisis left this BA barrio with several abandoned warehouses and residences. Today, according to Clarín, many of those buildings are being bought for upwards of US$500,000 and converted into the BA equivalent of Sawgrass Mills. The phenomenon began five years ago when several large BA clothing stores started opening their first outlets around Gurruchaga and Aguirre. Today there are over 60 outlets in a four-block zone and close to 100 in a 10-block region. The retail pioneers like Hunor Gobos closed their stores on Avenida Florida five years ago, opened the first VC stores and have watched sales and shoppers grow every year since. Clarín says the Boom de los Outlets has really exploded over the last ten months, and the area is teeming with bargain-seeking tourists, especially Brazilians, Chileans and Uruguayans. Daniel Chain of the Buenos Aires Department of Urban Development says prices in Villa Crespo are still lower than Palermo but says they will continue rising, as Villa Crespo will be one of the prime beneficiaries of GCBA’s new infrastructure to control flooding. As for the name of the new retail zone, some refer to it as Palermo Queens, while others call it Villa Crespo Nuevo. Personally, we like the sound of Porteño Mills. (Full article in Spanish)

This week's Tramando Nights showcased BA designer Martin Churba's designs for the masses.

On July 12 and 13, renowned Argentine designer Martin Churba hosted Tramando Nights, a sample sale of sorts sponsored by L’Oreal and Chandon, in his gorgeous Recoleta showroom.  Guests sipped champagne, received complimentary makeovers, and tried on deeply discounted pieces from past Tramando collections. Churba, who considers himself a textile designer above all, creates pieces that are completely unique yet manage to retain an undeniably edgy elegance. More than simple garments, his designs are true avant garde works of art. The quality workmanship of each piece is evident in the intricately woven rubber material that the designer utilizes in the creation of his collections. The result is structured clothing that is eye-catching but still flattering, highlighting the wearer’s best features and making her truly stand out in a crowd. Which is what every woman wants, isn’t it?

Tramando, located at Rodriguez Peña 1973, celebrate’s its 7th anniversary this August. Look for more on the designer in our September issue of InvestBA Privada and be sure to follow VanityBA on Twitter.

The Belgrano Cargas line connects BA with 13 of Argentina's richest commodity-producing provinces.

With close to 30,000 miles of functioning tracks, Argentina’s rail network was one of the world’s most extensive and profitable by the middle of the last century, but you wouldn’t know it by visiting the country today. Sixty years of neglect have left the once robust freight and passenger railroads a rusting shell of their former selves. For example the train connecting Buenos Aires and Córdoba was suspended in 1993, reinstated in 2005, but today the tracks are so dilapidated the 385-mile trip can take as long as two days. The most recent glimmer of hope for a rail renaissance was the 2008 announcement of a Bullet Train (Tren Bala) connecting Buenos Aires and Córdoba, but there has been no progress on that front for two years. Now it seems an Argentina rail renaissance may actually begin with backing and financial support from the world’s largest importer of just about everything: China. No stranger to infrastructure development projects in Africa and the Americas to expedite the flow of commodities she craves, China has committed to work on Argentina rail projects valued at roughly $12 billion. According to Bloomberg, the rail upgrades will take place on the The Belgrano Cargas line, a freight network connecting BA with 13 provinces, and the Ferrocarril Belgrano. Future Chinese-backed infrastructure enhancements in Argentina may also include a $1.8-billion subway system for Córdoba and a rail line extension connecting BA with Ezeiza International Airport.

Back from the depths of 2009, BA's real estate sector posted a 41% gain in transactions in May.

A story we’ve monitored closely since the end of last year is the recovery of the BA real estate sector. After an abysmal 2009, December finally offered a positive note; a trend that continued during the first four months of this year. Now the newly-released housing data for May suggest BA’s property rebound is in full swing. According to the  BA Notary Association, the sale of properties jumped 41% in May compared to a year ago, while the value of all real estate transactions rose 91%. Cronista says the second statistic reflects the large number of buyers taking delivery of high-end units that have been under construction for the last 2-3 years. The 5,165 real estate transactions in May were valued at 1.908 billion pesos argentinos or US$484.82 million. While local analysts say signs of a recovery abound, it’s worth remembering the year-over-year basis of comparison: the first six months of 2009 was one of the worst periods for BA real estate. As the global financial crisis gathered steam, confidence was shattered and buyers were scarce in the Southern Cone. Now a year later, a rare global commodity has returned to Argentina and Uruguay: optimism. The May housing numbers show units priced between US$60,000 and US$220,000 accounted for 38% of all sales, while units priced below $60,000 represented 56% of all transactions. The sale of units priced above US$220,000 doubled from 3% last May to 6% in May 2010. (Full Story in Spanish) For more information about Buenos Aires real estate trends, see our archives or download the July issue of InvestBA Privada.

Regions like San Rafael offer foreign investors a region reminiscent of Sonoma County in the 1970s.

Politicians are a bit like chess players in the way they are constantly plotting their next moves: pushing new agendas, pursuing re-election or seeking higher office. But for one Alaska politician, the next move was as original as it was unexpected. Wasilla City Council member Nancy Hall announced she will step down from her post and move with her husband to run a vineyard in San Rafael, Argentina. Hall and her husband, Gary, traveled to Chile looking for vineyard opportunities in 2009. She returned to work in Alaska but Gary began to focus on Argentina vineyards after visiting their son in Buenos Aires. A few days later Nancy says, “I got this phone call that said, ‘Honey, I bought a vineyard.’“ The couple told the Anchorage Daily News that San Rafael reminds them of California’s Sonoma County in the 1970s before it exploded. Their newly-acquired vineyard, Shadow of the Andes, grows the increasingly-popular Bonarda grapes, but Hall is quick to clarify their role in the overall Argentine wine supply chain: “We grow the grapes, we don’t make the wine.” The couple plans to keep their Wasilla home and divide time between Alaska and Argentina enjoying what the ADN calls “a life of perpetual summer spanning the two hemispheres.” For more information about Argentina vineyards, visit our archives and for a list of vineyards for sale, download the July edition of InvestBA Privada.

Local officials anticipate another record year of residential construction in Maldonado, Uruguay

The Uruguayan coastal state of Maldonado—home to popular beach side destinations like Punta del Este and José Ignacio—is poised for another record year of new residential development, according to state development and tourism officials. In an interview with El País, the Director of City Tourism for Maldonado Horacio Díaz says in January and February, developers submitted approval requests for 170,000 m² of new residential construction. At the current rate, Maldonado forecasts 400,000 m² of new projects will be submitted for approval by year-end 2010. If that forecast is valid, the increase in new construction requests would exceed 2009 by 14.2%. In 2009, developers submitted approval request for 350,000 m² of new construction, of which Maldonado approved 290,000 m² or 83%. Contrary to popular belief, most of the new construction requests in 2009 were for single-family homes (63%) vs. multi-unit dwellings (37%), of which only 10-12% were high-rise condominiums. In the same article, El País points to the report we shared last month regarding the dynamic nature of the Maldonado real estate market vis-a-vis Buenos Aires. Over a recent 12-month period, the ratio of total area: $ sales was almost identical for both Buenos Aires (200,000 km² : US$4.26MM ) and Punta del Este (20,000 km² : US$437MM). For more information about Maldonado real estate opportunities, visit our archives our download the July 2010 edition of InvestBA Privada.

Scenes from arteBA 2010 in Buenos Aires