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2010 Real Estate Appreciation in Buenos Aires Neighborhoods

On January 5, 2011, In ba government, real estate, by InvestBA
Buenos Aires Real Estate Price Change by Neighborhood

With two exceptions, BA barrios posting the biggest gains were in the extreme north and south.

A new analysis of real estate price variations for 2009-2010 shows the greatest year-over-year increases in Palermo and Liniers (20 to 25%) followed by 15 to 20% gains in Belgrano, Nunez, Paternal and four southern Capital Federal neighborhoods benefiting from increased business and infrastructure investment from the City of Buenos Aires: Barracas, Constitucion, Nueva Pompeya and Parque Patricios.

Barracas is home to the new Metropolitan Design Center and Parque Patricios is the site of the BA Tech District where an estimated 130 IT companies will be operating by year’s end. The only three BA barrios posting YOY decreases were Colegiales, Recoleta and Retiro.

The data are based on a study of existing apartments in Capital Federal, and according to Clari­n the average increase in price per square foot citywide was 7.74%, although the variations by barrio ranged from annual decreases of 5% to annual increases of almost 25%.

The majority of neighborhoods (30 of 47) like Boedo, Chacarita, La Boca, and San Telmo fell in the 10 to 15% increase category. Clarín also notes the average gap between highest and lowest price per square foot in individual barrios widened to 53% with Almagro, Caballito, Palermo and Retiro showing the greatest variation between minimum and maximum price per square foot.

Brokers surveyed anticipate demand for new units in 2011 will be strongest from investors and existing homeowners looking to trade up, as mortgages remain out-of-reach for first-time homebuyers in Buenos Aires and Argentina in general. (Full Story in Spanish)

For more information about Buenos Aires real estate opportunities, download the new issue of InvestBA Privada.

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Slideshow: The Top 10 Buenos Aires Neighborhoods Based on Average Price

On November 17, 2010, In foreign investment, real estate, by InvestBA

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.

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BA Property Search: US$200,000 to $500,000

On October 14, 2010, In real estate, by InvestBA



This week’s InvestBA Property Search shows a sample of 10 active residential listings in several Buenos Aires neighborhoods priced between US$200,000 and $500,000. Some of the properties are 80-110 years old, most are move-in ready and the majority offer good cash flow potential as PHs or boutique rentals in some of the City’s most desirable neighborhoods. The summary slide on page 5 plots the properties on a Google map and allows a side-by-side comparison based on listing price and square footage. To zoom in on the presentation, click the Fullscreen link above or the magnifying glass below the slides.

For more information, email home@investba.com or call 1.772.933.4663 (U.S.).

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Mar del Penthouse: Coastal Boom for Mar del Plata Real Estate

On May 26, 2010, In foreign investment, real estate, tourism, by InvestBA
Mar del Plata waterfront view

View from the pool deck of Maral 52, one of the luxury towers under construction in Mar del Plata.

Yesterday was an historic day here in Buenos Aires. Millions took to the streets to celebrate the 200th anniversary of the Revolution for independence from Spain.

Further down the coast in Mar del Plata, festivities were equally raucous; yet, it’s another “200″ that’s generating headlines. That’s the number of new buildings currently under construction in this seaside metropolis of 550,000 residents, according to Editorial NyP.

That ratio of new construction to population may sound out of whack until you consider the population of “Mardel” more than doubles several times during the course of the year as visitors, many from Buenos Aires, pack the local beaches. While the numbers are impressive, the housing boom enthusiasm is tempered by NyP with a closer look at real estate values which are now on par with BA neighborhoods like Palermo and Caballito.

Inland real estate values in Mardel are roughly $2,000/m² ($185/SF), while coastal values range from $2,700-4,000/m² ($250-370/SF). General consensus by those interviewed is that prices are inflated and local demand, especially from middle class Argentines who rely on bank financing, may not be adequate to absorb future inventory levels. Some Mardel projects completed during the past two years are still not 100% sold, which may give pause to developers of an additional 200 buildings currently approved.

While foreign buyers may choose to steer clear of Mardel condos, the region should not be overlooked entirely. Beautiful beach cottages and country homes in secluded forests are scattered around Mardel and offer excellent value for investors. (Full Story in Spanish)

For more information about Buenos Aires investment opportunities, download IncomeBA and the new issue of InvestBA Privada.

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