Fútbol phenom Lionel Messi is one of the partners in the largest country club development in Argentina's interior.
December 2009 was a turning point in the Buenos Aires real estate market. After eleven months of home sales weaker than the same month in 2008, sales finally jumped into positive territory in December, a trend that would continue over the course of 2010. Now, one year later, Argentina real estate developers are feeling bullish about their ability to sell existing inventory and launch new projects in 2011.
In the new survey from the Business Chamber of Urban Developers (CEDU), developers said 2010 was a very good year given the sale of lots and the increase in lot values due to growing demand. According to La Nación, two-thirds of those surveyed (66%) said they plan to launch new projects in the first quarter of 2011.
“The niche with the greatest growth potential for 2011 will be projects that encompass less than 2.5 acres,” said CEDU president Raúl Sáenz Valiente, “because a property that size can be acquired without the need for financing.” In terms of Argentina cities where builders anticipate the most new development, Buenos Aires, Córdoba, Mendoza and RÃo Negro top the list.
In terms of future growth in and around Buenos Aires, several developers surveyed say they are beginning to look south to La Plata and major corridors like Route 58 between Canning and San Vicente where undeveloped land is cheaper, more abundant and in relatively easy driving distance to Capital Federal. (Full Story in Spanish)
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