Buenos Aires New Construction Activity Plummets 85%

Eighteen months since the implementation of currency controls intended to protect Argentina’s dollar reserves, new construction activity in the City of Buenos Aires is grinding to a halt. According to new data from the City’s Ministry of Housing, the number of requests for new construction permits fell 84.6% in the first two months of the year compared to the same …

City of Buenos Aires Existing Property Values Rise 16%

Real estate market activity in Buenos Aires may have slowed given the scarcity of dollars, but average prices of existing condominiums in Buenos Aires posted another double-digit gain in 2012. “The Price of Existing Properties Rises Even Without Sales” is the headline of Gustavo Grimaldi’s analysis of new market data from Reporte Inmobiliario which shows the average price for a …

Parking Meters & Tow Trucks Will Soon Blanket BA Barrios

Parquimetro Para Todos. That’s how some are describing the City of Buenos Aires’ plan to add thousands of new parking meters to 44 of the 48 neighborhoods in Capital Federal. If approved, new parking meters would be installed in over 10,000 blocks of Buenos Aires and meter rates would increase anywhere from 114 to 293% depending on the barrio. While …

As Consumer Spending Slows, Buenos Aires Retail Vacancies Rise

Retail vacancies are rising in downtown Buenos Aires, as consumer spending slows and more small businesses choose not to renew their leases, according to Alfredo Sainz of La Nacion. Sainz says “For Rent” signs are spreading like a virus especially in popular pedestrian corridors like Florida and Lavalle,  and the 30-block area of Recoleta bordered by Alvear, Callao, Cerrito and …

New Construction In Belgrano Outpaces Condo Price Increases

New residential construction activity remains positive in the popular Buenos Aires neighborhoods of Belgrano and Colegiales, according to new annual data from Reporte Inmobilario. Despite the slowdown in market activity caused by currency controls, iProfesional says developers remain optimistic as evident by the number of new buildings planned or currently under construction (46) with close to one million square feet …