Projects like the Dolfines Guarana Towers in Rosario can offer more bang for the peso. (Photo: G.Percoco)
When it comes to Argentina, most foreign real estate investors focus primarily on Buenos Aires and secondarily on more tourist-oriented destinations with great natural amenities like Bariloche, Carilo, Mendoza or Salta.
Often overlooked in the property shuffle are the second and third-largest cities in Argentina: Cordoba and Rosario, with populations of 1.3 million and 1.2 million, respectively.
In making the case for the interior, Impulso Negocios shares the results of a new real estate price comparison between those two cities, Buenos Aires and Punta del Este. Before pointing out the differences, the study notes the similarities between real estate prices in Cordoba and Rosario where unit prices share almost identical price/square foot for studios, 1, 2 and 3 bedroom properties.
The only key differences being construction quality and property location relative to each city’s major river, the Parana in Rosario and the Suqua in Cordoba. In both cities, the average pre-construction price/square foot for a new studio apartment is roughly $130/SF and $120/SF for a 2 or 3-room unit. According to the survey, after a 24-month construction window, those same units typically sell for $160/SF (studio), $150/SF (1 bedroom), and$140/SF (2 or 3-room unit).
Impulso notes these prices are roughly 50-60% less than what one can expect to pay in a market like PuntadelEste or PuertoMadero, where they estimate average price/SF of $343 and $446, respectively. (Full Story in Spanish)
