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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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La Nacion: 5 Buenos Aires Real Estate Trends and Predictions For 2011

On December 27, 2010, In real estate, by InvestBA
Puerto Madero View

Rose Colored Vista? BA brokers make their 2011 predictions, and InvestBA offers some balance.

La Nacion ends the year with a survey of local real estate brokers and developers (B&D) regarding their outlook and expectations for 2011. Considering the nature of their business, their collective forecast is predictably optimistic, so we’ll put our spin (IBA) on the list to keep things balanced. (Full Story in Spanish)

    1. B&D: The level of investor demand we have seen for the past year will continue in 2011, even though it is an election year. IBA: The importance of the upcoming elections cannot be diminished, especially given the unrest of the past few weeks. An administration that emulates Brazil and Chile in terms of encouraging DFI, promoting transparency, eschewing populist rhetoric and actually enforcing existing immigration and property laws will go a long way toward restoring confidence.
    2. B&D: The greatest demand will be among buyers looking for units under US$200,000, but there is a growing niche looking for more expensive offerings. IBA: The under-$200,000 market will be strongest in emerging barrios like Villa Crespo, Villa Urquiza and Barracas where that sum actually buys a decent-sized apartment. 2 and 3-room units with good locations/views in the Big 3 are well north of US$200,000.
    3. B&D: Values per square foot will not decrease, because the local real estate market is not fueled by cheap credit, but rather cash and real investment. IBA: The all-cash factor is an undeniable advantage of the real estate markets in Argentina and Uruguay, but no guarantee of a price floor. Cash or credit, if there is an oversupply of units in a given market (e.g., Puerto de Madero, Mar del Plata), prices per square foot will adjust accordingly.
    4. B&D: Land prices will continue rising, especially in Capital Federal where available lots are increasingly scarce. IBA: Agreed. Ditto for construction costs.
    5. B&D: Small units which can be resold quickly will be the most in demand. IBA: Cheaper is not necessarily better, and developers who only build 1 and 2-room units in the city’s most expensive neighborhoods are simply following the herd. The trailblazers will be recycling buildings and developing large units in BA’s emerging barrios with Subte access.

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

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VanityBA: The Buenos Aires International Jazz Festival Is Underway

On December 6, 2010, In arts & entertainment, ba government, buenos aires events, creative class, culture, vanityba, by laura
BA Jazz Festival 2010

BAJF 2010 features international stars, local emerging artists and Argentines who found success abroad.

As the weather heats up in Buenos Aires, the city’s cultural calendar appears to be following the same trajectory. The 2010 Buenos Aires Jazz Festival, organized by the City of Buenos Aires, has taken over cultural centers and theaters throughout the city. The annual event features some of the world’s top jazz talent as well as local emerging artists.

Musicians from Argentina, the U.S., Chile, Italy, France, Spain and Brazil are converging in Buenos Aires for concerts, workshops and films during the six-day event. Concerts throughout the city feature avant-garde performances as well as more traditional fare allowing musicians from opposite ends of the world to collaborate.

In the “Repatriated” portion of the festival, BA welcomes back talented Argentine expats whose work abroad has helped Argentine jazz gain international respect. Featured “repats” include trumpet player Diego Urcola, pianists Sergio Gruz and Federico Lechner, and drummer Guillermo Nojechowicz.

Realizing the importance of creating an educational space where the festival’s musicians can share their expertise with young and emerging artists, the JazzFest’s organizers have placed great importance on El Aula (The Classroom) section of the event. Open classes, master classes, clinics and workshops in singing, bass and drums are being offered throughout the festival.

Following the formal concerts, there will be an opportunity for the featured musicians and the public to come together for a relaxed jam session. As Minister of Culture Hernan Lombardi said of the festival, “Six days of jazz in Buenos Aires will bring an ideal combination of great music to a city that breathes culture.”

For more information about arts and cultural events in Buenos Aires, 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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VanityBA: Buenos Aires Photo 2010 Opens

On October 28, 2010, In arts & entertainment, buenos aires events, creative class, culture, vanityba, visionaries, by laura
Buenos Aires Photo 2010

Over 3,200 photos will be on display now through Sunday at the Palais de Glace.

Today the sixth edition of Buenos Aires Photo, Latin America’s most important photography show, opens to the public at Recoleta’s Palais de Glace. Between now and the 31st of October, the works of over 150 artists from Argentina, Canada, Chile, Spain, the United States, Perú and Uruguay will be on display and the forty participating galleries are exhibiting the photos by their artists throughout the two stories of the Palais de Glace.

Over 3,200 photographs,  ranging from landscapes to portraits and still lifes to abstract images, cover the walls of the venue. Their subjects evoke a wide range of emotion as they touch on poverty, sexuality, and nature, among others. Each night, the Programa Auditorio Fundación Deloitte will put on roundtable discussions where special guests will delve into some of the questions and pressing issues that affect the world of photography, such as photography and the art market and the reconciliation of history and contemporary art.

The American Express Foundation donated $20,000 USD to the Asociación Amigos de MALBA for the acquisition of works from BA Photo. Liliana Porter’s “Red with him” and Nicola Constantino’s “Autoretrato Nicola según Berni” were chosen by MALBA’s selection committee.

For more on Buenos Aires artists and Latin American art trends, download the new issue of InvestBA Privada.

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