Rosario Real Estate Boom Shows No Signs Of Slowing

Patrick Archer agribusiness, aruba, real estate

Rosario Argentina real estate

The City of Rosario approved 7 million square feet of new construction in 2012. (Photo: Norberto Kolus)

Real estate sales activity and new construction may be down this year in Buenos Aires, but that’s not the case in the country’s third largest city, Rosario.

Roughly the size of Montevideo, Rosario is home to 1.3 million residents and one of Argentina’s most important agribusiness metros. In recent years, millions in soydollars generated on the Santa Fe farmland surrounding Rosario has been plowed into the construction of modern high-rise towers along the city’s riverfront.

In total, 43 million square feet (4 million m2) of new condos and office space has come to market in Rosario over the past decade, and Impulso Negocios says local demand for real estate shows no sign of slowing. Last year alone, the City of Rosario approved 2,384 new construction permits which will add another 7.5 million square feet (704,500 m2) to the market.

More than 300 of those new buildings will rise in the city center, while homeowners and investors will take delivery of more than 1,500 new luxury units in Puerto Norte condominiums like Forum Puerto Norte, Maui and Ciudad Ribera.

Impulso bottom lines the unwavering demand for real estate in Rosario and other corners of Argentina: Given the near impossibility of accessing US dollars, real estate investment continues to be the first choice of rosarinos. (Full Story in Spanish)

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