Where Are The Most Expensive Homes In Buenos Aires?

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Where Are The Most Expensive Homes In Buenos Aires?

A new real estate market survey analyzes the most expensive homes in Buenos Aires and the neighborhoods where the majority of these million-dollar listings are located. The findings of the Reporte Inmobiliario study are shared and summarized by Clarin’s Pablo Novillo in Cómo son las casas en venta más caras de Buenos Aires.

252 Million-Dollar Listings In Buenos Aires

Novillo says there are a total of 252 homes and apartments for sale in the City of Buenos Aires and northern neighborhoods beyond Capital Federal with asking prices of US$1 million or more, and many of the properties are listed at prices north of US$10,000 per square meter (US$930 per square foot).

And when it comes to style, decoration and amenities, the author says Hay de todoAristocratic homes, minimalist apartments, Anglo American-style mansions, new construction triplexes, and rock fortresses. Some have wine cellars, elevators, garages for several vehicles, views of the Río de la Plata or panoramic views of the City and other luxury details.”

Palermo Número Uno in Million-Dollar Listings

The Buenos Aires neighborhood with the most million-dollar listings is Palermo with 41 including a home in Barrio Parque listed at US$5.6 million. Recoleta ranks second on the list with a total of 25 million-dollar listings including a home on Avenida de los Incas listed at US$1.9 million.

Recoleta ranks third on the list with a total of 20 million-dollar listings including an apartment in front of the Plaza San Martín priced at US$1.9 million. Puerto Madero rounds out the Top 100 listings adding 14 luxury high-rise properties to the mix including a three-story penthouse listed at US$2.4 million.

The Case for Buenos Aires Affordability

Novillo concludes with a positive spin for the affordability of Buenos Aires luxury properties compared to other global investment destinations.

While US$1 million will typically buy over 300 square meters in barrios like Recoleta and Palermo, US$1 million will only get you 15 square meters in Monte Carlo, 20.6 m2 in Hong Kong and 25.2 m2 in London, a head-to-head comparison we shared last year.

And despite the current recession in Brazil, the average price of luxury properties in São Paulo (136 m2) is still twice that of comparable properties in BA. (Full Story in Spanish)

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