Real Estate Sales Another micro-neighborhood of Buenos Aires' Palermo - Palermo Freud

[Surfer]

Yet another article in the paper that talks about real estate prices turning the other way after falling for 5 YEARS. Timing is everything when buying real estate. Our office at @BuySellBA forecasted everything that is happening now last year in August 2023 when we forecasted that we were at the bottom or a few months from hitting the bottom.

After 5 years, apartment prices in CABA increased again

April 9, 2024

buysellba.com

I read some of your posts on Twitter from last year @BuySellBA. Wow good call! How did you know it was the bottom?? After all, it was falling for 5 years. Remarkable. I read about this area but do you see Palermo Soho and Hollywood also continuing to go up from here?

 

[BuySellBA]

I read some of your posts on Twitter from last year @BuySellBA. Wow good call! How did you know it was the bottom?? After all, it was falling for 5 years. Remarkable. I read about this area but do you see Palermo Soho and Hollywood also continuing to go up from here?

Thanks @Surfer! We sold most of our real estate portfolio in 2018 and 2019 at the top of the market. We watched it steadily go down for almost 5 years and were waiting on the sidelines for when we believed that prices hit bottom. Most times it is impossible to get the absolute tops and the absolute bottoms but we looked at the prices of land and also the cost to build and we concluded that it was at the bottom or a month or two from the bottom. We did the same thing entering the USA real estate market in 2010 and 2011 at the bottom and exited out of the USA real estate market earlier this year.

We also forecasted that Javier Milei would easily win the election which is what happened. Under a Milei Presidency, we calculated that interest in Argentina would increase and foreign investments would increase. There are still many issues to solve with Argentina and the inflation has been painful for the locals, but it appears to be slowing down and hopefully by this time next year things will be much more stable.

Buenos Aires is one of the truly great world capital cities around the world. It will always be a desirable city. That should continue to be the case heading into the future. If the economy finally turns, real estate prices should skyrocket here.

Palermo Soho and Palermo Hollywood should also continue to experience great capital appreciation. All of Palermo is a very desirable area and property prices should perform well over during President Milei's term in office and most likely beyond.

 

[MikeAnton]

Thanks @Surfer! We sold most of our real estate portfolio in 2018 and 2019 at the top of the market. We watched it steadily go down for almost 5 years and were waiting on the sidelines for when we believed that prices hit bottom. Most times it is impossible to get the absolute tops and the absolute bottoms but we looked at the prices of land and also the cost to build and we concluded that it was at the bottom or a month or two from the bottom. We did the same thing entering the USA real estate market in 2010 and 2011 at the bottom and exited out of the USA real estate market earlier this year.

We also forecasted that Javier Milei would easily win the election which is what happened. Under a Milei Presidency, we calculated that interest in Argentina would increase and foreign investments would increase. There are still many issues to solve with Argentina and the inflation has been painful for the locals, but it appears to be slowing down and hopefully by this time next year things will be much more stable.

Buenos Aires is one of the truly great world capital cities around the world. It will always be a desirable city. That should continue to be the case heading into the future. If the economy finally turns, real estate prices should skyrocket here.

Palermo Soho and Palermo Hollywood should also continue to experience great capital appreciation. All of Palermo is a very desirable area and property prices should perform well over during President Milei's term in office and most likely beyond.

I agree about Buenos Aires being a great city. I still cant get over how little the salaries are but how all the purchases are cash. That actually gives me some comfort that things arent over priced because it is not like the US where people get overleveraged and go bankrupt here. You ain't buying unless you have all the cash.

Good call on buying in US in 2010. That was when I bought and just sold my condo.

 

[old fart]

Yes BA has the most therapists in the world. All stay very busy. It funny but my therapist live in Palermo Freud! Very good area so you do good @FuturoBA. Close by Alto Palermo is a very nice area and great public transportation. All the things are closeby. Congratulations.

I just saw this online. I thought this was a new distinction but the Villa Freud has been for a while now. Found this old 10 year old article.

The area around Plaza Guemes is nicknamed “Villa Freud” because of the concentration of psychologists’ offices there. Frankenberg says it makes sense for many professionals to have offices there because it’s “very safe and beautiful and commercial,” with easy access.

https://www.cnn.com/2013/04/28/health/argentina-psychology-therapists/index.html

 

[Avocado]

I just saw this online. I thought this was a new distinction but the Villa Freud has been for a while now. Found this old 10 year old article.

The area around Plaza Guemes is nicknamed “Villa Freud” because of the concentration of psychologists’ offices there. Frankenberg says it makes sense for many professionals to have offices there because it’s “very safe and beautiful and commercial,” with easy access.

https://www.cnn.com/2013/04/28/health/argentina-psychology-therapists/index.html

Yes it called Villa Freud long time. Many therapist in that area.

 

[Anchor Baby]

Would this be a good area to raise a 3 year old and also a new born baby? Someone else told me Belgrano would also be nice. We don't want too touristy of an area but something that is very convenient to the city and parks.

 

[Vince]

Unlikely. Try searching Palermo Alto nearby which is more well known but even then airbnb doesn't give exact locations until after you book.

It looks like they are finally fixing up that Paseo del Sol area. I heard it will be very nice. The people behind the Alto Palermo shopping mall bought it and I heard making it into something cool.

LA NACION

Información confiable en Internet. Noticias de Argentina y del mundo - ¡Informate ya!

www.lanacion.com.ar

 

[crypto]

It looks like they are finally fixing up that Paseo del Sol area. I heard it will be very nice. The people behind the Alto Palermo shopping mall bought it and I heard making it into something cool.

LA NACION

Información confiable en Internet. Noticias de Argentina y del mundo - ¡Informate ya!

www.lanacion.com.ar

Anyone have that article? I can't see it without subscription.

 

[GraceH]

Anyone have that article? I can't see it without subscription.

Looks like it is here

Thread 'Palermo: It was a fashionable promenade, but since the pandemic, it has fallen into disrepair and a project is underway to give it new life- La Nacion'
https://www.expatsba.com/threads/pa...-underway-to-give-it-new-life-la-nacion.3838/

 

[FuturoBA]

It looks like they are finally fixing up that Paseo del Sol area. I heard it will be very nice. The people behind the Alto Palermo shopping mall bought it and I heard making it into something cool.

LA NACION

Información confiable en Internet. Noticias de Argentina y del mundo - ¡Informate ya!

www.lanacion.com.ar

Great find. Thanks for sharing that.

“The idea is not to annex it to Alto Palermo, but rather for it to be a project in itself. We are still thinking about the spirit we want it to have. We have not yet defined the project, but the idea is for it to be something young, urban and designer ,”

Hoping that it won't be some box chain stores, and from the sounds of it, it won't be. Exciting to see what it will be.

 

[memories]

Great find. Thanks for sharing that.

“The idea is not to annex it to Alto Palermo, but rather for it to be a project in itself. We are still thinking about the spirit we want it to have. We have not yet defined the project, but the idea is for it to be something young, urban and designer ,”

Hoping that it won't be some box chain stores, and from the sounds of it, it won't be. Exciting to see what it will be.

It is good to see they will develop that area. We have fond memories of that area. We lived in BA many years ago from 2000-2005 and vividly remember the first Starbucks that opened up in Buenos Aires. We stood in line 2 hours at Alto Palermo to get a coffee. Great to see many good coffee houses in the city now.

That street was not bad 20 years ago but sounds like it has progressively gotten worse. It sounds like after covid it must have devasted all the restaurants here.

That is a wonderful area of Buenos Aires and will be interesting to see what they do there.

 

[Betsy Ross]

Great find. Thanks for sharing that.

“The idea is not to annex it to Alto Palermo, but rather for it to be a project in itself. We are still thinking about the spirit we want it to have. We have not yet defined the project, but the idea is for it to be something young, urban and designer ,”

Hoping that it won't be some box chain stores, and from the sounds of it, it won't be. Exciting to see what it will be.

I agree about the box chain stores. It doesn't sound like that will happen. That owner has very deep pockets and they will undoubtedly want to make a lot of money with that investment so they will most likely do something fun and popular. That area of the city is very nice and convenient. I have many friends that live in that area and they enjoy living there.

 

[Vince]

One of my friends works for IRSA and he said it will be a great project. Didn't give specifics but he told me a while ago they purchased those properties.

 

[earlyretirement]

It is good to see they will develop that area. We have fond memories of that area. We lived in BA many years ago from 2000-2005 and vividly remember the first Starbucks that opened up in Buenos Aires. We stood in line 2 hours at Alto Palermo to get a coffee. Great to see many good coffee houses in the city now.

That street was not bad 20 years ago but sounds like it has progressively gotten worse. It sounds like after covid it must have devasted all the restaurants here.

That is a wonderful area of Buenos Aires and will be interesting to see what they do there.

@memories,

I lived in Buenos Aires back then too and also remember that first Starbucks that opened there at Alto Palermo. I actually tried to get them to allow me to buy a franchise back then but they weren't selling them back then. It took off very quickly.

This is a great area. I hope they do something nice in that block. It has really gone down hill over the past years. How wonderful that IRSA bought it and going to invest in that block. I hope it's NOT loud clubs. Nothing worse for Palermo than those loud clubs.

 

[Uncle Wong]

Would this be a good area to raise a 3 year old and also a new born baby? Someone else told me Belgrano would also be nice. We don't want too touristy of an area but something that is very convenient to the city and parks.

Belgrano seemed like a nice area for families. It was too slow paced for me and a bit of a journey to most areas I was in but I would think with a baby and one on the way great area. I walked around Chinatown and that general area and there were a lot of nice houses there.

 

[Blockchain]

Great find. Thanks for sharing that.

“The idea is not to annex it to Alto Palermo, but rather for it to be a project in itself. We are still thinking about the spirit we want it to have. We have not yet defined the project, but the idea is for it to be something young, urban and designer ,”

Hoping that it won't be some box chain stores, and from the sounds of it, it won't be. Exciting to see what it will be.

I have not walked down this particular block but I did walk around the Alto Palermo shopping mall area. I liked it. They even have a big movie theatre where I saw a movie in English. I like how central the area is. Nothing is too far. I wouldn't want to be all the way down in Puerto Madero or San Telmo or all the way in Belgrano. Either ends are a hike to other areas but anywhere in Palermo isn't too far from the places you will want to go.

I also rented an apartment in Recoleta and the area is much quieter and more residential but can be a bit boring if you want to be in the heart of things.

 

[Vero]

Belgrano seemed like a nice area for families. It was too slow paced for me and a bit of a journey to most areas I was in but I would think with a baby and one on the way great area. I walked around Chinatown and that general area and there were a lot of nice houses there.

Belgrano is a perfect area for young families. So is most of Palermo and Recoleta. I would be more focused on finding an apartment that is quiet and not loud with a new born.