This is a great Youtube video that talks about this big jump in prices from last year. Congratulations to several of you that were lucky enough to have purchased so low. I was thinking of buying another property and chickened out.
That's a great video. It's everything that I forecasted last year would happen with real estate prices. Prices should keep shooting upwards over the next several years.
I am a bit surprised how quickly prices are jumping up. Even on some off plan pozo projects. For example, in this building in Palermo that won't be done until 2027 the prices are already over $5,000 per sq. meter which seems like they keep raising the prices every month. Just wow.
To be fair that is a very nice part of BA! I walked over near the USA Embassy and it was a very fancy area. I looked at some properties over there. Prices definitely have come up since I was looking. I liked that part of Palermo but it didn't seem like I could charge more in rent just because it was in that area. But for sure a great part of BA!
That looks like a nice unit. At least it is renovated. Many listings need a lot of work! Very good area but probably can't do short-term rentals. Many of the buildings over in Palermo Chico are fussy about short-term. My friend bought in a few building a few years ago in that area and they don't allow short-term rentals there. To live looks like a good option. I doubt you could find a great apartment like that in the best area of a major city in the States for this price.
I am surprised they can fit all of that in a shoebox but the photos actually make it look not too small but something I learned is that when there is no furniture in the photos it is difficult to tell. Says the expenses are only $100 per month. Is that a lot? Seems like a good deal to me for someone that just needs a small amount of space.
With basically no amenities, pool, doorman, security listed etc seems like a lot, but it could also be because it's an older building.
You're right, pics can be deceiving, but both listings either had video or 3d walkthrough which gives a better idea. Also some of the older buildings might have smell issues that obviously don't photograph such as possible mold or something else. Would want to do due diligence.
Definitely humidity issues can be problematic on some older buildings. When I was looking many years ago I went into several older properties and right away I could smell humidity issues. I like older properties as they are more charming but when you can smell the humidity run! Had a friend that bought a charming apartment where I could smell it right away but the owner painted the apartment and you couldn't see it. My friend had tons of problems with water leaking into her ceiling.
@FuturoBA I don't see any video or 3D walkthrough on that listing you mentioned. Is it on another site where it has that? Just was curious as I didn't see that on the listing.
That makes sense. And that would worry me, everything else could be replaced but 6 months for plumbing or god forbid electricity sounds like a nightmare.
If you click on photos at the top center there's a white box of "fotos" and right next to that there's "360" you can click on.
Thanks. I had the same question. This website isn't that great and not the most intuitive. I saw that they offered 360 but couldn't figure out where it was. Thanks @FuturoBA
Thanks! That helps a lot. Much different perspective of still photos vs. 3D walkthrough. Those rooms are tiny!
I LOVE the older buildings as they have charm and character, usually have higher ceilings and generally constructed much better but the downside is possible plumbing, electrical and gas that eventually usually need to be replaced. I've owned some older units and I had the same thing happen where a gas line had to get repaired and renovated. Royal pain! Many years ago, there was an explosion with a faulty gas line and after that in several buildings they were going out and checking to make sure they were up to code. It was crazy but in several buildings they just shut off the gas and they were so backed up they couldn't get around for months.
Definitely the 3D walk through or video walkthrough is the best way to get perspective. Some photos are taken with wide-angle cameras and they look really big with no furniture but when you see the video or 3D walk through you see how tiny they are.
That would be terrible to have to battle an HOA to repair a problem that is the fault of the building!
Yes @FuturoBA this is pretty much the new normal on HOA fees. Even with buildings with no amenities this is fairly normal now. I own a 1 bedroom apartment in Recoleta with no amenities. No 24/7 security. A doorwoman that lives in the building and is at the door part of the day and also cleans the building. It's a well managed building with a good administration and my bill was 136,437 pesos last month. (About $105 USD at current exchange rate).
Big fan of older properties as well except the fact many have the galley style kitchens which especially in smaller units would be very cramp. I could imagine sellers doing what they can to cover up a defect instead of actually fixing it, with the unsuspecting buyer none the wiser until it's too late. Reminds me of a video I saw that was supposed to be a joke I think but someone might actually do, is this dude had a hole in the wall and instead of fixing it he just put a vent cover over it lol.
It's amazing how much high ceilings add to the sense of space, but the charm and character of older homes comes at the trade off of what could be a nightmare to repair at least more acutely. My Spanish teacher told me the same thing about her place switching to electric from gas as well due to similar issues.
