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Apartment prices are rising: 90% of CABA neighborhoods increased their value by up to 10% year-on-year - Infobae
Source:
www.infobae.com
July 04, 2024
This was confirmed by a private report which indicated that prices have reached their lowest point after five and a half years. The analysis also revealed what is happening with rental prices and how supply is progressing after the DNU that repealed the Rental Law.
By Jose Luis Cieri
Purchase and sale prices are recovering in most of the Buenos Aires neighborhoods and the supply of properties for rent is growing (Illustrative Image Infobae)
A private analysis confirmed the improvement in the Buenos Aires real estate market and found that apartments in 90% of the neighborhoods of the city of Buenos Aires increased their value, in some areas by up to 10%, after five and a half years. This confirmed that the decrease found its bottom, news expected in the sector at the time when mortgage loans also returned .
According to Zonaprop, the website that produced the report, the neighborhoods of Colegiales, Palermo and Parque Avellaneda, with 9.7%, 9% and 8.9% respectively, lead the expansion of apartment values.
Colegiales, in the northern part of Buenos Aires, is consolidating itself as a neighborhood that attracts demand, especially in proximity to the old Railway Park. Located between Virrey Olaguer and Feliú streets, Moldes, Federico Lacroze Avenue and the Mitre railroad tracks, this area is experiencing a notable transformation. After the recovery by the Buenos Aires Government, the area became the epicenter of new housing projects, promoting existing properties.
Source: Zonaprop
Pablo Valencia Neira , from Valencia Neira Real Estate, highlighted to Infobae that “this part of Colegiales benefits in a certain way from the spillover effect generated by the growth of adjacent neighborhoods such as Belgrano and Palermo. In addition, the area is driven by a demanding housing demand. An additional factor that favors the development of this new green corridor in formation is its proximity to Avenida Cabildo, known for its commercial diversity.”
Palermo is always among the most sought after; its multifaceted offer includes service areas, health centres, commercial and gastronomic centres, which gives it a great privilege. Parque Avellaneda benefited from the recovery of green areas that attract mainly families and young people, tempted to move to this area that connects the south with the west of Buenos Aires.
According to the survey conducted by Zonaprop, the price per square meter in CABA increased by 1.2% in June, the largest monthly increase since April 2018. It has accumulated a rise of 4.3% in the first half of the year.
The average price per m2 is USD 2,269, 5.5% above the average recorded in July 2023 but 19% below the maximum reached in 2019.
A 40 m2 a studio apartment is listed for sale at USD 100,280, while a 50 m2 one-bedroom apartment is priced at USD 120,356 and a 70 m2 two-bedrooms apartment costs USD 165,111.
Despite the recession that the Argentine economy is going through, the real estate market is showing signs of recovery. In the last six months, there has been a significant growth in purchase and sale transactions compared to the previous six years.
“The possibility that the national government will lift the exchange rate restrictions also contributes to a more optimistic outlook. This measure could facilitate purchase and sale operations and increase investment in the sector, eliminating a significant barrier that affected investors and buyers,” said Lisandro Cuello , a real estate expert.
Apartments located in Puerto Madero continue to be the most sought-after in the city: the average value is USD 5,931 per m2
Lugano remains the most affordable property, with an average price of USD 989 per m2. It is followed by Nueva Pompeya (USD 1,382) and Villa Riachuelo (USD 1,433 per m2).
The supply after the DNU that repealed the Rental Law registered an increase of 192% in 2024 and records a supply volume 230% higher than that registered in February 2023.
A studio apartment rents for $391,910 per month, while a studio apartment rents for $449,915 and a one-bedroom apartment rents for $602,830 per month.
“They continue to represent a challenge for the pocket of a family or a person living alone, but now, with more negotiation, there is the possibility of achieving a lower initial value because prices are adjusted for shorter periods, usually quarterly, by the Consumer Price Index (CPI) or the Rental Contracts Index (ICL). This also makes the owner more willing to offer his property and not leave it empty or appeal to extensions as when housing leases were regulated by the repealed Rental Law,” said Oscar Puebla , architect and Real Estate expert.
Puerto Madero remains the most expensive rental offer in CABA, with an average price of $997,793 per month. It is followed by Palermo ($516,957) and Núñez ($506,335 per month).
On the other hand, Lugano, Mataderos and Floresta are the most affordable options on the market. They cost $295,056, $359,023 and $367,911 per month, respectively.
www.buysellba.com
Source:
Suben los precios de departamentos: el 90% de los barrios de CABA aumentó su valor hasta un 10% interanual
Así lo confirmó un informe privado que indicó que las cotizaciones encontraron su piso después de cinco años y medio. El análisis también reveló qué sucede con los valores para alquilar y cómo progresa la oferta tras el DNU que derogó la Ley de Alquileres
www.infobae.com
July 04, 2024
This was confirmed by a private report which indicated that prices have reached their lowest point after five and a half years. The analysis also revealed what is happening with rental prices and how supply is progressing after the DNU that repealed the Rental Law.
By Jose Luis Cieri
Purchase and sale prices are recovering in most of the Buenos Aires neighborhoods and the supply of properties for rent is growing (Illustrative Image Infobae)
A private analysis confirmed the improvement in the Buenos Aires real estate market and found that apartments in 90% of the neighborhoods of the city of Buenos Aires increased their value, in some areas by up to 10%, after five and a half years. This confirmed that the decrease found its bottom, news expected in the sector at the time when mortgage loans also returned .
According to Zonaprop, the website that produced the report, the neighborhoods of Colegiales, Palermo and Parque Avellaneda, with 9.7%, 9% and 8.9% respectively, lead the expansion of apartment values.
Colegiales, in the northern part of Buenos Aires, is consolidating itself as a neighborhood that attracts demand, especially in proximity to the old Railway Park. Located between Virrey Olaguer and Feliú streets, Moldes, Federico Lacroze Avenue and the Mitre railroad tracks, this area is experiencing a notable transformation. After the recovery by the Buenos Aires Government, the area became the epicenter of new housing projects, promoting existing properties.
Source: Zonaprop
Pablo Valencia Neira , from Valencia Neira Real Estate, highlighted to Infobae that “this part of Colegiales benefits in a certain way from the spillover effect generated by the growth of adjacent neighborhoods such as Belgrano and Palermo. In addition, the area is driven by a demanding housing demand. An additional factor that favors the development of this new green corridor in formation is its proximity to Avenida Cabildo, known for its commercial diversity.”
Palermo is always among the most sought after; its multifaceted offer includes service areas, health centres, commercial and gastronomic centres, which gives it a great privilege. Parque Avellaneda benefited from the recovery of green areas that attract mainly families and young people, tempted to move to this area that connects the south with the west of Buenos Aires.
According to the survey conducted by Zonaprop, the price per square meter in CABA increased by 1.2% in June, the largest monthly increase since April 2018. It has accumulated a rise of 4.3% in the first half of the year.
The average price per m2 is USD 2,269, 5.5% above the average recorded in July 2023 but 19% below the maximum reached in 2019.
A 40 m2 a studio apartment is listed for sale at USD 100,280, while a 50 m2 one-bedroom apartment is priced at USD 120,356 and a 70 m2 two-bedrooms apartment costs USD 165,111.
Despite the recession that the Argentine economy is going through, the real estate market is showing signs of recovery. In the last six months, there has been a significant growth in purchase and sale transactions compared to the previous six years.
“The possibility that the national government will lift the exchange rate restrictions also contributes to a more optimistic outlook. This measure could facilitate purchase and sale operations and increase investment in the sector, eliminating a significant barrier that affected investors and buyers,” said Lisandro Cuello , a real estate expert.
More expensive and cheaper
According to the report, Puerto Madero, Palermo and Belgrano remain on the podium of neighborhoods with the highest prices, with a value of USD 5,931, USD 3,172 and USD 2,916 per m2, respectively.
Apartments located in Puerto Madero continue to be the most sought-after in the city: the average value is USD 5,931 per m2
Lugano remains the most affordable property, with an average price of USD 989 per m2. It is followed by Nueva Pompeya (USD 1,382) and Villa Riachuelo (USD 1,433 per m2).
Rents with moderate increases
The average rental price rose 2.2% in June, and has accumulated an increase of 34% for the first half of the year, slightly below the accumulated inflation.The supply after the DNU that repealed the Rental Law registered an increase of 192% in 2024 and records a supply volume 230% higher than that registered in February 2023.
A studio apartment rents for $391,910 per month, while a studio apartment rents for $449,915 and a one-bedroom apartment rents for $602,830 per month.
“They continue to represent a challenge for the pocket of a family or a person living alone, but now, with more negotiation, there is the possibility of achieving a lower initial value because prices are adjusted for shorter periods, usually quarterly, by the Consumer Price Index (CPI) or the Rental Contracts Index (ICL). This also makes the owner more willing to offer his property and not leave it empty or appeal to extensions as when housing leases were regulated by the repealed Rental Law,” said Oscar Puebla , architect and Real Estate expert.
Puerto Madero remains the most expensive rental offer in CABA, with an average price of $997,793 per month. It is followed by Palermo ($516,957) and Núñez ($506,335 per month).
On the other hand, Lugano, Mataderos and Floresta are the most affordable options on the market. They cost $295,056, $359,023 and $367,911 per month, respectively.
www.buysellba.com
