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Brand new homes in Buenos Aires are one of the keys to the boom and revival of the real estate market - Infobae
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Las viviendas porteñas a estrenar son una de las claves del auge y la reactivación del mercado inmobiliario
Propiedades nuevas experimentaron un crecimiento en la demanda durante 2024. Factores como créditos hipotecarios, blanqueo de capitales y mayor confianza económica impulsaron las compra venta, con precios en constante ascenso
www.infobae.com
December 25, 2024
New properties experienced growth in demand during 2024. Factors such as mortgage loans, money laundering and greater economic confidence boosted sales, with prices constantly rising
By Jose Luis Cieri
Finishes and good circulation space are vital to tempt someone interested in buying a brand new home (Illustrative Image Infobae)
The demand for brand new homes in the city of Buenos Aires gained momentum in the last months of 2024 and reflects a recovery similar to that of the used housing market, after more than five years of crisis. Thus, this segment emerges as a prominent trend in the real estate sector.
This increase was driven by economic and political factors, which generated greater confidence among buyers and investors.
“The political factor was key, since campaign promises were fulfilled and confidence was transmitted to buyers, sellers and investors,” Agustín Walger , director of New Developments at Lepore Properties, told Infobae .
Mortgage loans and money laundering are also highlighted as key drivers of this market recovery.
“The political impact was fundamental, but the economic stabilization and the measures implemented generated confidence among buyers, investors and sellers. These conditions translated into an increase in operations towards the end of the year, tripling the levels of the first half of the year,” added Walger.
Increase in prices and priorities
In terms of prices, brand new properties in sought-after neighbourhoods such as Palermo are showing significant increases. A two-room apartment in this area costs approximately USD 165,000 , while a three-room apartment is around USD 250,000 , which represents an increase of 12% compared to the previous year.New property values reflect increases compared to 2023, driven by sustained demand and rising construction costs ( up 145% year-over-year ).
Sofía Grinberg , marketing manager at Newland, stressed that the homes remain attractive in the face of construction costs and inflation. “In the case of studio apartments, prices range from USD 69,000 to USD 180,000, depending on the features and amenities they offer,” she said.
Buyers prioritize properties with good locations, transportation services such as the subway, close to their workplaces, schools or social spaces.
According to Walger, location remains the main decision-making factor. In addition, interested parties value quality finishes, such as porcelain floors and double-glazed carpentry, which help reduce HVAC costs and improve energy efficiency.
Kitchens with islands and integrated into other environments are key in the new homes on the real estate market
On the other hand, amenities play an important role in today's market. Large balconies, barbecue grills and functional common spaces are some of the most requested elements, while options such as swimming pools or gyms are reserved for premium developments.
Diversity in demand
Two- and three-room units account for 60% of the transactions in the city, followed by four-room properties, which represent 20%, according to the real estate market.Studio apartments are the main attraction for investors, although their market share remains at lower levels.
Walger highlighted that developers adapted their projects to respond to the economic restrictions of previous years. This resulted in more compact and affordable units. “In neighborhoods such as Palermo, Caballito and Belgrano, the surface areas of the properties remained stable, but in less traditional areas the homes have more adjusted designs, focused on new owners,” he explained.
As for the most sought-after areas, Palermo and Belgrano lead the preferences due to their consolidated offer of services and connectivity. However, emerging neighborhoods such as Chacarita ( among the coolest in the world ), Villa Urquiza and Barracas show notable growth.
Connection with the outside is key in an apartment that has not yet been used. It tempts potential buyers even more.
“Chacarita has become a magnet for developers and buyers, thanks to its gastronomic offering and its proximity to Palermo,” said Grinberg.
Outlook for 2025
The market for new homes remains optimistic for the coming year. The arrival of foreign investment and the consolidation of credits for developers ( through divisible or future mortgages ) could boost activity even further.Walger predicted that values will continue to rise in 2025, with growth projections of up to 20% in neighborhoods such as Caballito and Palermo.
This context could strengthen the recovery of key sectors and encourage the expansion of projects in strategic areas.
Grinberg also noted that the renovation of less traditional neighborhoods, such as Barracas and Villa Urquiza, will open up new opportunities for buyers interested in properties with an excellent cost-benefit ratio.
Recommendations for buyers
In a dynamic market, the sector advises to proceed with caution when defining a transaction.Walger suggested that those planning to sell to buy a larger property secure their new acquisition before closing the sale, avoiding capital loss in a rising price environment.
Grinberg, for his part, stressed that modern developments in areas with high connectivity and services represent the best options for buyers. He also recommended evaluating finishes and amenities that optimize maintenance costs and services in the long term.
With a year-end marked by an increase in transactions ( October marked the best record in the last seven years , with nearly 6,000 deeds completed) and the recovery of the sector, the real estate market for new homes is positioned as one of the main investment options.
“The outlook for 2025 confirms a scenario of sustained growth, with opportunities both in traditional neighbourhoods and in areas undergoing rapid development,” concluded Grinberg.
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