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Brand new in Belgrano R does not recover
November 13, 2023
The average price also declines in this area for the fourth consecutive year. The offer values have already fallen back to 2016 levels. 19th annual RI survey.
The area commonly known as Belgrano R not only involves a part of the Belgrano neighborhood but also includes other blocks that are located within the geography of the Villa Urquiza and Villa Ortuzar neighborhoods.
For the 19th consecutive year, the Real Estate Report carried out a survey of works under construction and/or recently completed buildings in the area between Av. Cabildo, the FC roads, Olazabal and La Pampa within this particular Buenos Aires area.
In this area of 36 blocks on which the study was carried out, 21 projects were currently found, having decreased compared to last year, when we found 27. Of the total residential developments present within that sector, 7 are just beginning in the demolition and/or initial soil movement stage.
The current average price of the units formally offered for sale reaches U$S/m2 3,284, which represents a drop of 4.21% in relation to the U$S/m2 3,428 that the average of the survey of values of the year 2022.
While a year ago the lowest listed value per m2 recorded within the developments was US$3,022/m2, currently the apartment is located at US$2,840/m2. The highest requested value in the current survey reaches US$/m2 3,885, while a year ago the highest price was US$/m2 3,671.
The offer values went back almost to those of 2016, practically 7 years ago in nominal terms. In general, to formalize the purchase within the majority of ventures, an advance payment in dollars of the value of the unit is requested, no less than 35%, which in some ventures reaches 50% of the total value, and then in some cases installment payments are admitted. in pesos updateable by CAC and in others dollars are required for subsequent payments.
The quotes for the garages within the projects start at US$33,000 and reach US$37,000. Unlike the departments, they show an increase compared to last year.
Within the same area there are 956 used units on offer, with an average value for the two rooms of $2,496 per m2. Last year there were 846 used units on offer, with an average value for the two rooms of $2,688 per m2.
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