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Buying a property: which are the most sought-after areas in CABA and Greater Buenos Aires - Infobae
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www.infobae.com
August 29, 2024
A private report revealed the neighborhoods and districts with the highest demand. Prices, which show a slight increase of 4.49% year-on-year, indicate a trend towards recovery in the sector.
By Jose Luis Cieri
In CABA and GBA the buying and selling market is recovering: a report specified which are the most sought-after places to acquire apartments
The Buenos Aires neighborhoods of Palermo, Recoleta, Belgrano and Núñez, and the cities of Vicente López, Tigre and La Plata, in Greater Buenos Aires (GBA), stand out in searches for properties to buy.
This was confirmed by a private analysis which detailed that Palermo leads the preferences in CABA with 20% of the inquiries for the purchase of used and brand new apartments. “It is the neighborhood with the greatest projection. There are more than 300 developments available and it is a modern place, which stands out for its location, green areas, shops and security,” explained to Infobae Solange Vega , commercial director of Properati and Proppit in Argentina.
Palermo also stands out for being a multifaceted and touristic neighborhood, with rental opportunities with high returns, even in times of crisis. Despite the regulations imposed by the Rental Law, now repealed by the current Government, investors found in temporary rentals a way to obtain significant profits, maintaining this sector of the City as a vital option for real estate investment.
Brian Levi , from Century 21 Levi, said that “Palermo attracts home buyers because it is the neighborhood of choice for young people thanks to its public transportation, shopping areas, restaurants and bars that combine modernity and tradition in one place. It occupies the place previously held by Recoleta as the most desired neighborhood for young people and tourists.”
Other neighbourhoods in CABA that are ranked at the top of the searches are Recoleta (9%), Belgrano (8%) and Núñez (4%). Vega said: “In Recoleta and Belgrano, the investment is much less risky: they are designed with projection, basic care in urban planning, nearby transport and dynamic streets. It is most likely that the price of living there will not vary too much and demand will remain.”
Prices per m2 in CABA registered a general depreciation. However, Palermo stood out as the neighborhood that suffered the least from this fall (its value per m2 is USD 3,320 and is only surpassed by Puerto Madero with an average of USD 5,395), with a decrease that oscillated around 25%, while in other neighborhoods the decrease reached up to 40% on average. “Palermo is recovering faster than other areas, stabilizing its prices and showing a notable resilience in the real estate market,” the report explained.
Furthermore, according to Properati, demand is also distributed among neighborhoods with a more affordable average price per square meter, such as Almagro, Caballito, Villa Urquiza and Villa Crespo, which together account for more than 20% of total searches in CABA.
Flores and Balvanera, between the west and south of the city, also stand out and account for 7% of the inquiries, with values around USD 1,800 per m2.
Vega commented: “They have a profile of developing areas. Buying there implies a lower price, but more risk because the future projection, for it to be profitable, depends on several factors such as security and urban infrastructure.”
The neighborhoods with the lowest percentage of searches are evenly distributed throughout the city, capturing between 1% and 3% of queries (among them Parque Chacabuco, La Boca, Lugano, Parque Patricios or Agronomía).
Two exceptions are Tigre and La Plata, each accounting for 8% of searches. According to the report, “they already enjoy an established urban position. They have grown in various ways to become residential, commercial and employment hubs.”
Azcuénaga and Roca, in Vicente López, the most sought-after place in the GBA to buy apartments
The study also highlights that the remaining 38% of searches are distributed between districts of Greater Buenos Aires (GBA) West and South, such as La Matanza, Morón and Avellaneda.
Vega added: “Average prices in these areas are around USD 1,600 per m2, with different profiles of buyers looking for homes for both investment and personal use.”
“The key advice is to make a list prioritizing from the most important to the least essential. It is essential that the location is always among the three most decisive factors. In times of crisis, the location is what best maintains its value and resistance in the market,” Levi concluded.
www.buysellba.com
Source:
Comprar una propiedad: cuáles son las zonas más requeridas en CABA y el Gran Buenos Aires
Un informe privado reveló los barrios y partidos con mayor demanda. Los precios, que muestran un leve incremento del 4,49% interanual, señalan una tendencia hacia la recuperación del sector
www.infobae.com
August 29, 2024
A private report revealed the neighborhoods and districts with the highest demand. Prices, which show a slight increase of 4.49% year-on-year, indicate a trend towards recovery in the sector.
By Jose Luis Cieri
In CABA and GBA the buying and selling market is recovering: a report specified which are the most sought-after places to acquire apartments
The Buenos Aires neighborhoods of Palermo, Recoleta, Belgrano and Núñez, and the cities of Vicente López, Tigre and La Plata, in Greater Buenos Aires (GBA), stand out in searches for properties to buy.
This was confirmed by a private analysis which detailed that Palermo leads the preferences in CABA with 20% of the inquiries for the purchase of used and brand new apartments. “It is the neighborhood with the greatest projection. There are more than 300 developments available and it is a modern place, which stands out for its location, green areas, shops and security,” explained to Infobae Solange Vega , commercial director of Properati and Proppit in Argentina.
Palermo also stands out for being a multifaceted and touristic neighborhood, with rental opportunities with high returns, even in times of crisis. Despite the regulations imposed by the Rental Law, now repealed by the current Government, investors found in temporary rentals a way to obtain significant profits, maintaining this sector of the City as a vital option for real estate investment.
Brian Levi , from Century 21 Levi, said that “Palermo attracts home buyers because it is the neighborhood of choice for young people thanks to its public transportation, shopping areas, restaurants and bars that combine modernity and tradition in one place. It occupies the place previously held by Recoleta as the most desired neighborhood for young people and tourists.”
Other neighbourhoods in CABA that are ranked at the top of the searches are Recoleta (9%), Belgrano (8%) and Núñez (4%). Vega said: “In Recoleta and Belgrano, the investment is much less risky: they are designed with projection, basic care in urban planning, nearby transport and dynamic streets. It is most likely that the price of living there will not vary too much and demand will remain.”
In numbers
According to Properati, the average value per square meter for sale in CABA ranges from USD $2,249 for used and brand new apartments.Prices per m2 in CABA registered a general depreciation. However, Palermo stood out as the neighborhood that suffered the least from this fall (its value per m2 is USD 3,320 and is only surpassed by Puerto Madero with an average of USD 5,395), with a decrease that oscillated around 25%, while in other neighborhoods the decrease reached up to 40% on average. “Palermo is recovering faster than other areas, stabilizing its prices and showing a notable resilience in the real estate market,” the report explained.
Furthermore, according to Properati, demand is also distributed among neighborhoods with a more affordable average price per square meter, such as Almagro, Caballito, Villa Urquiza and Villa Crespo, which together account for more than 20% of total searches in CABA.
Flores and Balvanera, between the west and south of the city, also stand out and account for 7% of the inquiries, with values around USD 1,800 per m2.
Vega commented: “They have a profile of developing areas. Buying there implies a lower price, but more risk because the future projection, for it to be profitable, depends on several factors such as security and urban infrastructure.”
The neighborhoods with the lowest percentage of searches are evenly distributed throughout the city, capturing between 1% and 3% of queries (among them Parque Chacabuco, La Boca, Lugano, Parque Patricios or Agronomía).
Land of Buenos Aires
As far as the GBA is concerned, among the districts surrounding CABA that are positioned among the most sought after, Vicente López continues to be the leader with 10% of the searches. “It is the district closest to Núñez, Belgrano and Palermo, three of the most expensive neighborhoods in CABA, and hundreds of properties, both new and used, take advantage of the privileged view of the river,” said Vega.Two exceptions are Tigre and La Plata, each accounting for 8% of searches. According to the report, “they already enjoy an established urban position. They have grown in various ways to become residential, commercial and employment hubs.”
Azcuénaga and Roca, in Vicente López, the most sought-after place in the GBA to buy apartments
The study also highlights that the remaining 38% of searches are distributed between districts of Greater Buenos Aires (GBA) West and South, such as La Matanza, Morón and Avellaneda.
Vega added: “Average prices in these areas are around USD 1,600 per m2, with different profiles of buyers looking for homes for both investment and personal use.”
What to keep in mind
As a final recommendation for those considering buying a property, the sector advises defining what they are looking for in a home. It is common to want to fulfill everyone's wishes, but budget can often be a limitation. Some people choose to buy smaller apartments in buildings with several amenities, while others prefer to invest more in the size of the unit.“The key advice is to make a list prioritizing from the most important to the least essential. It is essential that the location is always among the three most decisive factors. In times of crisis, the location is what best maintains its value and resistance in the market,” Levi concluded.
www.buysellba.com
