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Buying on a high floor: When a good view justifies the price of the apartment - La Nacion Propiedades
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Un especialista revela el dato que tenés que conocer para no equivocarte al elegir departamento en un piso alto
Si querés comprar un departamento con buena vista y en pisos altos, hay un dato que tenés que conocer antes de tomar la decisión
www.lanacion.com.ar
June 16, 2024
If you want to buy an apartment with a good view and on high floors, there is one thing you need to know before making the decision.
By Maria Josefina Lanzi
An apartment with views of the Río de la Plata and the Botanical Garden that is located on the 13th floor
Good views in the apartments are something required by many. The possibility of resting while looking at the horizon, the greenery or even the water can be a highly sought after aspect when purchasing a property. But the big question that arises is how much the price of a unit can change when adding this variable to the equation.
“ In general terms, high floors are the most desired apartments because they offer advantages related, mainly, to quality of life ,” says Fabián Catanese, associate producer at Martin Pinus Real Estate. It must be taken into account that, among the notable benefits of higher floors , is noise reduction. In addition, they generally have better views and in some cases panoramic views. They also tend to have a greater incidence of natural light.
Apartments with good views are quoted at a price much higher than those that do not have those attributes
However, this visual breadth also has a “b side”, since, as the floors go up, the price escalates and a much higher ticket can be reached. “Given that it is one of the most sought-after aspects in this type of product, it becomes another factor to take into account at the time of appraisal,” says Jesica Pacanowski, broker at Martín Pinus Real Estate, and adds: “ In some cases , panoramic views of green lungs or the river, could increase the base price of the property by 20% to 30% , compared to a similar product without views.”
Soledad Balayan, owner of Maure Inmobiliaria, shares this view and explains that it is not easy to secure a specific percentage, but that “ a good view of the river or the polo can be worth 30% more than something similar without a view.”
According to architect Daniel Obetko, premium residential manager at Interwin, views are decisive in the value of properties here and around the world. It is estimated that the price of an apartment increases between 1% and 1.5% as you go up the floor, due to the increase in luminosity and the decrease in noise. “Naturally, there can be higher increments, if any particular visual obstacle is overcome,” adds Obetko.
A particular case: “It looks like Central Park”
In one of the most coveted neighborhoods of Buenos Aires, an apartment is located that has an exclusive view of the Botanical Garden and the La Plata River. The green landscape evokes Central Park , the iconic urban park located in the heart of Manhattan, New York, a view that in this case raises the price of the property to a considerable number.
The apartment has views of the Botanical Garden and the Río de la Plata
The interior of the apartment located in Palermo
With a total of 235 m² and located on the top floor of a building on 2400 Armenia Street, the penthouse is valued at US$750,000 , a higher price than the other apartments in the development. It is located in a building with 34 residential units; 33 of them are studio apartments of between 45 and 50 m², valued between approximately US$160,000 and US$210,000, of which five remain to be sold. All the apartments that face Santa Fe have a view of the Botanical Garden, although the open view of the river can be seen from the tenth floor.
The apartment is a loft that unfolds over Armenia Street and Santa Fe Avenue, with large windows that allow in natural light. However, the curious fact is that, despite having 235 square meters -of which 125 are covered, almost the same as the uncovered ones-, it is a two-room apartment because it only has one bedroom on the upper floor. In addition, a balcony borders the entire apartment and provides panoramic views.
Now, these typologies pose a dilemma: is it worth investing in this type of units? Martín Pinus, founder and Director of Martín Pinus Real Estate, responds to possible dilemmas:
When does a good view justify the price of an apartment?
Pinus believes that panoramic views justify the appreciation of the square meter of an apartment in most cases , given that “it provides the property with significant value in terms of quality of life and connection with the environment.” He explains that the value of the property is often related to market demand: “If for a certain segment of the population, vision constitutes an exclusive variable and one is willing to pay more to have it, then it is natural that it contributes to raise the price per square meter of properties that comply with this aspect.”
When considering whether it is a good investment, it is advisable to think about the personal needs of the buyer and whether it is a unique and impressive view of emblematic places in the city, and also if the location of the building is privileged. Furthermore, the founder of Martín Pinus Real Estate explains that these types of units become a good long-term investment, since “ the apartments from which you can enjoy incredible views, usually maintain or increase their value over time” .
Is it worth sacrificing covered meters for a good view? What does it depend on?
Pinus explains that the decision to sacrifice square meters for an open view, of the city, the river or a green lung, will depend mainly on two variables: the budget, (since, as mentioned before, the price of properties with good views generally have a higher price per square meter) and personal circumstances, according to what the person looking for their next home ultimately needs, and what they value to improve their quality of life.
“There are clients for whom a property with a spectacular view is an exclusive factor and they do not visit apartments that meet all their search criteria if they do not have visual width to the outside,” details the broker .
The apartment faces Armenia streets and Santa Fe Avenue
How do I know that the property will not depreciate in value?
“Properties become devalued over time, especially in very new buildings. However, there are some that are old and do not lose their value ,” says Pinus and explains that this is the case of the so-called iconic ones, those that already have a brand in the market or those that, due to their quality and location, or because they are status symbol, they do not lose relevance. “In this category are, without a doubt, the towers built on land that is increasingly scarce, especially those on the main avenues of Buenos Aires,” concludes the broker .
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