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Chacarita: why it is the neighborhood chosen among the coolest in the world and how much the properties cost - La Nacion Propiedades
Source:
www.lanacion.com.ar
September 26, 2024
The prestigious British magazine Time Out chose the 50 coolest neighborhoods in the world and Chacarita is in 23rd place; it rose 11 places compared to the previous ranking where it was in 34th place.
Obrador, on the corner of Charlone and Santos Dumont, one of the most characteristic bars in ChacaritaManuel Cascallar
Every year, Time Out magazine compiles its annual ranking of the coolest neighbourhoods in the world. Chacarita was ranked 34th in 2022 and this year it moved up 11 places to 23rd place.
An important fact is that it was the only Argentine neighborhood . The first place went to Notre Dame du Mont (Marseille, France) and Mers Sultán (Casablanca, Morocco) in second place.
The ranking seeks to recognize the most unique and exciting corners of the world's cities, and all their peculiarities. "They are places that reflect the best of their cities: their culture, community spirit, nightlife, food and drink, all condensed into a vibrant and walkable district," the article explains. A definition that perhaps explains why the gastronomic movement of the Buenos Aires neighborhood was key.
A bakery supplies store Javier Picerno
The British magazine notes that although the neighborhood was once “known as the younger, lesser-known brother of neighboring Palermo, the largest and busiest neighborhood in the city, Chacarita is today a destination in its own right.”
The murals painted on the exterior wall of the cemetery, on Jorge Newbery Avenue and Rodney Passage Alfieri Mauro - The Nation
Indeed, Palermo and its other neighbor Colegiales have been blurring their boundaries and generating a spillover effect on other neighborhoods, such as Chacarita. One of the areas where the three borders intersect has been baptized by some as Chacalermogiales, a confluence in which its boundaries are erased to integrate and form an icon of Buenos Aires life. “Chacharita has recently enjoyed the contagion of its neighbors; if you are close to areas with good real estate value, you are more likely to receive influence or positive spillover from others,” shares José Rozados, director of Reporte Inmobiliario.
The transformation and growth of Chacarita accelerated from 2011 , when the creation of the Audiovisual District was approved, which includes Paternal, Colegiales, Chacarita and Villa Ortúzar, which led to the arrival of companies in that industry and set the wheels turning: new businesses and housing projects landed.
This wave, which is now expanding towards Chacarita and Colegiales, had its initial kick-off with the elevation of the San Martín railway line. These changes blurred the boundaries of the neighborhoods and encouraged the progressive advance of new constructions.
The most daring developers saw a major change coming and decided to invest in the area. For example, the investment made by the developer InArch, the company that is building a US$15 million project where Arévalo, Dorrego Avenue and Córdoba meet : “Chacalermogiales is a place with great potential in the city of Buenos Aires, which has evolved rapidly, offering a balance between modern urban life and a quieter neighborhood environment ,” shares Anabela Santos, director of the developer, and adds: “People seek out this area mainly for its strategic location, which combines proximity to the Audiovisual District and the main gastronomic and cultural centers of the city.”
InArch is moving forward with the construction of Nodo Dorrego, a nine-story building on Arévalo and Córdoba, with two levels for amenities, which will be completed in December 2026. “It is a project with studio apartments from 34 m² and a ticket that starts at US$90,780. It will also have one bedroom with prices between US$143,663 and US$205,338. While the two-bedroom apartments have an approximate ticket price of US$310,650. Finally, the three-bedroom apartments are sold for a ticket price between US$379,717 and US$427,717,” details the developer.
“Those who previously looked to Palermo Hollywood as a cool place to live are now looking into other areas that are the natural overflow of that neighborhood,” shares Agustín Walger, director of Lepore Properties, the real estate agency that sells another of the projects being built on one of those five corners. The broker explains that this is a phenomenon that has been occurring for some time in other neighborhoods: “Villa Urquiza has been pushing towards Chacarita or Belgrano towards Colegiales, all of them making ventures that aim to maintain continuity in the quality of construction.”
The project that Walger is marketing in this area is Dorrego Place, a building located in Chacalermogiales that will have 11 floors and is expected to be ready by February 2026. It will have a total of 38 units, ranging from 33 m² studios for a ticket starting at US$82,000 in the sales pool, to one-bedroom apartments that start at 45 m² and reach 53 m² for a ticket starting at US$105,000, also in the sales pool. In addition, it will have a 150 m² commercial ground floor and two top floors with amenities.
“The price per m² is US$2,350, although we estimate that due to the layout, project, product, ticket and area it can be revalued to today's market to US$2,800/2,900,” says Walger, pointing out that he promises a 5% to 6% return for those who buy it to turn it into rent. The revealing fact is that, a few blocks away, there are projects being built in the heart of Palermo Hollywood and that are offered from the ground up at US$3,000/m². In short, it is a difference of more than 20%.
All this has led to the fact that where once there were many mechanics' workshops, today bars, restaurants, vermouth bars and cafes, designer clothing stores, bookstores and barbershops flourish. Bicycles dominate the scene, and in the squares and on the sidewalks there is a young and cool air among the classic murals painted on the facades. Without a doubt, it is one of the areas of Buenos Aires that has been most transformed.
The imposing building of Banco Galicia was a strong bet by the entity in the Chacarita neighborhoodGerardo Viercovich - THE NATION
Anchoita, a neighborhood favorite, has a waiting list for reservations
The British publication highlights that its gastronomic centre has gained great popularity, especially around Avenida Jorge Newbery . They underline the presence of several attractions that attract attention such as the “neo-pulpería” Abreboca , the Jungla Café and Plantas , the contemporary jewels of Nadine Zlotogora and Falena , a closed-door bookstore where you can accompany a reading with a wine or a coffee on its patio. They also suggest the Argentine country kitchen of Abreboca, ApuNena for Asian tapas, Na Num , recommended by Michelin, for non-traditional Korean food. Finally, they encourage a visit to El Galpón de Guevara , to enjoy an independent theatre performance.
“It is always worth attending one of the performances and parties held at the C Complejo Art Media cultural centre,” says the Time Out article
When asked why real estate agents are focusing on the area, Rozados answers that it is because “ there is very good connectivity, from the avenues and corridors that connect very well with the entire city and, above all, a supply of land, of large lots, at a price that is considered reasonable within a neighborhood that has commercial attraction for sale.” The expert assures that, in addition, it has lower land incidence values than its neighbors, “it is between 30/40% below Palermo, Colegiales and Belgrano.”
The neighborhood defends a price per square meter for sale that was US$2,512 in August, according to data from Zonaprop. This is a price almost 22% below that of its neighbor Palermo. Meanwhile, rents in this award-winning neighborhood were $520,274 in August.
However, Rozados explains that it is not a homogeneous neighborhood, since, although there are places that have generated a busy gastronomic hub, "there are sectors such as the Chacarita cemetery area or Avenida Warnes, which are far from being considered cool , " explains the director of Reporte Inmobiliario.
Another strong point is its connectivity and access. “ It is close to the northern corridor, and its growing appeal is due in part to improvements in infrastructure and connectivity , which has sparked considerable interest among developers and buyers,” adds Santos. He is referring to the fact that three years ago the bridge on Juan B. Justo Avenue was removed, which flew over the Córdoba corridor and, in some way, isolated the two Palermos: Soho from Hollywood. Today both are integrated, even with Chacarita. This benefit “attracted the attention of a young public, couples who are buying their first home or who have a small child, who are looking for two- and three-room units,” says Walger.
The interest in the microzone is also reflected in the prices. Walger explains that a well-located lot in Palermo costs between US$700 and US$900/m², while in Chacarita they start at US$500 and can reach US$700/m². “This variation in land is large, because building costs the same everywhere, the big difference is made by the value of the lot,” he concludes.
Chacarita, the only Argentine neighborhood awarded for being one of the coolestgoogle Earth
www.buysellba.com
Source:
Chacarita: por qué es el barrio elegido entre los más cool del mundo y cuánto cuestan las propiedades
La prestigiosa revista británica Time Out eligió los 50 barrios más cool del mundo y Chacarita está en el puesto 23; subió 11 lugares con respecto al ranking anterior donde figuraba en el 34
www.lanacion.com.ar
September 26, 2024
The prestigious British magazine Time Out chose the 50 coolest neighborhoods in the world and Chacarita is in 23rd place; it rose 11 places compared to the previous ranking where it was in 34th place.
Obrador, on the corner of Charlone and Santos Dumont, one of the most characteristic bars in ChacaritaManuel Cascallar
Every year, Time Out magazine compiles its annual ranking of the coolest neighbourhoods in the world. Chacarita was ranked 34th in 2022 and this year it moved up 11 places to 23rd place.
An important fact is that it was the only Argentine neighborhood . The first place went to Notre Dame du Mont (Marseille, France) and Mers Sultán (Casablanca, Morocco) in second place.
The ranking seeks to recognize the most unique and exciting corners of the world's cities, and all their peculiarities. "They are places that reflect the best of their cities: their culture, community spirit, nightlife, food and drink, all condensed into a vibrant and walkable district," the article explains. A definition that perhaps explains why the gastronomic movement of the Buenos Aires neighborhood was key.
A bakery supplies store Javier Picerno
The transformation of Chacarita
Those who arrive in the city may not know that many of the neighborhoods that are now full of businesses, cultural events and gastronomic offerings once had a different character and public. For many who frequent these places today, it is difficult to imagine this. The oldest residents, on the other hand, know that the picture was not always like this. They are witnesses of the transformation and saw, for example, the birth of the latest fashionable brewery where a workshop once operated or the arrival of an imposing residential building in the same place where there was a factory .The British magazine notes that although the neighborhood was once “known as the younger, lesser-known brother of neighboring Palermo, the largest and busiest neighborhood in the city, Chacarita is today a destination in its own right.”
The murals painted on the exterior wall of the cemetery, on Jorge Newbery Avenue and Rodney Passage Alfieri Mauro - The Nation
Indeed, Palermo and its other neighbor Colegiales have been blurring their boundaries and generating a spillover effect on other neighborhoods, such as Chacarita. One of the areas where the three borders intersect has been baptized by some as Chacalermogiales, a confluence in which its boundaries are erased to integrate and form an icon of Buenos Aires life. “Chacharita has recently enjoyed the contagion of its neighbors; if you are close to areas with good real estate value, you are more likely to receive influence or positive spillover from others,” shares José Rozados, director of Reporte Inmobiliario.
The transformation and growth of Chacarita accelerated from 2011 , when the creation of the Audiovisual District was approved, which includes Paternal, Colegiales, Chacarita and Villa Ortúzar, which led to the arrival of companies in that industry and set the wheels turning: new businesses and housing projects landed.
This wave, which is now expanding towards Chacarita and Colegiales, had its initial kick-off with the elevation of the San Martín railway line. These changes blurred the boundaries of the neighborhoods and encouraged the progressive advance of new constructions.
The most daring developers saw a major change coming and decided to invest in the area. For example, the investment made by the developer InArch, the company that is building a US$15 million project where Arévalo, Dorrego Avenue and Córdoba meet : “Chacalermogiales is a place with great potential in the city of Buenos Aires, which has evolved rapidly, offering a balance between modern urban life and a quieter neighborhood environment ,” shares Anabela Santos, director of the developer, and adds: “People seek out this area mainly for its strategic location, which combines proximity to the Audiovisual District and the main gastronomic and cultural centers of the city.”
InArch is moving forward with the construction of Nodo Dorrego, a nine-story building on Arévalo and Córdoba, with two levels for amenities, which will be completed in December 2026. “It is a project with studio apartments from 34 m² and a ticket that starts at US$90,780. It will also have one bedroom with prices between US$143,663 and US$205,338. While the two-bedroom apartments have an approximate ticket price of US$310,650. Finally, the three-bedroom apartments are sold for a ticket price between US$379,717 and US$427,717,” details the developer.
“Those who previously looked to Palermo Hollywood as a cool place to live are now looking into other areas that are the natural overflow of that neighborhood,” shares Agustín Walger, director of Lepore Properties, the real estate agency that sells another of the projects being built on one of those five corners. The broker explains that this is a phenomenon that has been occurring for some time in other neighborhoods: “Villa Urquiza has been pushing towards Chacarita or Belgrano towards Colegiales, all of them making ventures that aim to maintain continuity in the quality of construction.”
The project that Walger is marketing in this area is Dorrego Place, a building located in Chacalermogiales that will have 11 floors and is expected to be ready by February 2026. It will have a total of 38 units, ranging from 33 m² studios for a ticket starting at US$82,000 in the sales pool, to one-bedroom apartments that start at 45 m² and reach 53 m² for a ticket starting at US$105,000, also in the sales pool. In addition, it will have a 150 m² commercial ground floor and two top floors with amenities.
“The price per m² is US$2,350, although we estimate that due to the layout, project, product, ticket and area it can be revalued to today's market to US$2,800/2,900,” says Walger, pointing out that he promises a 5% to 6% return for those who buy it to turn it into rent. The revealing fact is that, a few blocks away, there are projects being built in the heart of Palermo Hollywood and that are offered from the ground up at US$3,000/m². In short, it is a difference of more than 20%.
All this has led to the fact that where once there were many mechanics' workshops, today bars, restaurants, vermouth bars and cafes, designer clothing stores, bookstores and barbershops flourish. Bicycles dominate the scene, and in the squares and on the sidewalks there is a young and cool air among the classic murals painted on the facades. Without a doubt, it is one of the areas of Buenos Aires that has been most transformed.
The imposing building of Banco Galicia was a strong bet by the entity in the Chacarita neighborhoodGerardo Viercovich - THE NATION
Anchoita, a neighborhood favorite, has a waiting list for reservations
The British publication highlights that its gastronomic centre has gained great popularity, especially around Avenida Jorge Newbery . They underline the presence of several attractions that attract attention such as the “neo-pulpería” Abreboca , the Jungla Café and Plantas , the contemporary jewels of Nadine Zlotogora and Falena , a closed-door bookstore where you can accompany a reading with a wine or a coffee on its patio. They also suggest the Argentine country kitchen of Abreboca, ApuNena for Asian tapas, Na Num , recommended by Michelin, for non-traditional Korean food. Finally, they encourage a visit to El Galpón de Guevara , to enjoy an independent theatre performance.
“It is always worth attending one of the performances and parties held at the C Complejo Art Media cultural centre,” says the Time Out article
Why developers choose Chacarita to build
Chacarita has become a neighborhood that has sparked the interest of developers, especially in avenues such as Federico Lacroze, some areas of Álvarez Thomas and Córdoba, which are the ones that allow for the most high-rise buildings.When asked why real estate agents are focusing on the area, Rozados answers that it is because “ there is very good connectivity, from the avenues and corridors that connect very well with the entire city and, above all, a supply of land, of large lots, at a price that is considered reasonable within a neighborhood that has commercial attraction for sale.” The expert assures that, in addition, it has lower land incidence values than its neighbors, “it is between 30/40% below Palermo, Colegiales and Belgrano.”
The neighborhood defends a price per square meter for sale that was US$2,512 in August, according to data from Zonaprop. This is a price almost 22% below that of its neighbor Palermo. Meanwhile, rents in this award-winning neighborhood were $520,274 in August.
However, Rozados explains that it is not a homogeneous neighborhood, since, although there are places that have generated a busy gastronomic hub, "there are sectors such as the Chacarita cemetery area or Avenida Warnes, which are far from being considered cool , " explains the director of Reporte Inmobiliario.
Another strong point is its connectivity and access. “ It is close to the northern corridor, and its growing appeal is due in part to improvements in infrastructure and connectivity , which has sparked considerable interest among developers and buyers,” adds Santos. He is referring to the fact that three years ago the bridge on Juan B. Justo Avenue was removed, which flew over the Córdoba corridor and, in some way, isolated the two Palermos: Soho from Hollywood. Today both are integrated, even with Chacarita. This benefit “attracted the attention of a young public, couples who are buying their first home or who have a small child, who are looking for two- and three-room units,” says Walger.
The interest in the microzone is also reflected in the prices. Walger explains that a well-located lot in Palermo costs between US$700 and US$900/m², while in Chacarita they start at US$500 and can reach US$700/m². “This variation in land is large, because building costs the same everywhere, the big difference is made by the value of the lot,” he concludes.
Chacarita, the only Argentine neighborhood awarded for being one of the coolestgoogle Earth
www.buysellba.com
