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From Palermo to Barrio Parque: The 7 neighborhoods where the best PHs, the most exclusive and the most economical, are sold - La Nacion Propiedades
December 27, 2023
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De Palermo a Barrio Parque: los 7 barrios donde se venden los mejores PHs, los más exclusivos y los más económicos
Las oportunidades de la tipología más buscada en Palermo, Boedo, Recoleta, Almagro, Villa Urquiza, Barrio Norte y hasta el único disponible en Barrio Parque
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The opportunities of the most sought-after typology in Palermo, Boedo, Recoleta, Almagro, Villa Urquiza, Barrio Norte and even the only one available in Barrio Parque
By Candelaria Reinoso Taccone
Outdoor space, spacious rooms, no bills for utilities (gas, electricity etc.) and with low expenses, the PHs are the ideal choice for young people and couples, like this PH in Montevideo at 100 in Recoleta that sells for US$500,000
In the city of Buenos Aires, the “PH” or Horizontal Property are part of the tangible testimony of the rich architectural and cultural history that defines the city. These distinctively styled buildings have seen a resurgence in demand in recent years, revealing a fascinating diversity in terms of location and price.
The pandemic played a crucial role in this rebirth, highlighting one of the greatest benefits inherent to these typologies: their outdoor spaces, which range from large terraces to internal gardens and patios.
This PH is offered for sale in the Palermo Soho neighborhood, in Malabia and Niceto Vega
Although some neighborhoods stand out for hosting a greater concentration of PHs, the truth is that these are distributed throughout the entire area of Buenos Aires. Variety is the norm, and depending on the location, you can discover a rich diversity that defines the essence of each neighborhood.
“When Buenos Aires began to take shape, the urban structure was predominantly made up of PHs and houses; However, over time, the construction of high-rise buildings began to displace this type of housing,” explains Ignacio Mel, Director of Mel Propiedades. Consequently, areas of the city with higher population density tend to offer fewer PH options.
In Villa Urquiza, a renovated colonial-type PH is available that includes a living room, an impressive kitchen and natural lighting through a large window.
“Neighborhoods such as Monserrat, San Telmo, and Boedo , as well as low-density areas but with significant demand such as Colegiales, Coghlan, and Chacarita , are home to the majority of these properties. In Palermo, given its size, the availability of PHs varies depending on the specific microzone of the neighborhood,” adds Mel.
A two-room apartment can reach US$80,000 in San Telmo, while a townhouse of more than 100 square meters in Belgrano can have a value of US$500,000. However, despite this variety of prices, it is important to note that, when comparing the value per square meter of a townhouse with that of an apartment in the same area, generally the former turns out to be more affordable.
In favor of PHs
“They have their pros and cons; One of the most positive aspects is the exemption of common expenses and the low bills for utilities (gas, electricity etc.) , a significant financial advantage for the owners,” says Tomás Montoreano, director of Evoluer Real Estate. In addition to the outdoor amenities, Montoreano highlights the unique charm reminiscent of old homes, with high ceilings, hardwood floors, molding details and in some cases fireplaces. “The quality of construction is notable, and with luck, high-class PHs can be discovered,” adds the real estate agent.An additional benefit is the reduced number of neighbors, since condominium housing provides the feeling of living in a single-family home . Furthermore, its versatility in use surpasses that of traditional departments. According to the expert, in general, they are of mixed uses, although their main focus is residential, there are numerous cases in which they are used for both housing and work activities. “In addition, they tend to radiate a somewhat bohemian atmosphere,” shares Montoreano. With high ceilings and large windows, these spaces are flooded with natural light, and their generous dimensions offer more spacious environments.
However, these homes are not suitable for everyone, their ideal audience being those aimed at young people looking for outdoor spaces, reduced maintenance costs and a private home style.
In Boedo, a neighborhood that concentrates the supply of PHs, a unit with a terrace, balcony and patio is for sale.
What are the disadvantages
What can turn away potential buyers is that some have the disadvantage of having stairs; given that many townhouses are not located on the ground floor or have rooms or terraces on the first floor. As many of them were originally old houses, they lack an elevator, sometimes limiting their accessibility. Furthermore, the absence of garages is a common characteristic. “By not having a consortium, it is imperative to pay careful attention to the general maintenance status of the construction. Even when renovating the entire PH, it is crucial to be alert to the situation of the other units, since these can influence the experience and quality of life,” warns Montoreano.Another peculiarity is that the plans are usually quite atypical. Sometimes, PHs have unconventional layouts, such as bedrooms that open to galleries where it is necessary to climb a second staircase to access the terrace. Or even the master suite that overlooks a patio independent of the rest of the house.
Where to find PHs and their prices
The older neighborhoods offer greater opportunities to discover PHs, as they usually house old houses that adapt to this typology. In a large area like Palermo , the possibilities multiply, while San Telmo , with its rich history, also stands as a favorable place to find this type of home. La Boca , known for its large number of PHs, is especially attractive to foreigners.
In Barrio Parque, the only townhouse in the area with its own garden is for sale.
When it comes to value, it is not simply about the amount of square footage, but the quality of the floor plan design. “It is not comparable to go directly from the living room to a garden than to have to climb two flights of stairs to reach a terrace,” argues Montoreano.
The price is highly variable and its main determinant lies in the location and condition of the property. In neighborhoods where the presence of PHs is uncommon, such as Barrio Parque , where large houses predominate, the value can be considerably higher.
Park Neighborhood
An example of this is a 115 m² townhouse with its own 54 m² garden on 2900 Juan Mora Fernández Street, with a price of US$480,000, although it requires renovation.
Palermo Soho
On the other hand, in Palermo Soho , on Malabia and Niceto Vega streets, where the supply of PHs is more abundant, there is a property in the style of an old house from 1920, with 155 m² and 138 m² of terrace, for a value of US$440,000.
In Palermo Soho, in a 1919 house with carpentry, oak and pitch pine floors, moldings, high ceilings and original stained-glass windows, a 293 m2 PH is for sale.
North Quarter
In Barrio Norte , specifically in French and Laprida , a traditional and completely modernized area, there is a PH of 557 square meters available that requests US$520,000, which exemplifies the diversity of options in different areas and the direct influence of the neighborhood on the appraisal of these properties.
In Barrio Norte, a PH is sold on the upper floor with a large entrance hall and the reception area made up of two rooms at the front, connected to a large central room.
Boedo, Villa Urquiza, Almagro and Recoleta
Other concrete examples of the variety of typologies, areas and prices can be seen in neighborhoods such as Boedo , where a 140 square meter PH is sold on the first floor on 1300 La Plata Avenue for US$197,000.
While in the Villa Urquiza neighborhood on Obispo San Alberto at 2200, one of 106 m² is sold for US$219,000. In Almagro , on Peluffo Angel at 3900 , a smaller townhouse of 57 m² is for sale at US$129,000. If you look in more sought-after areas such as Recoleta , you can find a house-type townhouse on 100 Montevideo Street in an old building for US$500,000.
A “difficult figure”
Mateo García, residential director of Toribio Achával, comments: “Many of these PHs are in the process of renovation, and those that were renovated become highly sought-after architectural jewels, especially by foreign buyers.”
In Almagro, this house-type PH is for sale in an old building with openings typical of its time, high ceilings and pitch pine floors.
However, and despite the fact that this typology is distributed throughout the city, Mel explains that the high demand for PHs makes them relatively scarce, in addition to the fact that many are valued more for the land than for the construction itself, contributing to the fact that the Less densely populated areas have a greater number of these properties, as they do not compete with new constructions.
García also observes that the progress of consolidation in some neighborhoods could be affecting this type of product.
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