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How the exclusive “secret market” for luxury properties in Buenos Aires that cost millions of dollars works - La Nacion Propiedades
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Cómo opera el exclusivo “mercado secreto” de propiedades de lujo en Buenos Aires que cuestan millones de dólares
Se venden de forma discreta, sin publicarse en sitios web ni redes sociales; las transacciones se realizan a través de reuniones privadas y con un proceso de selección riguroso para asegurar la confidencialidad
www.lanacion.com.ar
September 1st, 2024
They are sold discreetly, without being published on websites or social networks; transactions are carried out through private meetings and with a rigorous selection process to ensure confidentiality.
By Nicholas Bal
Operations are handled in a discreet and personalized manner, with a different circuit and dynamic.
Unlike conventional real estate, there are properties valued at millions of dollars, located in prime areas , which are often outside the traditional real estate circuit. Many of these properties, which can take generations to become available, are not advertised on web portals, social networks, or on billboards in shop windows , although the latter are still used.
In the Buenos Aires luxury real estate market , it is said that personalization and exclusivity have become its leitmotiv , a central theme that guides all decisions and strategies, focused on offering unique and personalized experiences.
Reservations for these properties are aimed at an exclusive circle of buyers, and transactions are managed in a discreet and personalized manner.Gentleness
Due to their uniqueness and high value, reservations for these properties are targeted at a very select circle of buyers. Transactions are handled in a discreet and personalized manner, with a different circuit and dynamic. According to Francisco Bosch, founding partner of Miranda Bosch Real Estate & Art, potential buyers must go through a rigorous verification process , designed to ensure that only qualified candidates have access to these exclusive opportunities . “ In principle, transactions in the premium market are carried out through private meetings and discreet visits . Transactions are handled confidentially , protecting the privacy of all parties involved,” he added.
To do this, it is essential to conduct a face-to-face interview with the candidate. Mateo García, commercial director at the Toribio Achával Residential Sector, emphasized that knowing their environment, work and relationships is vital to determine whether the interested party qualifies to access that information. This process, according to García, also avoids 'commercial tourism', that is, visits from people who only want to see the property without any real intention of buying .
Strict confidentiality agreements are established and rigorous security protocols are implemented to handle all sensitive information.Gentleness
“Those who buy or sell properties in this segment do not make decisions overnight. They usually go to real estate agencies with experience in this market, who are solid in the legal and professional aspects throughout the entire buying and selling process . However, the most important thing is that they know how to protect the anonymity and privacy of their clients,” said Martín Pinus , founder and director of Martín Pinus Real Estate .
“As buyers of luxury products, this is a demanding public that knows exactly what it is looking for. They may even ask us about a specific building or property that, if it exists on the market, will be offline,” revealed Pinus. He also indicated that, in these cases, buyers expect that, if the property is not for sale, a process can be initiated that allows them to complete their order , using the pre-existing contacts that the real estate agency has with the current owners.
Potential applicants must go through a rigorous verification process, designed to ensure that only qualified candidates have access to these exclusive opportunities.
Contrary to what may be in the collective imagination about the tension existing in operations of these values, in reality " they tend to be more relaxed processes , in which, probably, the parties know each other or are referenced by third parties in common, and make the moment of meeting a pleasant time," the expert confides.
Contrary to what may be in the collective imagination about the tension existing in operations of these values, in reality "they tend to be more relaxed processes, in which, probably, the parties know each other or are referenced by third parties in common.Gentleness
Confidentiality in the real estate market
When the seller wants to know who he will open the doors of his house to, it is possible that, by revealing his identity at the right time, he will discover that he already knows the buyer, the company he works for or that they are connected by common third parties. “If none of these conditions are met, the trust placed in the real estate agency that intervenes in the process plays a fundamental role ,” said Martín Pinus.Naturally, strict confidentiality agreements are in place and rigorous security protocols are implemented to handle all sensitive information . Bosch pointed out that transactions are carried out in a controlled and private environment, with access restricted only to the directly involved participants. Furthermore, it underlined that all communication and documentation is protected by advanced measures to prevent any leaks.
When the seller wants to know who he will open the doors of his house to, it is possible that, by revealing his identity, he discovers that he already knows the buyer, the company he works for, or that they are connected by common third parties.Gentleness
The hidden luxury market
Most of the experts consulted do not believe that there is a growth trend in this real estate segment. “There have always been exclusive properties and clients. But it is true that information is abundant today and access is instantaneous, and that there are also certain profiles that prefer to work with greater discretion,” said Mateo García , commercial director in the Residential Sector of Toribio Achával.“Although it is a niche with a smaller supply compared to standard units, in recent years there has been a growth in high-end developments in expanding areas of the city of Buenos Aires, such as Bajo Belgrano, some areas of Núñez and Palermo, and Puerto Madero ; however, this growth is not enough to cover the growing demand,” said Pinus. Therefore, the shortage condition remains constant.
Transactions are carried out in a controlled and private environment, with access restricted only to the participants directly involved.Gabriela Landau
Luxury properties inside
Luxury properties in Buenos Aires stand out not only for their location, history and value , but also for being true architectural gems. Their exceptional design, the quality of the materials used and the meticulous attention to detail in their construction set them apart. Francisco Bosch noted that these properties often feature unique features, such as panoramic views, spacious interiors, high-end finishes, advanced technology and exclusive amenities.
Luxury properties for sale and not listed are distinguished by their exceptional features, including panoramic views, spacious interiors, luxury finishes, cutting-edge technology and exclusive amenities.Gentleness
In general, these properties are located in classic old buildings and are characterized by being spacious homes, designed for social and family gatherings. Martín Pinus explained that the materials used in the construction are usually high-end and imported in most cases, with meticulous attention to detail in the finishes. The views from their windows are dazzling.
In contrast, today's luxury developments offer even more expansive views, with floor-to-ceiling windows, and can incorporate advanced technology that makes the property "smart ," adapting spaces to the preferences of its inhabitants or the time of day. In addition, these developments include a variety of sophisticated amenities, such as indoor pools, solariums, spas, microcinemas, wine cellars, and yoga or pilates rooms. A distinctive aspect is that individual units often have gardens or terraces with private pools , as well as garages with direct access to the apartment or even private elevators, which guarantee absolute privacy.
Personalization and exclusivity are the leitmotiv of the luxury property market in Buenos AiresGentleness
Privacy is sought in all its dimensions, from exclusive access to the layout of the rooms within the unit, offering en-suite bedrooms and separate bathrooms or showers for the master bedroom.
The most valued areas
“The neighborhoods where these properties are located can be very diverse, covering both historical and traditional areas such as Recoleta, Retiro and Palermo Chico, as well as modern neighborhoods such as Puerto Madero , ” said Mateo García. In line with the statements of the commercial director of Toribio Achával, Francisco Bosch clarified that these areas are highly valued for their central location, their proximity to first-class services and their high-quality residential environment.
The view in front of the National Library from one of the properties on the luxury marketGentleness
According to Pinus, there are also penthouses and exclusive houses whose owners prefer to keep secret , located in areas such as Belgrano, Núñez and Palermo , or classic French-style properties from the early 20th century in the Plaza San Martín area.
Prices for these properties vary considerably, starting at around US$2 million and reaching up to US$5 million or even more in exceptional cases. Prices generally start at around US$2,800 per square meter and can be much higher in particularly sought-after locations. On average, these properties sell for 30% above the market value of the area , not counting their state of repair and maintenance.
These properties are usually acquired by businessmen and public figures with high purchasing power, with foreign buyers being less frequent.Gentleness
Who buys these properties?
They are mainly purchased by businessmen and public figures with high purchasing power, with foreign buyers being less frequent . García pointed out that these buyers tend to value the property beyond the price per square meter, showing a romantic appreciation for these homes.www.buysellba.com
