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Is it going up?: challenges, developments and projects of the real estate market, looking ahead to 2025 when it will go for its recovery - Infobae
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www.infobae.com
December 29, 2024
After overcoming five years of crisis, the second half of 2024 opened a favorable perspective for a new cycle of expansion, in a more stable macroeconomic context. Places, prices, axes and urban concepts in dance
By Jose Luis Cieri
A development underway on Paseo del Bajo, one of the most dynamic areas in CABA. Looking ahead, the outlook for 2025 is optimistic (Photo Courtesy: Consultatio)
The year that is ending presented, until the first half of the year, dynamics marked by imbalances inherited from previous economic and political cycles for the real estate sector, but it opened a favorable perspective for what is to come.
The change in expectations, the repeal of the Rental Law , the reintroduction of mortgage credit lines , the figure of divisible mortgages and money laundering, according to private analysts, present a different horizon.
These conditions, and the prospect of greater economic stability, anticipate a 2025 that, according to private projections, will leave behind five years of stagnation.
The worst five years of a prolonged crisis seem to have ended - even housing prices have stopped falling - and 2025 is expected to be a year of consolidation. A key fact is that, both in CABA and in the province of Buenos Aires, in the last two months there were record numbers of deeds (they grew 35% compared to 2023), while the rental situation - which was serious, due to a shortage of supply and a sharp rise in values - was extinguished with DNU 70, which culminated the Rental Law .
Ezequiel Leibaschoff , commercial director of GCH, highlighted that the return of mortgage loans played a crucial role, boosting demand, especially in CABA, and allowing the reactivation of home acquisition projects. This change significantly strengthened activity in the sector.”
The lessons learned during this period are varied, and it is crucial to adapt developments to new customer demands and market conditions.
The Innovation Park in Núñez, one of the places with the greatest projection and real estate development in CABA
Leibaschoff told Infobae that one of the main challenges was to focus the projects on concrete and tangible solutions, such as the flexibility of spaces and the quality of architectural design, located in strategic areas.
“Despite the increase in construction costs , developers have optimized processes and resources, ensuring the economic and operational viability of the projects. They have managed to efficiently manage costs and adjust sales prices to the new economic reality of the country,” said the specialist.
Challenges abounded in 2024, from higher-than-anticipated construction cost increases to exchange rate fluctuations that complicated the planning and execution of new developments.
Among the developments in the area is Aura Núñez, which offers different housing options with prices that vary: from USD 3,129 and from USD 3,518 per m2 for premium homes. Another project is Orión Parque, with an initial value of USD 3,500 per m2.
Leibaschoff commented: “We anticipate a gradual increase in property prices, supported by sustained demand from investors and end users.”
Orion Parque, one of the futuristic buildings that will soon begin construction (Photo Courtesy: Grupo GCH)
The focus will be on developing multifunctional projects that respond to current needs, and greater dynamism is expected for next year.
This company is moving forward with the development located in Escobar, also called Nordelta II, where a new shopping center and a service station are also planned.
Regarding the advantages and challenges of the year, Cerquetella highlighted: “We adapted to modern construction methods and advanced technologies in property management. These factors were key to differentiating the projects and attracting investors seeking long-term security and quality. However, we faced challenges related to construction costs and the need to adjust strategies to a fluctuating economic environment.”
In Puertos, those who live there enjoy water sports
Regarding the impact of economic measures such as anti-money laundering and mortgage lending, Cerquetella said: “These initiatives offer significant potential in the medium and long term, particularly in combination with more stable policies. They are essential to broaden access to premium and vertical developments.”
Regarding the evolution of real estate values and expectations for 2025, Cerquetella commented: “In 2024, real estate values in the premium segments showed stability and generated opportunities in developments such as Ports. For 2025, we anticipate a stabilization of prices, supported by a gradual economic recovery and an increase in demand for high-quality urban developments and vertical projects.”
The Paseo del Bajo and Huergo 475 render
Two years ago, the company opened Oceana Puerto Madero - with two-room units starting at USD 500,000 - and Huergo 475, a project under construction in Paseo del Bajo, one of the areas of Buenos Aires with the greatest real estate development.
Viviana Yacoub , architect and founder of Yacoub Real Estate & Developers, highlighted that, after reaching a historic low in prices, favorable macroeconomic conditions transformed the dynamics of the sector. “This change encouraged confidence and stimulated investment in the sector. It also allowed us to expand the structure, invest in technology and human resources, and acquire offices.”
Render of one of the developments underway in the provincial capital located on Avenida 60 and Calle 17
Financial stability, falling inflation, fiscal surplus, reduction of country risk and opening up to mortgage lending revitalized the market. “These factors, together with the government's decision to reduce investment in public works, allowed construction costs to be adjusted, thus promoting private investment,” said Yacoub.
Regarding the impact of mortgage loans and money laundering, Yacoub said that, although there was no boom in transactions as in 2017, these measures encouraged transparency and facilitated real estate transactions through bank payments. He predicts that the real impact of these policies will be evident in 2025.
“Currently in La Plata we are carrying out projects such as the KENT and Vetro buildings, with values that did not exceed USD 180,000 per unit,” said Yacoub.
Nicolás D'Odorico , development director of Pinamar SA, mentioned that the macroeconomic reorganization after the change of government was positive for the planning of the sector, although it also brought challenges, such as an increase in construction costs in dollars.
The Pinamar Norte area, one of the fastest growing in this part of the Atlantic Coast
"Although the local market has a high summer seasonality, it is not exempt from the macroeconomic trends that affect the rest of the country," he added.
As for the impact of mortgage loans, money laundering and other recent economic measures, D'Odorico said that in Pinamar there was no significant direct movement, but an indirect effect through the clients of developers who choose the area for their projects.
Access area to the Bosques neighborhood in Pinamar
Pinamar Norte and the new developments on Avenida Bunge stand out as growth areas. The average value per m2 in these areas reaches USD 3,000, while lots in Bosques start at USD 100,000, reflecting the continued attractiveness of these areas for investors and residents.
“We had notable launches in Nordelta, Puertos, Terralagos and Openn Pilar,” said Esteban Edelstein Pernice , partner at Castex. He explained that demand remained segmented, with a strong interest in properties that combine strategic location and amenities. This year left a key lesson in the resilience of the sector, where buyers are more selective and prioritize options that fit their needs.
Nordelta and its different neighborhoods always attract demand
Among the main advantages, the stability of certain segments and the interest in consolidated developments such as Nordelta and Puertos stood out, while the challenges were linked to the increase in construction costs.
Edelstein Pernice stressed that the focus on customized solutions and customer support made a key difference in the year-end balance sheet. This enabled the company to close deals even in a context of increasing competition.
The impact of money laundering was significant in boosting operations, especially in recent projects, which offered suitable options for this modality.
However, mortgage loans did not achieve the expected prominence and remain an emerging tool. For next year, the sector expects these measures to gain relevance and encourage more sustained growth.
“In terms of the evolution of values, consolidated projects experienced increases due to the decrease in available land and the increase in construction costs. For 2025, a continuation of this trend is expected, with a market that will favor high-quality suburban developments and strategic locations,” concluded Edelstein Pernice.
www.buysellba.com
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¿Se va para arriba?: desafíos, desarrollos y proyectos del mercado inmobiliario, de cara a un 2025 en que irá por su recuperación
Tras superar un lustro de crisis, la segunda mitad de 2024 abrió una perspectiva favorable a un nuevo ciclo de expansión, en un contexto macroeconómico más estable. Lugares, precios, ejes y conceptos urbanísticos en danza
www.infobae.com
December 29, 2024
After overcoming five years of crisis, the second half of 2024 opened a favorable perspective for a new cycle of expansion, in a more stable macroeconomic context. Places, prices, axes and urban concepts in dance
By Jose Luis Cieri
A development underway on Paseo del Bajo, one of the most dynamic areas in CABA. Looking ahead, the outlook for 2025 is optimistic (Photo Courtesy: Consultatio)
The year that is ending presented, until the first half of the year, dynamics marked by imbalances inherited from previous economic and political cycles for the real estate sector, but it opened a favorable perspective for what is to come.
The change in expectations, the repeal of the Rental Law , the reintroduction of mortgage credit lines , the figure of divisible mortgages and money laundering, according to private analysts, present a different horizon.
These conditions, and the prospect of greater economic stability, anticipate a 2025 that, according to private projections, will leave behind five years of stagnation.
The worst five years of a prolonged crisis seem to have ended - even housing prices have stopped falling - and 2025 is expected to be a year of consolidation. A key fact is that, both in CABA and in the province of Buenos Aires, in the last two months there were record numbers of deeds (they grew 35% compared to 2023), while the rental situation - which was serious, due to a shortage of supply and a sharp rise in values - was extinguished with DNU 70, which culminated the Rental Law .
Upturn
The real estate market has thus demonstrated its ability to react, leaving behind a period of uncertainty and opening the way to a stage of greater dynamism and opportunities.Ezequiel Leibaschoff , commercial director of GCH, highlighted that the return of mortgage loans played a crucial role, boosting demand, especially in CABA, and allowing the reactivation of home acquisition projects. This change significantly strengthened activity in the sector.”
The lessons learned during this period are varied, and it is crucial to adapt developments to new customer demands and market conditions.
The Innovation Park in Núñez, one of the places with the greatest projection and real estate development in CABA
Leibaschoff told Infobae that one of the main challenges was to focus the projects on concrete and tangible solutions, such as the flexibility of spaces and the quality of architectural design, located in strategic areas.
“Despite the increase in construction costs , developers have optimized processes and resources, ensuring the economic and operational viability of the projects. They have managed to efficiently manage costs and adjust sales prices to the new economic reality of the country,” said the specialist.
Challenges abounded in 2024, from higher-than-anticipated construction cost increases to exchange rate fluctuations that complicated the planning and execution of new developments.
Innovation
The Innovation Park, located on the former grounds of the Tiro Federal and opposite the River Plate club, in the Núñez neighborhood, is expected to be one of the fastest growing areas in CABA.Among the developments in the area is Aura Núñez, which offers different housing options with prices that vary: from USD 3,129 and from USD 3,518 per m2 for premium homes. Another project is Orión Parque, with an initial value of USD 3,500 per m2.
Leibaschoff commented: “We anticipate a gradual increase in property prices, supported by sustained demand from investors and end users.”
Orion Parque, one of the futuristic buildings that will soon begin construction (Photo Courtesy: Grupo GCH)
The focus will be on developing multifunctional projects that respond to current needs, and greater dynamism is expected for next year.
Between Paseo del Bajo and Escobar
Mariano Cerquetella , Consultatio's sales manager, assessed the performance of the real estate market in 2024: “We have seen a recovery in segments such as urbanizations and sustainable developments. Demand was concentrated on projects that combine quality, sustainability and innovation, highlighting developments such as Puertos in Escobar. This year reinforced the importance of innovating and adapting to new market demands.”This company is moving forward with the development located in Escobar, also called Nordelta II, where a new shopping center and a service station are also planned.
Regarding the advantages and challenges of the year, Cerquetella highlighted: “We adapted to modern construction methods and advanced technologies in property management. These factors were key to differentiating the projects and attracting investors seeking long-term security and quality. However, we faced challenges related to construction costs and the need to adjust strategies to a fluctuating economic environment.”
In Puertos, those who live there enjoy water sports
Regarding the impact of economic measures such as anti-money laundering and mortgage lending, Cerquetella said: “These initiatives offer significant potential in the medium and long term, particularly in combination with more stable policies. They are essential to broaden access to premium and vertical developments.”
Regarding the evolution of real estate values and expectations for 2025, Cerquetella commented: “In 2024, real estate values in the premium segments showed stability and generated opportunities in developments such as Ports. For 2025, we anticipate a stabilization of prices, supported by a gradual economic recovery and an increase in demand for high-quality urban developments and vertical projects.”
The Paseo del Bajo and Huergo 475 render
Two years ago, the company opened Oceana Puerto Madero - with two-room units starting at USD 500,000 - and Huergo 475, a project under construction in Paseo del Bajo, one of the areas of Buenos Aires with the greatest real estate development.
Destination platense
In 2024, the La Plata real estate market experienced a significant readjustment in property values.Viviana Yacoub , architect and founder of Yacoub Real Estate & Developers, highlighted that, after reaching a historic low in prices, favorable macroeconomic conditions transformed the dynamics of the sector. “This change encouraged confidence and stimulated investment in the sector. It also allowed us to expand the structure, invest in technology and human resources, and acquire offices.”
Render of one of the developments underway in the provincial capital located on Avenida 60 and Calle 17
Financial stability, falling inflation, fiscal surplus, reduction of country risk and opening up to mortgage lending revitalized the market. “These factors, together with the government's decision to reduce investment in public works, allowed construction costs to be adjusted, thus promoting private investment,” said Yacoub.
Regarding the impact of mortgage loans and money laundering, Yacoub said that, although there was no boom in transactions as in 2017, these measures encouraged transparency and facilitated real estate transactions through bank payments. He predicts that the real impact of these policies will be evident in 2025.
“Currently in La Plata we are carrying out projects such as the KENT and Vetro buildings, with values that did not exceed USD 180,000 per unit,” said Yacoub.
The sea, protagonist
In Pinamar, the performance of the real estate market in 2024 and projections for 2025 reflect both challenges and opportunities.Nicolás D'Odorico , development director of Pinamar SA, mentioned that the macroeconomic reorganization after the change of government was positive for the planning of the sector, although it also brought challenges, such as an increase in construction costs in dollars.
The Pinamar Norte area, one of the fastest growing in this part of the Atlantic Coast
"Although the local market has a high summer seasonality, it is not exempt from the macroeconomic trends that affect the rest of the country," he added.
As for the impact of mortgage loans, money laundering and other recent economic measures, D'Odorico said that in Pinamar there was no significant direct movement, but an indirect effect through the clients of developers who choose the area for their projects.
Prices in perspective
"Although sales prices did not vary significantly, we expect an increase, especially for new properties, due to the rise in construction costs," said the expert.
Access area to the Bosques neighborhood in Pinamar
Pinamar Norte and the new developments on Avenida Bunge stand out as growth areas. The average value per m2 in these areas reaches USD 3,000, while lots in Bosques start at USD 100,000, reflecting the continued attractiveness of these areas for investors and residents.
Suburban market
The real estate market in 2024 showed a solid performance, driven by projects with high added value in Greater Buenos Aires.“We had notable launches in Nordelta, Puertos, Terralagos and Openn Pilar,” said Esteban Edelstein Pernice , partner at Castex. He explained that demand remained segmented, with a strong interest in properties that combine strategic location and amenities. This year left a key lesson in the resilience of the sector, where buyers are more selective and prioritize options that fit their needs.
Nordelta and its different neighborhoods always attract demand
Among the main advantages, the stability of certain segments and the interest in consolidated developments such as Nordelta and Puertos stood out, while the challenges were linked to the increase in construction costs.
Edelstein Pernice stressed that the focus on customized solutions and customer support made a key difference in the year-end balance sheet. This enabled the company to close deals even in a context of increasing competition.
The impact of money laundering was significant in boosting operations, especially in recent projects, which offered suitable options for this modality.
However, mortgage loans did not achieve the expected prominence and remain an emerging tool. For next year, the sector expects these measures to gain relevance and encourage more sustained growth.
“In terms of the evolution of values, consolidated projects experienced increases due to the decrease in available land and the increase in construction costs. For 2025, a continuation of this trend is expected, with a market that will favor high-quality suburban developments and strategic locations,” concluded Edelstein Pernice.
www.buysellba.com
