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Moving to Greater Buenos Aires: How much does it cost to live in the suburbs and what to consider when buying - Infobae
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www.infobae.com
September 22, 2024
Preferred areas, values and market performance in recent months. Expectations on the price path of new and used units
By Jose Luis Cieri
An apartment located in Temperley, Lomas de Zamora district. (Photo courtesy: Bechara Real Estate)
The dynamics of the real estate market in Greater Buenos Aires (GBA) have clear differences between the geographic corridors that comprise it. The north is always more sought after than the west and the south, but all three have their demand and, as in the Autonomous City of Buenos Aires, they have recovered potential and values have stopped falling .
In fact, there are areas that have appreciated again in 2024, after a long crisis of falling prices that lasted between June 2018 and the beginning of this year. There was an average depreciation of 45%, and now there are places that have risen again by between 5% and 10% compared to a year earlier.
According to Zonaprop, the average price of a one-bedroom apartment in GBA west-south is USD 1,605 per square meter. A 50 m2 unit is listed at USD 80,242, while a three-room apartment reaches USD 116,308 with 70 square meters.
In this area, the price is 28% lower than in GBA north (USD 2,221 per m2) and 30% lower than in CABA (USD 2,301 per m2).
In GBA North, the average value of a one-bedroom apartment is USD 2,221 per m2, and an average price of USD 110,473, while a two-bedroom apartment is listed at USD 164,105.
According to Zonaprop, La Lucila, in the Vicente López district, leads the ranking with USD 3,227 per m2, while the San José neighborhood, in Temperley (Lomas de Zamora district), is the most affordable, in the GBA area with USD 483 per m2.
Source: Zonaprop
Matías Bettatis , Real Estate Manager at Bettatis Asesores Inmobiliarios, explained to Infobae that “San Fernando is a clear example of how housing values can vary within the same district. Historically, the area between the Mitre Train and the Tren de la Costa train tracks was highly valued for its central location and the quality of life it offers. Within San Fernando, areas such as Punta Chica and San Fernando de la Buena Vista stand out for their high prices, due to their residential profile, proximity to the river and innovative developments.”
Punta Chica, in the district of San Fernando, one of the most expensive in the northern zone (Photo Courtesy: Bettatis Asesores Inmobiliarios)
As for prices, a 2-bedroom apartment can cost around USD 109,000, while a 2-bedroom apartment can reach USD 165,000. Meanwhile, 2-bedroom houses, depending on their condition and location, start at USD 90,000.
“Buying property in the GBA offers several advantages compared to CABA. One of the main ones is access to green spaces and a quieter environment, which contributes to a better quality of life. In addition, the infrastructure in the GBA has improved considerably, with innovative projects that increase the potential of real estate developments,” said Bettatis.
Demand in the northern area has exceeded that of CABA for the past 4 years, reflecting a change in trend towards environments that combine being close to Buenos Aires but living close to a more natural and relaxed lifestyle.
Matías Bettatis added: “Teleworking has allowed young families to choose to live in the dynamic neighbourhoods of the GBA and in private developments.”
Ariel José Córdoba of Córdoba Properties, highlighted that “these areas offer a combination of residential and commercial developments that make them attractive for both living and investing.”
Paunero and San José, in Muñiz, one of the dynamic areas (Photo Courtesy: Córdoba Properties)
In San Miguel, its role as the district's commercial center stands out, with a varied offering that includes universities, medical centers and large supermarkets. "Muñiz emerged as an urban development hub, with a growing supply of bars and restaurants that attract investors and residents alike," said Córdoba.
Bella Vista, another town within the district of San Miguel, is known for its large number of gated communities, making it a preferred option for those seeking security and exclusivity. These types of developments have contributed to property prices in Bella Vista being among the highest in the region.
Factors such as lower rental costs compared to CABA drove this change. “In addition, the new money laundering law allows those who have undeclared savings to regularize funds and invest in properties, which has increased inquiries and transactions in the area since a month ago,” Córdoba added.
In terms of prices, a 1-bedroom apartment with a garage in San Miguel can cost around USD 95,000, while a 2-bedroom apartment can cost around USD 115,000; houses in open neighborhoods, with features such as a garage, park and pool, have prices ranging from USD 160,000 to USD 230,000.
Plaza de las Carretas, in the district of San Miguel, you can see the progress of new towers there
In Bella Vista, houses in gated communities can cost over USD 250,000 with a pool and park.
The real estate market maintains that it is a good time to buy. Prices for used and brand new units are no longer falling. “Prices are still affordable, but money laundering and mortgage loans will soon increase demand and prices,” said Ariel Córdoba.
According to experts, property values in that part of the western corridor of the GBA are considerably lower than in CABA, up to 40% less, depending on the case.
“One of the determining factors in the appraisal of properties in this area is security and access to transportation. These variables significantly influence the value of the properties, causing prices to vary widely depending on the specific location within the district,” said Oscar Agrello , partner and general manager of Florencio González Inmuebles.
Avellaneda Street, in a residential area in San Justo (Photo Courtesy: Florencio González Inmuebles)
As for prices, 1- and 2-bedroom apartments in San Justo and surrounding areas range from USD 40,000 to USD 125,000, depending on size and location.
The real estate market in Ramos Mejía is one of the most select, while other areas such as Avenida P. Luro in Laferrere and Ignacio Arieta in San Justo also stand out for their commercial importance. The corridor near Mosconi in Lomas del Mirador and San Justo is not far behind in terms of valuation," Agrello added.
In the province, property appraisal is not carried out in a linear manner per square metre due to the great influence that the area has on the final value.
For example, you can find 3-bedroom duplexes at prices around USD 95,000. Houses have a wider price range, starting at USD 130,000 and exceeding USD 700,000 in some cases with more than one garage, park and swimming pool (especially when approaching Ramos Mejía, one of the most sought-after areas in La Matanza).
Ariel Bechara Aded , from Bechara Inmobiliaria, said that “the difference in prices allows buyers to access homes without moving too far from the center of Buenos Aires.”
On Pallares street in Lanús Oeste
The most expensive areas are usually located in the centres of towns such as Lanús, Avellaneda, Lomas de Zamora and Quilmes. In contrast, the most affordable areas are found in intermediate areas of these towns, such as Piñeyro, Gerli, Wilde, Sarandí, Remedios de Escalada and Temperley. Location is the main factor that influences these price differences, as urban centres have greater demand and better infrastructure, such as means of transport and modern buildings.
“When considering the purchase of a property, location is the most important aspect to consider as it ensures a good investment,” said Bechara Aded.
Buildings in the southern area, such as this one in Temperley, renew the area and attract the interest of young people
Other relevant factors include the square footage and the condition of the property. Two-room units in the southern GBA area start at USD 40,000, while three-room units start at USD 60,000. Two-bedroom houses, with garage included, range from USD 100,000 to USD 130,000.
Tigre Area: When choosing a property in the GBA, it is crucial to consider transportation infrastructure and accessibility, as being well connected to CABA or other areas of the GBA can increase the value of the property over time.
In addition, buyers must take into account several additional costs when considering a real estate transaction.
"These include the Stamp Tax, which is 2% of the value of the deed and is paid equally between the buyer and the seller, and the notary's fees, which can be up to 2% plus VAT," explained Ariel Córdoba.
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Mudarse al Gran Buenos Aires: cuánto cuesta vivir en los corredores del conurbano y qué tener en cuenta al comprar
Las zonas preferidas, valores y desempeño del mercado en los últimos meses. Expectativas sobre el sendero de precios de unidades a estrenar y usadas
www.infobae.com
September 22, 2024
Preferred areas, values and market performance in recent months. Expectations on the price path of new and used units
By Jose Luis Cieri
An apartment located in Temperley, Lomas de Zamora district. (Photo courtesy: Bechara Real Estate)
The dynamics of the real estate market in Greater Buenos Aires (GBA) have clear differences between the geographic corridors that comprise it. The north is always more sought after than the west and the south, but all three have their demand and, as in the Autonomous City of Buenos Aires, they have recovered potential and values have stopped falling .
In fact, there are areas that have appreciated again in 2024, after a long crisis of falling prices that lasted between June 2018 and the beginning of this year. There was an average depreciation of 45%, and now there are places that have risen again by between 5% and 10% compared to a year earlier.
According to Zonaprop, the average price of a one-bedroom apartment in GBA west-south is USD 1,605 per square meter. A 50 m2 unit is listed at USD 80,242, while a three-room apartment reaches USD 116,308 with 70 square meters.
In this area, the price is 28% lower than in GBA north (USD 2,221 per m2) and 30% lower than in CABA (USD 2,301 per m2).
In GBA North, the average value of a one-bedroom apartment is USD 2,221 per m2, and an average price of USD 110,473, while a two-bedroom apartment is listed at USD 164,105.
According to Zonaprop, La Lucila, in the Vicente López district, leads the ranking with USD 3,227 per m2, while the San José neighborhood, in Temperley (Lomas de Zamora district), is the most affordable, in the GBA area with USD 483 per m2.
Source: Zonaprop
Northern area
In the northern suburbs, property prices vary significantly depending on location. Vicente López (USD 2,764 per m2), San Isidro (USD 2,535), Tigre (USD 2,520) and San Fernando (USD 2,031 per m2) are among the most sought-after areas.Matías Bettatis , Real Estate Manager at Bettatis Asesores Inmobiliarios, explained to Infobae that “San Fernando is a clear example of how housing values can vary within the same district. Historically, the area between the Mitre Train and the Tren de la Costa train tracks was highly valued for its central location and the quality of life it offers. Within San Fernando, areas such as Punta Chica and San Fernando de la Buena Vista stand out for their high prices, due to their residential profile, proximity to the river and innovative developments.”
Punta Chica, in the district of San Fernando, one of the most expensive in the northern zone (Photo Courtesy: Bettatis Asesores Inmobiliarios)
As for prices, a 2-bedroom apartment can cost around USD 109,000, while a 2-bedroom apartment can reach USD 165,000. Meanwhile, 2-bedroom houses, depending on their condition and location, start at USD 90,000.
“Buying property in the GBA offers several advantages compared to CABA. One of the main ones is access to green spaces and a quieter environment, which contributes to a better quality of life. In addition, the infrastructure in the GBA has improved considerably, with innovative projects that increase the potential of real estate developments,” said Bettatis.
Demand in the northern area has exceeded that of CABA for the past 4 years, reflecting a change in trend towards environments that combine being close to Buenos Aires but living close to a more natural and relaxed lifestyle.
Matías Bettatis added: “Teleworking has allowed young families to choose to live in the dynamic neighbourhoods of the GBA and in private developments.”
Connection with the West
The San Miguel district stands out for being the link between the north and west of the GBA. And in addition to the town of San Miguel, the Muñiz area has experienced notable growth in recent years, becoming areas of great interest for real estate investment: more than 80 buildings have been built in the last three years.Ariel José Córdoba of Córdoba Properties, highlighted that “these areas offer a combination of residential and commercial developments that make them attractive for both living and investing.”
Paunero and San José, in Muñiz, one of the dynamic areas (Photo Courtesy: Córdoba Properties)
In San Miguel, its role as the district's commercial center stands out, with a varied offering that includes universities, medical centers and large supermarkets. "Muñiz emerged as an urban development hub, with a growing supply of bars and restaurants that attract investors and residents alike," said Córdoba.
Bella Vista, another town within the district of San Miguel, is known for its large number of gated communities, making it a preferred option for those seeking security and exclusivity. These types of developments have contributed to property prices in Bella Vista being among the highest in the region.
Factors such as lower rental costs compared to CABA drove this change. “In addition, the new money laundering law allows those who have undeclared savings to regularize funds and invest in properties, which has increased inquiries and transactions in the area since a month ago,” Córdoba added.
In terms of prices, a 1-bedroom apartment with a garage in San Miguel can cost around USD 95,000, while a 2-bedroom apartment can cost around USD 115,000; houses in open neighborhoods, with features such as a garage, park and pool, have prices ranging from USD 160,000 to USD 230,000.
Plaza de las Carretas, in the district of San Miguel, you can see the progress of new towers there
In Bella Vista, houses in gated communities can cost over USD 250,000 with a pool and park.
The real estate market maintains that it is a good time to buy. Prices for used and brand new units are no longer falling. “Prices are still affordable, but money laundering and mortgage loans will soon increase demand and prices,” said Ariel Córdoba.
The most populated in the suburbs
The La Matanza district has about 1,900,000 inhabitants, according to the 2022 Census, and is the largest in the GBA. Among the areas with the greatest real estate dynamism is San Justo.According to experts, property values in that part of the western corridor of the GBA are considerably lower than in CABA, up to 40% less, depending on the case.
“One of the determining factors in the appraisal of properties in this area is security and access to transportation. These variables significantly influence the value of the properties, causing prices to vary widely depending on the specific location within the district,” said Oscar Agrello , partner and general manager of Florencio González Inmuebles.
Avellaneda Street, in a residential area in San Justo (Photo Courtesy: Florencio González Inmuebles)
As for prices, 1- and 2-bedroom apartments in San Justo and surrounding areas range from USD 40,000 to USD 125,000, depending on size and location.
The real estate market in Ramos Mejía is one of the most select, while other areas such as Avenida P. Luro in Laferrere and Ignacio Arieta in San Justo also stand out for their commercial importance. The corridor near Mosconi in Lomas del Mirador and San Justo is not far behind in terms of valuation," Agrello added.
In the province, property appraisal is not carried out in a linear manner per square metre due to the great influence that the area has on the final value.
For example, you can find 3-bedroom duplexes at prices around USD 95,000. Houses have a wider price range, starting at USD 130,000 and exceeding USD 700,000 in some cases with more than one garage, park and swimming pool (especially when approaching Ramos Mejía, one of the most sought-after areas in La Matanza).
Looking south
Buying a property in the southern suburbs can be up to 30% cheaper than buying a similar property in CABA.Ariel Bechara Aded , from Bechara Inmobiliaria, said that “the difference in prices allows buyers to access homes without moving too far from the center of Buenos Aires.”
On Pallares street in Lanús Oeste
The most expensive areas are usually located in the centres of towns such as Lanús, Avellaneda, Lomas de Zamora and Quilmes. In contrast, the most affordable areas are found in intermediate areas of these towns, such as Piñeyro, Gerli, Wilde, Sarandí, Remedios de Escalada and Temperley. Location is the main factor that influences these price differences, as urban centres have greater demand and better infrastructure, such as means of transport and modern buildings.
“When considering the purchase of a property, location is the most important aspect to consider as it ensures a good investment,” said Bechara Aded.
Buildings in the southern area, such as this one in Temperley, renew the area and attract the interest of young people
Other relevant factors include the square footage and the condition of the property. Two-room units in the southern GBA area start at USD 40,000, while three-room units start at USD 60,000. Two-bedroom houses, with garage included, range from USD 100,000 to USD 130,000.
Real estate expenses
In addition to the property's sale price, buyers must consider the auctioneer's fees, which represent between 3% and 4% of the property's value, "and the title deed fees, which vary according to the property's price," said Ariel Bechara Aded.
Tigre Area: When choosing a property in the GBA, it is crucial to consider transportation infrastructure and accessibility, as being well connected to CABA or other areas of the GBA can increase the value of the property over time.
In addition, buyers must take into account several additional costs when considering a real estate transaction.
"These include the Stamp Tax, which is 2% of the value of the deed and is paid equally between the buyer and the seller, and the notary's fees, which can be up to 2% plus VAT," explained Ariel Córdoba.
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