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Nuevo Puerto Madero: Which neighborhood is emerging with its constructions and strengthening its real estate market? - Infobae
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Nuevo Puerto Madero: ¿qué barrio emerge con sus construcciones y fortalece su mercado inmobiliario?
Con una inversión estimada en USD 250 millones, los edificios proponen unidades de hasta 5 ambientes, También se proyectan oficinas y amplias áreas de gastronomía
www.infobae.com
March 25, 2024
With an estimated investment of USD 250 million, the buildings propose units with up to 5 rooms. Offices and large dining areas are also planned.
By José Luis Cieri
In the vicinity of Plaza Félix Lima, between Arias, Ramallo, Cuba and Arcos, there is a notable movement of new works in development and others that are about to begin in the Núñez neighborhood
Núñez, a neighborhood in constant evolution, emerges as the favorite destination for a diverse range of residents looking for properties under construction of up to 5 rooms. Located in the north of the Autonomous City of Buenos Aires, it has recorded one of the most significant transformations in recent years, fusing the tradition of its old mansions and townhouses with a boom in new developments, several of them luxury for both residential and commercial use. commercial.
Along Avenida del Libertador, imposing buildings stand out, offering panoramic views of the River Plate. Although some of these buildings are residential, in recent times there has been notable progress in the construction of premium corporate towers, such as the emblematic buildings next to the Innovation Park, in front of the River Plate club.
The renovation panorama in Núñez is not limited only to new constructions that aspire to transform it into a new “Puerto Madero”. There is also a rebound in the used housing market, making this neighborhood one of the few where real estate values began to recover after a prolonged decline from 2018 to the end of 2023.
Emilio Fauro , of Fauro Propiedades, told Infobae that “this neighborhood witnessed a boom in the construction of high-end corporate buildings, driven by its proximity to General Paz Avenue and the arrival of large development companies. In the residential field, 3-room apartments in premium buildings are the most predominant, with a demand for units of 70 square meters or more.”
The developer Raghsa is carrying out a building and recently bought the former service station located on Avenida del Libertador and Manuela Pedraza, in front of the Libertador Business Center (Photo Courtesy: Ana Bourse)
Currently, more than 20 developments are being built close to Del Libertador and Cabildo avenues that exceed investments of more than USD 250 million.
Characteristics
Despite the boom in low-rise constructions that coexist with residential houses and tree-lined boulevards, a quiet and green environment is maintained thanks to modifications in the Building Code. This area is characterized by premium developments that seek to integrate with the environment, offering apartments with house characteristics: private terraces, grills and individual pools.“Most investors and residents, whether families, young professionals or investors, are inclined towards modern properties with amenities. Núñez offers comparative advantages, such as its connectivity with the northern area and the center of Buenos Aires, quiet streets, green spaces near the river, options for exercise and a wide gastronomic offer. In addition, it houses educational institutions and universities, with expectations of growth with the completion of the Innovation Park in the former Federal Tire,” explained Martín Pinus , of Martín Pinus Real Estate.
Unlike Palermo, where the tourist location predominates, Núñez is an option for traditional rentals.
Render of Casa Magna, on the corner of Cuba and Manuela Pedraza, there was La Guitarrita, a classic gastronomic business that moved to Belgrano
Although a part of the traditional population of the neighborhood persists, the current demand for properties also comes from new residents who are increasingly demanding when choosing their home, prioritizing security and amenities.
Pinus added: “In addition to standard amenities like pools, grills and gyms, they are looking for additional amenities like bike spaces, micro-cinemas, children's play areas, infinity pools and panoramic views.”
Regarding the interior of the homes, the developers highlight that potential buyers prefer spacious, bright, integrated spaces, with reception areas, adequate storage, privacy in the bedrooms, courtesy bathrooms for guests and areas for teleworking.
In addition, they observe that there are those who seek the experience of living in a building with the style of a house, with private terraces, pools and grills, or even individual gardens. This trend, driven by the pandemic, was taken advantage of by developers in projects such as Casa Magna or Pentamodo with avant-garde units.
In parallel with residential development, advances in the construction of luxury corporate buildings are transforming the area. These developments, along with existing ones, are attracting large companies and business groups looking to establish or relocate their offices.
Libertador Business Center attracted top-level companies and this part is also called "Catalinas del Norte" (Photo Courtesy: Ana Bourse)
“This growth of the corporate sector contributes to creating an optimal living and working environment, thus redefining the identity of Núñez,” commented Pinus.
Focus of attraction
The creation of the Innovation Park consolidates the neighborhood as a focus of attraction for new residential, commercial and office projects that will seek to tempt startups.
The Innovation Park in front of River Plate. The project that combined the public by the Buenos Aires Government with the private ones that acquired the plots that will transform the area
Iván Chomer , CEO of GCH, told Infobae that “this project, which is expected to attract approximately 30,000 people daily, promises to become a nerve center of innovation and creativity, generating a great impact throughout the city with a unique space where the Talent, technology and science will coexist with high-standard residential units.
Large educational institutions such as the University of Buenos Aires, the National Technological University, the Technological Institute of Buenos Aires and the Torcuato Di Tella University, along with renowned companies, will be housed in this location.
“A striking architectural design is planned, with large buildings with modern structures and abundant use of glass. This trend reinforces the notable boom that the neighborhood experienced in its urban development, similar to the initial growth of Puerto Madero,” Chomer added.
Work on Correa in 1900
Values
In Núñez, both new and existing homes stand out in the current real estate market.The average value per m2 in the used housing market found stability, and in some cases there is even a slight increase that in some cases climbs to 7% year-on-year, driven by market expectations and the increase in construction costs.
Pablo Valencia Neira , of Valencia Neira Real Estate, said that “single-room or 2-room apartments resisted the fall better compared to larger units, especially those more recent. “The continued growth of this area suggests that this increase in value will be reflected in the market in the long term.”
In the price panorama, opportunities arise for various buyer profiles. Used apartments range from USD 1,800 to USD 2,000 per m2.
The brand new developments offer proposals without amenities but of quality, with common spaces such as a barbecue, which translates into lower expenses, with values around USD 2,200 per m2.
“In addition, there is an offer for the most demanding buyers who are looking for a higher level of comfort, with developments that offer all the comforts and amenities possible, with prices in the order of USD 3,200 to USD 3,500 per m2 in well mode,” Valencia Neira said.
In this radius in the north of CABA, garages are highly in demand when looking for apartments or offices.
Housing located in Quesada and Montañeses
Regarding the sales values of 2 and 3 room units, both new and used, with and without a garage, the following options are presented:
- Brand new 2-room apartment, located on the corner and without a garage, in a building without security or amenities, with a price of USD 2,900 per m2, with 54 m2 of surface.
- 3-room apartment, located in a category building with amenities and security, 5 years old, is for sale at USD 3,200 per m2, with 75 m2.
Aura Núñez, in Cuba between Arias and Deheza, is another ongoing project that promises to further enrich the urban environment
Emilio Fauro added: “It is important to highlight that in Núñez, the value of garages varies depending on the building, ranging between USD 25,000 and USD 35,000 per unit.”
Used properties, according to Zonaprop, start at around USD 140,000 for a 3-bedroom, and from USD 200,000 for a 4-bedroom. This will depend on the age, condition and footage of the unit, as well as the type of building.
Among the options that will arrive, house-type homes with large windows and fluid connection with the outside stand out.
As for the brand new units, the prices of the 2 rooms are offered from USD 120,000, depending on the development; A 3-room apartment can cost between USD 180,000 and USD 200,000, while a 4-room apartment starts at $250,000.
Iván Chomer explained that when buying in a well "this modality offers the advantage of financing the property with a 25% advance in dollars and 36 installments in pesos adjusted by the index of the Argentine Chamber of Construction (CAC)."
In addition to new construction, these areas are also experiencing a boom in dining options, adding value to the community life of the neighborhood. Here the intersection of Arribeños and Manuela Pedraza
Expanding areas
Avenida del Libertador emerges as a focal point, housing high-end buildings and a growing presence of important corporate developments: some also call it “Catalinas del Norte.”This revitalization is not limited only to the main avenue, but extends to the surrounding streets, such as Cuba, Manuela Pedraza, Arcos, Campos Salles, Arribeños and Comodoro Rivadavia boulevard.
Area of Grecia and Arias streets with green as the protagonist
“Other in-demand arteries in the area are Arcos, Vuelta de Obligado, and those surrounding Plaza Félix Lima, such as Arias and Deheza,” said Chomer.
In terms of prospects, Núñez's growth is expected to expand further towards General Paz Avenue and the neighboring Saavedra neighborhood, where development opportunities still exist.
Martín Pinus concluded: “It is important to highlight that the modification of the Construction Code, which prohibits high-rise buildings in the Las Lomas area, contributes to preserving the identity and residential character of this area.”
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