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Opportunities to purchase brand new apartments in Buenos Aires - La Nacion Propiedades
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www.lanacion.com.ar
September 26, 2023
The property market in Colegiales and Belgrano is experiencing sustained growth with the arrival of residential developments and a drop in the prices of new apartments
Belgrano and Colegiales offer new real estate projects and lower prices on brand new apartments
One of the areas highlighted in this report is the Donado-Holmberg Avenues corridor (known as DoHo), where the city government pushed for the development of land that was originally intended for the A3 Highway, but which never materialized. These lands, abandoned and/or usurped for decades, were revitalized thanks to this initiative, giving rise to a greater number of residential developments. This regeneration contributed to improving an area that had experienced deterioration over time.
The average price range varies according to each development, with a minimum of US$2,752/m² and a maximum of US$3,250/m².
Another of the most surprising data from the survey is the drop in the average prices of new properties in formal marketing offer. According to the study, the average value per square meter is US$3,012, which represents a decrease of 3.26% compared to the previous year. This downward trend has continued for the last four years, something unusual in most neighborhoods in the city. However, it is important to highlight that the stability and appreciation of new properties was also observed in other sectors of Buenos Aires.
To find average values per square meter lower than the current ones, it is necessary to go back to 2017. The average price range varies according to each development, with a minimum of US$2,752/m² and a maximum of US$3,250/m².
Such is the case of GINZA Residences, on Moldes at 1400, in the heart of the Belgrano neighborhood. This 10-unit building has one and two rooms where, on average, the square meter is US$2,800/m². “They are neighborhoods that have very good accessibility, with almost all bus lines on Cabildo Avenue,” says Eduardo Bagnato, commercial director of Toribio Achával. “They are more familiar places than Recoleta or Palermo, where there are usually more students and tourists,” he adds.
Another project in the area is Depart. It is on 1400 Vidal Street, in front of the new Colegiales railway park. The venture in which the Uno en Uno Group invested US$20 million has, among other features, a hotel-like room available that those who live there can reserve and pay through expenses. “The apartments sell for an average of US$2,800/m2,” details Diego Rybka, partner in the project, which has units with two to five rooms. The 9-story building has everything from a concierge, SUM, swimming pool with changing room to a Zen patio. It is also bike friendly.
“Colegiales has a high potential due to its strategic location, the growing demand for housing, the wide gastronomic offer it has and most importantly: that it continues to be a neighborhood, one is close to everything while walking through it enjoying the greenery and tranquility that characterizes it,” says Rybka, who plans to deliver the units next year.
Departs Colegiales on Vidal Street at 1400
On the other hand, an area of Colegiales itself with good connectivity is the one that imitates Chacarita. “It has less busy streets, low houses and other energy, which is not slow, but which undoubtedly points to a new lifestyle to which the projects that are built also respond,” analyzes Christian Leupold, commercial manager of Avilis, the developer that is moving forward with a project in the area that will be completed in 2026. In Álvarez Thomas y Olleros, almost on the border with Colegiales, the construction of an L-shaped complex is being built that will be called Garda Olleros: it will have two buildings, one on Olleros and the other on Álvarez Thomas, and premises. “At this launch stage there are units at very competitive prices: from US$1,600/m2 financed in adjustable pesos by CAC,” indicate Soldati Propiedades, the company that markets it. “If I want noise, I have it. And if I want peace, too,” they summarize the benefits of the area.
Belgrano and Colegiales are especially attractive for young adults looking for homes in a strategic location and with various amenities.
An interesting phenomenon that stands out in this survey is the high number of buildings that do not have for sale signs or that are already pre-sold. According to the report, 70% of the total are in this situation, that is, 28 of the 42 buildings surveyed. The developers argue that, given the current values, the owners prefer not to sell and choose to pay the expenses and minimum services of the already completed buildings. Their strategy is to recover these expenses when the real estate market improves and they can sell at a better price.
Additionally, the report provides a demographic overview of the apples analyzed. A greater concentration of people is observed in the age range from 20 to 39 years old. This suggests that the neighborhoods of Belgrano and Colegiales are especially attractive for young adults looking for homes in a strategic location and with various amenities.
Real estate development in these neighborhoods generated a positive impact and revitalized areas that had been degraded for years. The arrival of new residential developments provided a renewed supply of properties, both for those looking for new homes and for those interested in purchasing used properties at lower prices. Despite the drop in average prices for new units, values in the area remain competitive compared to other neighborhoods in the city.
As the Buenos Aires Government promises, the property where the Railway Park will be installed is in the process of being transformed and 18,000 square meters of green space will be generated.
Over the years, Belgrano and Colegiales became attractive destinations for those looking for an urban life with access to services, transportation and a wide cultural, green and gastronomic offer. This growth in the real estate market reflects the growing demand to live in these neighborhoods, as well as the confidence of developers in their investment potential.
With new developments transforming the area and new property prices declining, there are exciting opportunities for those wishing to establish themselves in these vibrant and ever-evolving neighborhoods.
www.buysellba.com
Source:
Propiedades: los dos barrios porteños en auge en los que hay oportunidades en la compra de departamentos a estrenar
El mercado de propiedades en Colegiales y Belgrano experimenta un crecimiento sostenido con la llegada de emprendimientos residenciales y una baja en los precios de departamentos nuevos
www.lanacion.com.ar
September 26, 2023
The property market in Colegiales and Belgrano is experiencing sustained growth with the arrival of residential developments and a drop in the prices of new apartments
Belgrano and Colegiales offer new real estate projects and lower prices on brand new apartments
One of the areas highlighted in this report is the Donado-Holmberg Avenues corridor (known as DoHo), where the city government pushed for the development of land that was originally intended for the A3 Highway, but which never materialized. These lands, abandoned and/or usurped for decades, were revitalized thanks to this initiative, giving rise to a greater number of residential developments. This regeneration contributed to improving an area that had experienced deterioration over time.
The average price range varies according to each development, with a minimum of US$2,752/m² and a maximum of US$3,250/m².
Another of the most surprising data from the survey is the drop in the average prices of new properties in formal marketing offer. According to the study, the average value per square meter is US$3,012, which represents a decrease of 3.26% compared to the previous year. This downward trend has continued for the last four years, something unusual in most neighborhoods in the city. However, it is important to highlight that the stability and appreciation of new properties was also observed in other sectors of Buenos Aires.
To find average values per square meter lower than the current ones, it is necessary to go back to 2017. The average price range varies according to each development, with a minimum of US$2,752/m² and a maximum of US$3,250/m².
Such is the case of GINZA Residences, on Moldes at 1400, in the heart of the Belgrano neighborhood. This 10-unit building has one and two rooms where, on average, the square meter is US$2,800/m². “They are neighborhoods that have very good accessibility, with almost all bus lines on Cabildo Avenue,” says Eduardo Bagnato, commercial director of Toribio Achával. “They are more familiar places than Recoleta or Palermo, where there are usually more students and tourists,” he adds.
Another project in the area is Depart. It is on 1400 Vidal Street, in front of the new Colegiales railway park. The venture in which the Uno en Uno Group invested US$20 million has, among other features, a hotel-like room available that those who live there can reserve and pay through expenses. “The apartments sell for an average of US$2,800/m2,” details Diego Rybka, partner in the project, which has units with two to five rooms. The 9-story building has everything from a concierge, SUM, swimming pool with changing room to a Zen patio. It is also bike friendly.
“Colegiales has a high potential due to its strategic location, the growing demand for housing, the wide gastronomic offer it has and most importantly: that it continues to be a neighborhood, one is close to everything while walking through it enjoying the greenery and tranquility that characterizes it,” says Rybka, who plans to deliver the units next year.
Departs Colegiales on Vidal Street at 1400
On the other hand, an area of Colegiales itself with good connectivity is the one that imitates Chacarita. “It has less busy streets, low houses and other energy, which is not slow, but which undoubtedly points to a new lifestyle to which the projects that are built also respond,” analyzes Christian Leupold, commercial manager of Avilis, the developer that is moving forward with a project in the area that will be completed in 2026. In Álvarez Thomas y Olleros, almost on the border with Colegiales, the construction of an L-shaped complex is being built that will be called Garda Olleros: it will have two buildings, one on Olleros and the other on Álvarez Thomas, and premises. “At this launch stage there are units at very competitive prices: from US$1,600/m2 financed in adjustable pesos by CAC,” indicate Soldati Propiedades, the company that markets it. “If I want noise, I have it. And if I want peace, too,” they summarize the benefits of the area.
Belgrano and Colegiales are especially attractive for young adults looking for homes in a strategic location and with various amenities.
An interesting phenomenon that stands out in this survey is the high number of buildings that do not have for sale signs or that are already pre-sold. According to the report, 70% of the total are in this situation, that is, 28 of the 42 buildings surveyed. The developers argue that, given the current values, the owners prefer not to sell and choose to pay the expenses and minimum services of the already completed buildings. Their strategy is to recover these expenses when the real estate market improves and they can sell at a better price.
What are the prices for used apartments?
As for used properties in the same area, the report reveals that there are 1,317 units on offer. The average listing value for these used apartments is US$2,371/m², 21% below the average recorded for units under construction. This provides an interesting opportunity for those buyers looking to purchase properties at more affordable prices in the area.Additionally, the report provides a demographic overview of the apples analyzed. A greater concentration of people is observed in the age range from 20 to 39 years old. This suggests that the neighborhoods of Belgrano and Colegiales are especially attractive for young adults looking for homes in a strategic location and with various amenities.
Real estate development in these neighborhoods generated a positive impact and revitalized areas that had been degraded for years. The arrival of new residential developments provided a renewed supply of properties, both for those looking for new homes and for those interested in purchasing used properties at lower prices. Despite the drop in average prices for new units, values in the area remain competitive compared to other neighborhoods in the city.
As the Buenos Aires Government promises, the property where the Railway Park will be installed is in the process of being transformed and 18,000 square meters of green space will be generated.
Over the years, Belgrano and Colegiales became attractive destinations for those looking for an urban life with access to services, transportation and a wide cultural, green and gastronomic offer. This growth in the real estate market reflects the growing demand to live in these neighborhoods, as well as the confidence of developers in their investment potential.
With new developments transforming the area and new property prices declining, there are exciting opportunities for those wishing to establish themselves in these vibrant and ever-evolving neighborhoods.
www.buysellba.com
