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The 3 hip neighborhoods where you can buy flats for a good price - Nation world News
September 03, 2023
September 3, 2023
The three neighborhoods are surrounded by already consolidated sectors such as Palermo Hollywood and the Audiovisual Quarter
www.buysellba.com
September 03, 2023
September 3, 2023
The disappearance of the railway tracks and the construction of the new route of the San Martín Viaduct marked a milestone in the growth of Palermo, Villa Crespo and Chacarita. The abolition of the borders that separated them, the redesign of the three neighborhoods, the development of new public spaces, parks and commercial areas not only enhanced the area, but also created a moment of opportunity for the Characteristics and real estate.
Diego Rybka, founding partner of Grupo Uno en Uno, emphasizes: “It is an opportune moment for those who have dollars and can take advantage of current real estate prices. It’s an area that will continue to grow and change momentum, new.” Businesses are opening and it will continue to attract developers.
In this way, this growth offers two opportunities: on the one hand, the possibility of buying at relatively low values - with the forecast of a mega-positioning of the area – and the resulting dividend that can leave an income.
Real estate: Opportunities for investors and residents
The little development the area saw because of the railroad tracks and the bridge left glamor and fashion aside – towards Córdoba Avenue in the Palermo Hollywood sector – and kept Villa Crespo in the background, “with workshops, sheds and houses”. taken over and even turned into an unsafe area,” says Diego Miglorisi. For this reason, “despite the crisis that the real estate sector has experienced in the last four years, Real estate has recovered quickly and demand is increasing.”
In everyday life, the works accelerated traffic, did not cause traffic jams, beautified the area, connected different parts of the city and facilitated traffic. However, the impact of the changes on the real estate sector has been serious since, according to several brokers consulted, today it is one of the areas that is experiencing the most development in Buenos Aires, even driving construction activity in the area They see a brighter future because it is strategically located. And not only that, “the Real estate is available at almost cost price and with very low historical values, so it’s time to buy rather than sell,” says Nicolás Korn, director of Korn Desarrolla.
In the event that these purchased units are distributed through platforms such as Airbnb, “Estimated rents are 4% per annum in pesos, and that percentage can be diluted for residential and commercial properties. However everything is at replacement value so it is a good opportunity in both situations.”
There are affordable properties these days—many for less than $55,000—that are ideal for a first home.
Properties under $55,000
For Sebastián Dbsie, of all the opportunities that the real estate market offers today, “first and foremost are the homebuyers as end users.” ideal for a primary residence. If we search the portals we will find that in Palermo there are 58 apartments available for less than $55,000, in Chacarita it is 22 and in Villa Crespo it is 98. Together they add up to almost two hundred options of apartments at very reasonable prices”.
When asked about the merits of investing in temporary rental projects in the region, Alan Mohadeb, Partner at CEK Group, is very optimistic. He points out that these are projects that generate profits before, during and after work. On the one hand, to come in as an investor with extremely competitive pre-launch values, then the revaluation of the meters during the work until the delivery of the unit, and finally and more importantly, the possibility of generating a fixed income in dollars, which is 10% per year in hard currency.”
The reorganization of Palermo, Villa Crespo and Chacarita It has another advantage: it is surrounded by sectors that are already consolidated: Palermo Hollywood, the outlet area on the other side of Juan B. Justo, the audiovisual district on the Dorrego side, the Álvarez Thomas movement and the Corrientes street , which is experiencing an unprecedented commercial explosion due to the Movistar Arena.
For that reason, “I don’t think there’s a stage or area with those characteristics and they’re going to see it completely unrecognizable in a couple of years.” There’s commercial space, offices, small investment apartments, permanent apartments, you’ve got a little bit of everything . So that what is happening is something really amazing and what will happen in 2024 when all the work that is being carried out will be inaugurated. I bet a lot because before the bridge was demolished and the tracks removed we insisted that this area should be one of the best in the city and I have no doubt it will be,” predicts Diego Migliorisi.
According to Sebastián Dbsie, in the office and premises sector, both for sale and for rent, “there are still vacancies and there are owners who are interested in selling their premises or offices at opportunity values.” Post-pandemic properties led to an important change in the use of offices and premises. For example, it is worth noting what happened to Avenida Córdoba, which borders Palermo and Villa Crespo: the clothing stores that were all the rage today are no longer all the rage, leaving some empty premises ready to be of to be inhabited by other objects”.
More supply of new apartments than used ones
Estimated m2 values in brand new apartments have a base value of US$1,600 and can be as high as US$2,300 or US$2,400 depending on amenities and type of development.
“In the area there are first-line projects, triple-A projects, more standard projects and buildings with amenities. There’s a very interesting mix, that’s what makes the area unique. On the contrary, it is used very little because.” It was an area with sheds and workshops. We cannot have a measure of value because there were practically no buildings,” Migliorisi explains.
The new area is surrounded by already consolidated sectors such as Palermo Hollywood, the Outlet area on Juan B. Justo and the Audiovisual District on the Dorrego side.
The three neighborhoods are surrounded by already consolidated sectors such as Palermo Hollywood and the Audiovisual Quarter
Developers are increasingly choosing the area as a positioning strategy to meet the new demand for temporary rentals that has been trend setting around the world.
“We found that the market was no longer asking for units between 30 and 70 m², but for even more compact units. For this reason we have chosen to include as a new typology micro-units of 25 to 30 m², which we sold in less than 300 m² in 30 days,” says Mohadeb. With this data, the developer also clarifies the strong real estate movement in the region: “In October 2022 we sold more than 75% of one of our towers.”
Most property proposals are flexible space, mixed-use buildings built with quality and contemporary design, “and in our case we are planning units that have a program.” amenities of 500 m2 that corresponds to common areas and exclusive and innovative services, as well as intelligent buildings that allow them to be self-sufficient with their resources and low-maintenance,” he indicates.
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