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The data that confirms that you can still buy brand new "cheap" apartments: which ones and where they are - La Nacion Propiedades
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www.lanacion.com.ar
April 14, 2025
A report reveals that there are more than 30 neighborhoods with brand new properties with prices that could be an opportunity.
By Maria Josefina Lanzi
From Núñez to Palermo: the Buenos Aires neighborhoods where brand-new apartments are "cheap"Gonzalo Colini
In the midst of a recovering market that continues to grow in sales and where the value of a square meter of real estate continues to rise —it has accumulated an 8.8% increase over the last 12 months in Buenos Aires, according to Zonaprop—there are still opportunities to purchase properties.
In this specific case, the spotlight is on the price difference between brand-new apartments and those under construction , i.e., under construction. This opens a window of opportunity for those interested in investing their savings in real estate.
In general, brand-new apartments tend to offer higher sales values than properties in the works and used ones , but there are certain areas of Buenos Aires where unique cases are concentrated.
Currently, there are 31 neighborhoods in the City of Buenos Aires with brand-new apartments that are cheaper than those currently under construction , according to a survey by Real Estate Monitor. A few months ago, in mid-2024, this reality was already present, but it only affected 18 neighborhoods. This shows that in recent months, 13 more have been added to the list.
"This situation, which until recently was considered exceptional, is now consolidated as an observable and quantifiable trend," shares Daniel Bryn, a broker at Zipcode and Monitor Inmobiliario.
Núñez is one of the neighborhoods with brand new properties that are 14% cheaper than those with a well.Hernan Zenteno - LA NACION
But what's interesting and new about this reality today is that, in some neighborhoods, the price difference amounts to more than 30%, as is the case in San Telmo , where new construction prices are 32% lower than those of under-construction apartments.
Furthermore, neighborhoods like Coghlan and Núñez, which are increasingly attracting demand, also have significant differences, 16% and 14%, respectively . And neighborhoods like Palermo , another of the most in-demand neighborhoods, also offer opportunities (differences of 6%).
Construction costs have increased by 108% since October 2023, according to Zonaprop figures.Rodrigo Nespolo
“I believe this phenomenon is due to the fact that the construction cost two or three years ago, when the works currently being delivered began, was half of today's values ,” explains Gabriela Bovalina Ladux, director of the Development and Land division at LJ Ramos, adding: “ This makes it possible to sell at lower prices and still generate a profit.”
This way, investors who invested money a few years ago can recoup their money, but the problem lies with those starting construction today: "They have to pass on current costs to the final price; this drives up project prices and makes it difficult to compete with the finished product."
Bryn explains that, adding to this situation is a context where there is a large inventory of construction projects in progress and some already completed projects that have not yet been sold. " This oversupply and the urgency of some developers to sell finished projects and recover liquidity (given that they want to continue building) means that the price of new construction, in many cases, is being adjusted downwards ," he reflects.
Along the same lines, Damián Tabakman, president of the Chamber of Urban Developers (CEDU), states that " there is a significant gap between what is just beginning to be built and what has recently been completed ." He asserts that many of those who have recently completed merchandise bought it at the prices it was in during the previous government's time, when it was very cheap, so they are currently selling it at a price that makes a difference compared to what they set.
However, he assures that prices are already rising in other segments: "Developers are already passing on the increased cost to prices, and used goods are also increasing in value , because stock is gradually being depleted."
San Telmo leads the list of neighborhoods with brand-new apartments cheaper than those with a 32% difference.
When asked whether it's better to invest in pre-owned or brand-new units, Bryn analyzes that the answer will depend on the buyer's profile: " Pre-owned units remain attractive for those looking to finance in installments or pay in stages. But current figures force us to think twice: if the price difference between pre-owned and brand-new units exceeds US$300/m², for a 70 m² unit you'd be paying more than US$21,000 for something that doesn't even exist yet."
Furthermore, it should be noted that a brand new apartment allows for immediate income generation if rented out , while a well-built apartment requires waiting for delivery time, once construction is complete.
www.buysellba.com
Source:
El dato que confirma que aún se pueden comprar departamentos “baratos” a estrenar: cuáles son y dónde están
Un informe revela que hay más de 30 barrios con propiedades a estrenar con precios que pueden ser una oportunidad
www.lanacion.com.ar
April 14, 2025
A report reveals that there are more than 30 neighborhoods with brand new properties with prices that could be an opportunity.
By Maria Josefina Lanzi
From Núñez to Palermo: the Buenos Aires neighborhoods where brand-new apartments are "cheap"Gonzalo Colini
In the midst of a recovering market that continues to grow in sales and where the value of a square meter of real estate continues to rise —it has accumulated an 8.8% increase over the last 12 months in Buenos Aires, according to Zonaprop—there are still opportunities to purchase properties.
In this specific case, the spotlight is on the price difference between brand-new apartments and those under construction , i.e., under construction. This opens a window of opportunity for those interested in investing their savings in real estate.
In general, brand-new apartments tend to offer higher sales values than properties in the works and used ones , but there are certain areas of Buenos Aires where unique cases are concentrated.
Currently, there are 31 neighborhoods in the City of Buenos Aires with brand-new apartments that are cheaper than those currently under construction , according to a survey by Real Estate Monitor. A few months ago, in mid-2024, this reality was already present, but it only affected 18 neighborhoods. This shows that in recent months, 13 more have been added to the list.
"This situation, which until recently was considered exceptional, is now consolidated as an observable and quantifiable trend," shares Daniel Bryn, a broker at Zipcode and Monitor Inmobiliario.
Núñez is one of the neighborhoods with brand new properties that are 14% cheaper than those with a well.Hernan Zenteno - LA NACION
But what's interesting and new about this reality today is that, in some neighborhoods, the price difference amounts to more than 30%, as is the case in San Telmo , where new construction prices are 32% lower than those of under-construction apartments.
Furthermore, neighborhoods like Coghlan and Núñez, which are increasingly attracting demand, also have significant differences, 16% and 14%, respectively . And neighborhoods like Palermo , another of the most in-demand neighborhoods, also offer opportunities (differences of 6%).
Which neighborhoods have brand-new apartments that are cheaper than those under construction?
According to the report, as already mentioned, there are 31 neighborhoods with brand-new apartments that are cheaper than existing units . If we rank them by the difference, the ranking would be as follows:- San Telmo: -32%
- San Nicolas: -27%
- Coghlan: -16%
- Núñez: -14%
- Balvanera: -13%
- Parque Patricios : -12%
- Barracas: -12%
- Agronomia: -11%
- Constitucion: -10%
- Nueva Pompeya: -10%
- Montserrat: -10%
- Palermo: -6%
- Villa Ortúzar: -6%
- La Boca: -6%
- Monte Castro: -5%
- San Cristobal: -5%
- Liniers: -5%
- Villa Urquiza: -4%
- Villa Devoto: -4%
- Recoleta: -4%
- Santa Rita: -3%
- Mataderos: -3%
- Caballito: -3%
- Lugano: -2%
- Villa Del Parque: -2%
- Puerto Madero: -1%
- Almagro: -1%
- Boedo: -1%
- Villa Crespo: -1%
- Flores: -1%
- Saavedra: -1%
Why are brand new apartments cheaper than those in the pit?
Construction costs are one of the main drivers of this real estate market scenario. The index has accumulated a 108% increase since October 2023, according to Zonaprop figures. The brand-new apartments being delivered today were built at construction prices from a few years ago, so in many cases, they are being sold at prices that allow for a profit compared to those costs, which are very different from current ones.
Construction costs have increased by 108% since October 2023, according to Zonaprop figures.Rodrigo Nespolo
“I believe this phenomenon is due to the fact that the construction cost two or three years ago, when the works currently being delivered began, was half of today's values ,” explains Gabriela Bovalina Ladux, director of the Development and Land division at LJ Ramos, adding: “ This makes it possible to sell at lower prices and still generate a profit.”
This way, investors who invested money a few years ago can recoup their money, but the problem lies with those starting construction today: "They have to pass on current costs to the final price; this drives up project prices and makes it difficult to compete with the finished product."
Bryn explains that, adding to this situation is a context where there is a large inventory of construction projects in progress and some already completed projects that have not yet been sold. " This oversupply and the urgency of some developers to sell finished projects and recover liquidity (given that they want to continue building) means that the price of new construction, in many cases, is being adjusted downwards ," he reflects.
Along the same lines, Damián Tabakman, president of the Chamber of Urban Developers (CEDU), states that " there is a significant gap between what is just beginning to be built and what has recently been completed ." He asserts that many of those who have recently completed merchandise bought it at the prices it was in during the previous government's time, when it was very cheap, so they are currently selling it at a price that makes a difference compared to what they set.
However, he assures that prices are already rising in other segments: "Developers are already passing on the increased cost to prices, and used goods are also increasing in value , because stock is gradually being depleted."
San Telmo leads the list of neighborhoods with brand-new apartments cheaper than those with a 32% difference.
When asked whether it's better to invest in pre-owned or brand-new units, Bryn analyzes that the answer will depend on the buyer's profile: " Pre-owned units remain attractive for those looking to finance in installments or pay in stages. But current figures force us to think twice: if the price difference between pre-owned and brand-new units exceeds US$300/m², for a 70 m² unit you'd be paying more than US$21,000 for something that doesn't even exist yet."
Furthermore, it should be noted that a brand new apartment allows for immediate income generation if rented out , while a well-built apartment requires waiting for delivery time, once construction is complete.
www.buysellba.com
