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The Recoleta microzone is a bubble and where it is advisable to buy old apartments to renovate - La Nacion Propiedades
Source:
www.lanacion.com.ar
November 04, 2024
It represents one of the most desired areas of the neighborhood due to its accessibility and wide range of services; it is also recognized for having a range of used units of quality and few new proposals.
By Silvina Vitale and Candela Contreras
Las Heras Park creates a green atmosphere in this micro-zone of RecoletaRicardo Pristupluk
In the area between Las Heras Avenue, Santa Fe, Austria and Pueyrredón Avenue , with characteristics that make what is left vacant quickly become occupied, there are some opportunities in units to be renovated and the developments in progress are transformed into true objects of desire.
“This is not the classic Recoleta neighborhood , it is not the central area but the second ring ,” explains Daniel Obetko, Interwin’s premium residential manager.
Its main characteristic is that it is a very well-connected area, with an excellent commercial, educational, gastronomic and health offer . It is an area of high population density, with a large number of constructions that occurred in the 50s and 90s . “ There is little land left and there are few new developments. It is an area that lost value especially with the pandemic, due to not having a good amount of green areas or buildings with balconies or intermediate areas,” clarifies Obetko. And he maintains that most of the offer corresponds to buildings of a certain age, which are sought by those people who are willing to do a renovation. In that sense, these are good quality constructions , with larger rooms than those found in used apartments in which it is worth investing to renovate them .
“It is an area with the potential for price growth and, above all, the possibility of obtaining opportunities to adapt and refurbish to the needs of the families who buy it ,” explains the manager of Interwin's premium residential area.
“It is a micro-zone in a traditional neighbourhood that is doing very well , where we have quite a few operations taking shape and others already completed,” says Carola Fernández Berisso, head of the Housing sector at Achaval Cornejo. And, like Obetko, she agrees that it is a convenient area due to its access : transport networks, schools and a lot of cultural activity.
Furthermore, with the return to almost all in-person classes, “ Recoleta is a neighborhood that is highly chosen by people who have to return to live in the city from the green suburbs ,” explains Fernández Berisso.
The microzone between Las Heras Avenue, Santa Fe, Austria and Pueyrredón Avenue has important opportunities for those looking to buy an apartmentRicardo Pristupluk
For Ilan Szlazer, a partner at Qube, the area mentioned stands out for its incredible mix of traditional and modern buildings , surrounded by large avenues with various means of transport and close to everything within the city. “Something that is also attractive is the variety of universities and study centres that it has. Last but not least is the security , the presence of police officers and the number of nearby shops,” he says.
For his part, Francisco Bosch, founding partner of Miranda Bosch Real Estate & Art, believes that in this sector of Recoleta the real estate offer is wide and diverse, with properties for sale that cover various types and price ranges . “The highest value properties are concentrated mainly in the Isla area and on Beruti, Austria and Juncal streets . The apartments located on high floors on the avenues are especially appreciated for their wide panoramic views, which contributes significantly to their market value. Likewise, the availability of garages inside the buildings is highly appreciated in this area, reflecting the demand for comfort and practicality in the high-end urban life that characterizes the neighborhood,” he explains.
Recoleta attracts mainly professionals , upper-middle class and upper-class families . This sector is distinguished by its quiet and safe environment , high-quality services and proximity to important business centers, schools and hospitals. In addition, it offers a rich cultural offering with outstanding museums and green spaces such as Parque Carlos Thays and Plaza Francia. The proximity to public transportation is also a plus, facilitating mobility in and out of the neighborhood .
As for the available supply in the area , there are currently around 150 units published on the main real estate portals , with a predominance of studio and one-bedroom apartments between 35 m² and 65 m² mainly. “That is where the greatest demand is also directed,” says Juan Manuel Vázquez Blanco, economist and general manager of Fabián Achával Properties. “ We see that many buyers are investors , but there are also specific projects that have a sustained although not massive demand for three- and four-room units , coming from individuals for residential use,” he adds.
In the area, there are about 150 units published on the main real estate portals.Ricardo Pristupluk
And he explains that prices vary according to different factors , on the one hand, the luminosity, since, in a high-density area like this, the luminosity is a differentiating factor. “Another aspect to take into account is the condition, you have to see if they were renovated or not. In the case of brand new apartments, the amenities represent a great differential based on the fact that there are few developments with these characteristics,” he clarifies.
The real estate agent says that prices for used units start at US$2,300/m² and US$2,400/m² for units that need some type of renovation, while brand new apartments with amenities start at US$2,800/m² and go up to US$6,000/m².
“ It is an area where one could find opportunities, and when the price increase begins to consolidate, it will surely also increase the values there ,” adds the manager of Interwin's premium residential area.
In Recoleta, as in several neighborhoods of the city, property prices began to readjust Ricardo Pristupluk
“Any project carried out in these neighborhoods is highly appreciated by a more conservative public, which values stability and proximity to theaters, universities and schools, medical clinics, shopping centers such as Alto Palermo, as well as the city center. There is a market segment that has always been loyal to Recoleta and Barrio Norte and does not make investments outside these neighborhoods. Due to a shortage of new lots for construction, each development in these places generates high demand ,” explains Alan Mohadeb, partner at Grupo Libertador.
He also explains that this is a highly sought-after micro-zone for both housing and investment . “ The impact of land in Barrio Norte and Recoleta is significant . This neighbourhood has one of the highest prices per square metre, which is directly reflected in the final price of the properties that are sold,” he says.
As for demand , he says it is very even , both for new apartments as well as for used ones in excellent condition and ready to be rented temporarily and obtain a return in dollars brought by both international and local tourism from the interior of the country.
Ernesto Davidsohn, director of Newland, notes that the Recoleta neighborhood is one of the most emblematic and coveted in Buenos Aires, and stands out for its unique combination of culture, history and modernity .
“ In terms of costs, the first half of the year saw significant increases in dollars and prices tried to adapt to this upward curve . We believe that as inflation decreases, both costs and relative prices will adapt to the real competitiveness of the product, moving away from speculation. This adjustment will allow for a fairer and more accurate assessment of the value of properties, benefiting both sellers and buyers,” says the developer. As for real estate projects in the area, he assures that they are designed to satisfy a demanding public , which values both the location and the high quality of the finishes and construction details.
Another of the few projects in dance in the area is Qube Juncal, located on the corner of Juncal and Laprida . Three blocks from Av. Santa Fe and the D subway station, it has great accessibility with various transportation options and commercial premises. It is located in an area close to Avenida del Libertador, Parque Las Heras, the Recoleta Cultural Center, Plaza Francia, the National Museum of Fine Arts, and various universities, clinics and sanatoriums. The development will have nine floors with studio, one, two and three-bedroom units , all facing the front with access to a balcony and terrace balconies on the top floors. In addition, it has a basement with garages, amenities and a north orientation, which guarantees brightness in all units and rooms. Its delivery is scheduled for December 2025 and the price starts at US$3,465/m² .
Qube Juncal will have 9 floors with units ranging from studio to three bedrooms
Another project is being built on the corner of Pacheco de Melo and Agüero , with high connectivity due to its proximity to the Las Heras station of the H subway and quick access arteries such as Las Heras, Avenida del Libertador and Pueyrredón avenues; close to the green corridor of Avenida del Libertador that connects with the Palermo forests and the cultural and gastronomic offerings of the area.
Also facing north, ensuring light and sun throughout the day in all units, the development has 10 floors with a large 140 m² premises on the ground floor. It will have studio, one and two-bedroom units from 30 m² to 150 m², 90% facing the front, which will be suitable for residential or professional use. In this case, the delivery date is July 2026 and the value per m² starts at US$2,300.
A development that breaks with the concept of traditional apartments in the area is We Surf, located on Laprida Street, meters from Las Heras Avenue, in the heart of Recoleta . With an initial investment of US$3 million , the development located steps from “La Isla”, will consist of 20 apartments of 45 m² with the concept of “ one free or liberated bedroom ” and on the top floor a single penthouse of 80 m² . As for the marketing values, Ezequiel Rivarola, who manages the developer, shares that the tickets start at US$140,000 depending on the size of the balcony, which varies in each unit -they are all different-, and the form of purchase is with a 40% advance payment and installments in dollars or pesos that adjust with the Chamber of Construction (CAC) Index .
The symmetry of We Surf seeks to reflect the movement of a wave
In the area, BAH Arenales is a boutique development that offers excellent connectivity: steps away from Santa Fe Avenue, just 100 meters from the D and H subway lines with accessibility and all services. It will have 14 floors, with studio, one and two-bedroom units and a commercial space on the ground floor, as well as amenities. Its delivery is expected for next May and the values per m² range from US$2,700.
BAH Arenales will be ready in May 2025 and has m2 values starting at US$2,700
According to the partner of Grupo Libertador, which is carrying out the Haaus Bustamante project on Sánchez de Bustamante Street and Las Heras Avenue - a few blocks from the microzone in question - a crucial factor is the real estate quality of this portion of the neighborhood . In the case of its development, which begins construction at the end of this year, on the corner of Sánchez de Bustamante and Las Heras Avenue, it has a northern orientation, open views of Las Heras and is close to the National Library and Plaza Francia, in addition to being located just 70 meters from Libertador Avenue.
This is a 16-story corner building with 75 units of between one and two rooms . It is prepared for first homes, professional apartments, and also designed to be managed for temporary rental with a return of more than 10% in dollars, free of charge. Prices start at US$2,800/m², with units of 30 to 55 m² designed for first homes, professional apartments, or temporary rentals : divisible studio apartments of 45 m² and two-room apartments of 50 to 55 m². According to Mohadeb, the finished units will have a value close to US$4,000/m² . The work is expected to take about 26 months. “It will be one of the last corners to be built on Las Heras in Barrio Norte, taking into account the new Building Code,” he explains.
Prices start at US$2,800/m2, with units from 30 m2 to 55 m2 designed for first homes, professional apartments or temporary rentals.
www.buysellba.com
Source:
La microzona de Recoleta que es una burbuja y donde conviene comprar departamentos viejos para refaccionar
Representa una de las áreas más deseadas del barrio por su accesibilidad y gran oferta de servicios; además se la reconoce por tener una oferta de unidades usadas de categoría y escasas propuestas a estrenar
www.lanacion.com.ar
November 04, 2024
It represents one of the most desired areas of the neighborhood due to its accessibility and wide range of services; it is also recognized for having a range of used units of quality and few new proposals.
By Silvina Vitale and Candela Contreras
Las Heras Park creates a green atmosphere in this micro-zone of RecoletaRicardo Pristupluk
In the area between Las Heras Avenue, Santa Fe, Austria and Pueyrredón Avenue , with characteristics that make what is left vacant quickly become occupied, there are some opportunities in units to be renovated and the developments in progress are transformed into true objects of desire.
“This is not the classic Recoleta neighborhood , it is not the central area but the second ring ,” explains Daniel Obetko, Interwin’s premium residential manager.
Its main characteristic is that it is a very well-connected area, with an excellent commercial, educational, gastronomic and health offer . It is an area of high population density, with a large number of constructions that occurred in the 50s and 90s . “ There is little land left and there are few new developments. It is an area that lost value especially with the pandemic, due to not having a good amount of green areas or buildings with balconies or intermediate areas,” clarifies Obetko. And he maintains that most of the offer corresponds to buildings of a certain age, which are sought by those people who are willing to do a renovation. In that sense, these are good quality constructions , with larger rooms than those found in used apartments in which it is worth investing to renovate them .
“It is an area with the potential for price growth and, above all, the possibility of obtaining opportunities to adapt and refurbish to the needs of the families who buy it ,” explains the manager of Interwin's premium residential area.
A different microzone
On the other hand, it identifies two particular audiences that are looking for this area: on the one hand, investors who demand apartments for temporary rental and then small apartments for people looking for their first home or students who settle in the area due to the excellent connectivity and the presence of some faculties.“It is a micro-zone in a traditional neighbourhood that is doing very well , where we have quite a few operations taking shape and others already completed,” says Carola Fernández Berisso, head of the Housing sector at Achaval Cornejo. And, like Obetko, she agrees that it is a convenient area due to its access : transport networks, schools and a lot of cultural activity.
Furthermore, with the return to almost all in-person classes, “ Recoleta is a neighborhood that is highly chosen by people who have to return to live in the city from the green suburbs ,” explains Fernández Berisso.
The microzone between Las Heras Avenue, Santa Fe, Austria and Pueyrredón Avenue has important opportunities for those looking to buy an apartmentRicardo Pristupluk
For Ilan Szlazer, a partner at Qube, the area mentioned stands out for its incredible mix of traditional and modern buildings , surrounded by large avenues with various means of transport and close to everything within the city. “Something that is also attractive is the variety of universities and study centres that it has. Last but not least is the security , the presence of police officers and the number of nearby shops,” he says.
For his part, Francisco Bosch, founding partner of Miranda Bosch Real Estate & Art, believes that in this sector of Recoleta the real estate offer is wide and diverse, with properties for sale that cover various types and price ranges . “The highest value properties are concentrated mainly in the Isla area and on Beruti, Austria and Juncal streets . The apartments located on high floors on the avenues are especially appreciated for their wide panoramic views, which contributes significantly to their market value. Likewise, the availability of garages inside the buildings is highly appreciated in this area, reflecting the demand for comfort and practicality in the high-end urban life that characterizes the neighborhood,” he explains.
Recoleta attracts mainly professionals , upper-middle class and upper-class families . This sector is distinguished by its quiet and safe environment , high-quality services and proximity to important business centers, schools and hospitals. In addition, it offers a rich cultural offering with outstanding museums and green spaces such as Parque Carlos Thays and Plaza Francia. The proximity to public transportation is also a plus, facilitating mobility in and out of the neighborhood .
As for the available supply in the area , there are currently around 150 units published on the main real estate portals , with a predominance of studio and one-bedroom apartments between 35 m² and 65 m² mainly. “That is where the greatest demand is also directed,” says Juan Manuel Vázquez Blanco, economist and general manager of Fabián Achával Properties. “ We see that many buyers are investors , but there are also specific projects that have a sustained although not massive demand for three- and four-room units , coming from individuals for residential use,” he adds.
In the area, there are about 150 units published on the main real estate portals.Ricardo Pristupluk
Property prices in Recoleta
As for prices , Obetko warns that after very strong falls, and this area is one of the ones that fell the most, today they show a recovery . As regards new developments, he explains that the very high value of land in the area due to scarcity, plus a construction cost that rose a lot , plus the incidence of land that is high, determine higher sales values for the developments compared to last year.And he explains that prices vary according to different factors , on the one hand, the luminosity, since, in a high-density area like this, the luminosity is a differentiating factor. “Another aspect to take into account is the condition, you have to see if they were renovated or not. In the case of brand new apartments, the amenities represent a great differential based on the fact that there are few developments with these characteristics,” he clarifies.
The real estate agent says that prices for used units start at US$2,300/m² and US$2,400/m² for units that need some type of renovation, while brand new apartments with amenities start at US$2,800/m² and go up to US$6,000/m².
“ It is an area where one could find opportunities, and when the price increase begins to consolidate, it will surely also increase the values there ,” adds the manager of Interwin's premium residential area.
In Recoleta, as in several neighborhoods of the city, property prices began to readjust Ricardo Pristupluk
“Any project carried out in these neighborhoods is highly appreciated by a more conservative public, which values stability and proximity to theaters, universities and schools, medical clinics, shopping centers such as Alto Palermo, as well as the city center. There is a market segment that has always been loyal to Recoleta and Barrio Norte and does not make investments outside these neighborhoods. Due to a shortage of new lots for construction, each development in these places generates high demand ,” explains Alan Mohadeb, partner at Grupo Libertador.
He also explains that this is a highly sought-after micro-zone for both housing and investment . “ The impact of land in Barrio Norte and Recoleta is significant . This neighbourhood has one of the highest prices per square metre, which is directly reflected in the final price of the properties that are sold,” he says.
As for demand , he says it is very even , both for new apartments as well as for used ones in excellent condition and ready to be rented temporarily and obtain a return in dollars brought by both international and local tourism from the interior of the country.
Ernesto Davidsohn, director of Newland, notes that the Recoleta neighborhood is one of the most emblematic and coveted in Buenos Aires, and stands out for its unique combination of culture, history and modernity .
“ In terms of costs, the first half of the year saw significant increases in dollars and prices tried to adapt to this upward curve . We believe that as inflation decreases, both costs and relative prices will adapt to the real competitiveness of the product, moving away from speculation. This adjustment will allow for a fairer and more accurate assessment of the value of properties, benefiting both sellers and buyers,” says the developer. As for real estate projects in the area, he assures that they are designed to satisfy a demanding public , which values both the location and the high quality of the finishes and construction details.
Another of the few projects in dance in the area is Qube Juncal, located on the corner of Juncal and Laprida . Three blocks from Av. Santa Fe and the D subway station, it has great accessibility with various transportation options and commercial premises. It is located in an area close to Avenida del Libertador, Parque Las Heras, the Recoleta Cultural Center, Plaza Francia, the National Museum of Fine Arts, and various universities, clinics and sanatoriums. The development will have nine floors with studio, one, two and three-bedroom units , all facing the front with access to a balcony and terrace balconies on the top floors. In addition, it has a basement with garages, amenities and a north orientation, which guarantees brightness in all units and rooms. Its delivery is scheduled for December 2025 and the price starts at US$3,465/m² .
Qube Juncal will have 9 floors with units ranging from studio to three bedrooms
Another project is being built on the corner of Pacheco de Melo and Agüero , with high connectivity due to its proximity to the Las Heras station of the H subway and quick access arteries such as Las Heras, Avenida del Libertador and Pueyrredón avenues; close to the green corridor of Avenida del Libertador that connects with the Palermo forests and the cultural and gastronomic offerings of the area.
Also facing north, ensuring light and sun throughout the day in all units, the development has 10 floors with a large 140 m² premises on the ground floor. It will have studio, one and two-bedroom units from 30 m² to 150 m², 90% facing the front, which will be suitable for residential or professional use. In this case, the delivery date is July 2026 and the value per m² starts at US$2,300.
A development that breaks with the concept of traditional apartments in the area is We Surf, located on Laprida Street, meters from Las Heras Avenue, in the heart of Recoleta . With an initial investment of US$3 million , the development located steps from “La Isla”, will consist of 20 apartments of 45 m² with the concept of “ one free or liberated bedroom ” and on the top floor a single penthouse of 80 m² . As for the marketing values, Ezequiel Rivarola, who manages the developer, shares that the tickets start at US$140,000 depending on the size of the balcony, which varies in each unit -they are all different-, and the form of purchase is with a 40% advance payment and installments in dollars or pesos that adjust with the Chamber of Construction (CAC) Index .
The symmetry of We Surf seeks to reflect the movement of a wave
In the area, BAH Arenales is a boutique development that offers excellent connectivity: steps away from Santa Fe Avenue, just 100 meters from the D and H subway lines with accessibility and all services. It will have 14 floors, with studio, one and two-bedroom units and a commercial space on the ground floor, as well as amenities. Its delivery is expected for next May and the values per m² range from US$2,700.
BAH Arenales will be ready in May 2025 and has m2 values starting at US$2,700
According to the partner of Grupo Libertador, which is carrying out the Haaus Bustamante project on Sánchez de Bustamante Street and Las Heras Avenue - a few blocks from the microzone in question - a crucial factor is the real estate quality of this portion of the neighborhood . In the case of its development, which begins construction at the end of this year, on the corner of Sánchez de Bustamante and Las Heras Avenue, it has a northern orientation, open views of Las Heras and is close to the National Library and Plaza Francia, in addition to being located just 70 meters from Libertador Avenue.
This is a 16-story corner building with 75 units of between one and two rooms . It is prepared for first homes, professional apartments, and also designed to be managed for temporary rental with a return of more than 10% in dollars, free of charge. Prices start at US$2,800/m², with units of 30 to 55 m² designed for first homes, professional apartments, or temporary rentals : divisible studio apartments of 45 m² and two-room apartments of 50 to 55 m². According to Mohadeb, the finished units will have a value close to US$4,000/m² . The work is expected to take about 26 months. “It will be one of the last corners to be built on Las Heras in Barrio Norte, taking into account the new Building Code,” he explains.
Prices start at US$2,800/m2, with units from 30 m2 to 55 m2 designed for first homes, professional apartments or temporary rentals.
www.buysellba.com
