Real Estate Sales Used M2 in the Greater Buenos Aires Area - Reporte Inmobiliario

[BuySellBA]

Used M2 in the Greater Buenos Aires Area - Reporte Inmobiliario



February 06, 2025




The prices of used apartments are rising moderately in the Greater Buenos Aires area and are still 33.6% below the 2018 peak.

During the last quarter of 2024, the average price recorded by Reporte Inmobiliario for the 13 municipalities surveyed in the first ring of the Greater Buenos Aires area showed a slight increase compared to the 3rd quarter of the year, reaching U$S/m2 1,616. The quarterly increase was 1.42%.



In the year-over-year comparison with the fourth quarter of 2023, the average price per square meter increased by 4.97% in dollars.



It is important to highlight that prices are still at historical lows, 33.6% below the maximum peak recorded in December 2018 (U$S/m2 2,434).



It is undeniable that the rate of price growth remains low, especially considering that the number of deeds registered in PBA has been good in recent months. This district likely depends much more on the current activation of mortgage loans for prices to finally recover what was lost during the 2017-2020 period. Additionally, as in previous reports, the process of value polarization stands out, with the Northern corridor outpacing other areas.

METHODOLOGY EMPLOYED:


A homogeneous number of cases is surveyed for each locality based on its built density in the central area or in the zone most recognized for having a higher concentration of residential buildings in horizontal property. The number of cases surveyed ranges between 30 and 60, depending on the scale of the locality, and is statistically predetermined as a representative sample of the historical supply universe. The research is carried out under the "mystery shopper" method. In all cases, it is verified that the apartment is used, is part of a horizontal property building with a standard elevator, is in medium maintenance condition, has no parking space, and the building has no amenities. The covered and balcony areas are checked. The homogenization criteria for these areas are 100% for covered areas and 50% for balcony areas. The units are located on the floor at the building's average height (number of floors/2). All offers and data that make up the study are verified by phone or email, after a pre-selection process carried out via property search engines on the web or ads published in national, provincial, or regional printed media.




www.buysellba.com

 

[StatusNomadicus]

oof, this is why i never ended up staying in BsAs ... i was looking at $95k USD for a very small apartment 1bed/1bath and 2 sets of stairs no elevator, or 120k plus a ton of additional costs for a decent 2bed/1bath apartment in a newer building. at the end of 2024 i bought a 168 m2 house in a nice neighborhood of Mendoza (Quinta Seccion) with a 3-car linear garage and half-remodeleled, 5% of the bums and dog poop of CABA, 10 mins walking to the city gym/pool and butcher and bakeries and giant park, no need for a car so far...for $133k (3bed/2bath and giant terrace not included in footage). super quiet, zero crime so far. 2% realtor and 2% Notary and 7k extra for 80% furnished, so just over $145k out the door, paid with crypto. not sure how to calculate $/m2 on which price, but the 133k start price would be 133,000 / 168 = $792/m2 i think, if anyone is curious

 

[Betsy Ross]

oof, this is why i never ended up staying in BsAs ... i was looking at $95k USD for a very small apartment 1bed/1bath and 2 sets of stairs no elevator, or 120k plus a ton of additional costs for a decent 2bed/1bath apartment in a newer building. at the end of 2024 i bought a 168 m2 house in a nice neighborhood of Mendoza (Quinta Seccion) with a 3-car linear garage and half-remodeleled, 5% of the bums and dog poop of CABA, 10 mins walking to the city gym/pool and butcher and bakeries and giant park, no need for a car so far...for $133k (3bed/2bath and giant terrace not included in footage). super quiet, zero crime so far. 2% realtor and 2% Notary and 7k extra for 80% furnished, so just over $145k out the door, paid with crypto. not sure how to calculate $/m2 on which price, but the 133k start price would be 133,000 / 168 = $792/m2 i think, if anyone is curious

Definitely you can get more m2 for the money outside of Buenos Aires but that is the same thing trying to compare buying a property in New York City vs. Omaha. Very different cities so it's not comparable just on prices.

Buenos Aires will always be much more in demand than outside of BA. I know people that have tried to sell properties outside of BA and they have had them for sale for years and years and could never sell. But all those I know that wanted to sell in BA could do so fairly quickly at the prices they wanted.

 

[earlyretirement]

oof, this is why i never ended up staying in BsAs ... i was looking at $95k USD for a very small apartment 1bed/1bath and 2 sets of stairs no elevator, or 120k plus a ton of additional costs for a decent 2bed/1bath apartment in a newer building. at the end of 2024 i bought a 168 m2 house in a nice neighborhood of Mendoza (Quinta Seccion) with a 3-car linear garage and half-remodeleled, 5% of the bums and dog poop of CABA, 10 mins walking to the city gym/pool and butcher and bakeries and giant park, no need for a car so far...for $133k (3bed/2bath and giant terrace not included in footage). super quiet, zero crime so far. 2% realtor and 2% Notary and 7k extra for 80% furnished, so just over $145k out the door, paid with crypto. not sure how to calculate $/m2 on which price, but the 133k start price would be 133,000 / 168 = $792/m2 i think, if anyone is curious

Congrats @StatusNomadicus for completing your purchase in Mendoza! Properties are much more affordable there vs. BA. Just like @Betsy Ross mentioned, it's two totally different cities. People that love BA can hate Mendoza and vice versa. Different strokes for different folks. Mendoza is a great city for those that don't like big city living.

Property prices pretty much all over Argentina are priced per m2 based on the area. What I use as a comparative cost basis for calculations is I take covered sq. meters at 100%. Then any uncovered I will use 50% of the uncovered m2. If it has some amazing space or amazing rooftop terrace or something I might use 75% of the m2 of that uncovered space.

Buenos Aires will always be the most in demand and typically the most expensive m2 in Argentina depending on the neighborhoods.

I've literally purchased many hundreds of properties and I exited out of 95% of our portfolio for our clients in 2017 and 2018 at the peak. Every single one of my clients that wanted to exit was able to. But we mostly only buy in Recoleta and Palermo which are two of the most desirable neighborhoods in South America.

I started buying again in mid-2023 and said that was the bottom and fortunately prices have been going up. I believe we will hit a new peak within a few years. Sales volume has been going up and mortgages are about 20% of the market now.

 

[FuturoBA]

Property prices pretty much all over Argentina are priced per m2 based on the area. What I use as a comparative cost basis for calculations is I take covered sq. meters at 100%. Then any uncovered I will use 50% of the uncovered m2. If it has some amazing space or amazing rooftop terrace or something I might use 75% of the m2 of that uncovered space.

Nice, that was what I used when I calculated my initial offer too- 100% for covered and 50% for uncovered.

 

[earlyretirement]

Nice, that was what I used when I calculated my initial offer too- 100% for covered and 50% for uncovered.

Yes, it doesn't matter what % you use for uncovered but the important thing is to consistently use the same formula when looking at various properties so you can do a head to head comparison on properties.

 

[Johnny]

oof, this is why i never ended up staying in BsAs ... i was looking at $95k USD for a very small apartment 1bed/1bath and 2 sets of stairs no elevator, or 120k plus a ton of additional costs for a decent 2bed/1bath apartment in a newer building. at the end of 2024 i bought a 168 m2 house in a nice neighborhood of Mendoza (Quinta Seccion) with a 3-car linear garage and half-remodeleled, 5% of the bums and dog poop of CABA, 10 mins walking to the city gym/pool and butcher and bakeries and giant park, no need for a car so far...for $133k (3bed/2bath and giant terrace not included in footage). super quiet, zero crime so far. 2% realtor and 2% Notary and 7k extra for 80% furnished, so just over $145k out the door, paid with crypto. not sure how to calculate $/m2 on which price, but the 133k start price would be 133,000 / 168 = $792/m2 i think, if anyone is curious

How is the rental market in Mendoza? I own a few properties and one of the most important things I learned a long time ago was the 3 most important things in real estate is location, location and location. It was not an easy decision for me to invest in Argentina but one of the reasons I did was eventually I may want to sell it and I wasn't sure how liquid it was outside of Buenos Aires.

I met an American at the airport on the way down to Buenos Aires my first trip and he owned a house in Bariloche that he was trying to sell for 3 years. I don't know if much of Argentina is the same way. How long was that property you bought listed @StatusNomadicus?

 

[Wally]

How is the rental market in Mendoza? I own a few properties and one of the most important things I learned a long time ago was the 3 most important things in real estate is location, location and location. It was not an easy decision for me to invest in Argentina but one of the reasons I did was eventually I may want to sell it and I wasn't sure how liquid it was outside of Buenos Aires.

I met an American at the airport on the way down to Buenos Aires my first trip and he owned a house in Bariloche that he was trying to sell for 3 years. I don't know if much of Argentina is the same way. How long was that property you bought listed @StatusNomadicus?

My mother in law owns a house out in Pilar and her neighbor has been trying to sell their house for over 3 years. Outside a few desirable neighborhoods of Buenos Aires larger properties can sit on the market a long time. Some sellers won't drop their prices and some never sell because of that. Most don't hold any mortgage so they just sit on the properties and they don't sell.

If you are buying in a good neighborhood in BA you will typically find a buyer. All of our friends that ended up selling their apartments when they moved out of Buenos Aires sold within a year but they were in neighborhoods like Palermo, Belgrano, Recoleta, and Puerto Madero.