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What are the “emerging neighborhoods” of CABA: dynamics and trends that redefine the Buenos Aires real estate market - Infobae
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www.infobae.com
December 22, 2024
Its growth potential drives innovative projects, and regulatory changes, purchasing preferences and new financial models expand opportunities in certain areas of CABA.
By Jose Luis Cieri
A year of recovery for the housing sector is coming to an end and an even better 2025 is expected (Illustrative Image Infobae)
The Autonomous City of Buenos Aires is experiencing a revival of its real estate market, marked by a boom in decentralized areas, where developers find opportunities to innovate with housing projects in line with current demands. This dynamism, consolidated in 2024, shows signs of recovery after more than five years of crisis in the sector.
Neighborhoods such as Villa Urquiza, Parque Chacabuco, Saavedra and Chacarita ( considered one of the coolest in the world ) have positioned themselves as key areas thanks to affordable land and projects that integrate residences and commercial spaces.
Also noteworthy are Palermo, Núñez, Villa Crespo, Paseo del Bajo (between Retiro, San Nicolás and Monserrat) and Villa del Parque, which combine connectivity, quality of life and growing interest from buyers.
According to developers, preferences have changed: buyers are looking for larger spaces, connectivity and access to essential services. These characteristics explain the growth of areas that were not previously a priority for real estate investment. The push for public transport, such as the Metrobus and the expansion of the subway network, also contributed. And green spaces and tranquility attract young people and families in search of a friendlier environment.
Other booming areas are Villa Devoto, Coghlan, La Paternal, Belgrano, Caballito (with several projects still underway) and some areas of Parque Patricios and Barracas.
The Buenos Aires real estate market shows a strong demand for two- and three-room units, which represent 60% of transactions, followed by four-room units (20%), studio apartments (15%) and atypical properties with five or more rooms (5 percent).
Balcony of a house that is about to be completed at the intersection of Carranza Street and Córdoba Avenue, in the Chacarita neighborhood, one of the coolest in the world
Agustín Walger , director of New Developments at Lepore Properties, told Infobae that “the recession led developers to reduce the size of units to adapt them to buyers’ budgets. Today, a one-room apartment is between 27 and 30 m2, when before it was 32 to 35 m2, and the same happens with two-room apartments, which went from 50-55 m2 to 40-45 m2,” he said.
However, Walger pointed out that in the most sought-after neighborhoods, the surface areas remained the same. Palermo, Belgrano and Núñez lead the demand, while Chacarita and Caballito gain prominence. “The development of the Innovation Park attracted investments and universities, which generates interest,” he said.
He added: “The market has shown signs of revitalisation, but it remains crucial to stabilise costs to meet growing demand.”
Development of SoHo Village in Oro at 2100 in Palermo
During 2024, the value per square meter of two- and three-room properties increased by 25%, with prices starting between USD 2,200 and USD 2,300 in neighborhoods such as Palermo, Núñez and Villa Crespo.
On the other hand, neighborhoods such as Villa Crespo, Paternal, Balvanera and Chacarita were already experiencing growth due to demographic changes and the consolidation of remote work.
The Indigo building, in Parque Patricios, an area that also threatens to take off by 2025
These trends have driven projects that prioritize flexible and functional designs, adapted to the new dynamics of urban inhabitants.
Hernán Pisarenko , commercial director of the developer HA, highlighted that this model could triple the number of people interested in purchasing units. “Currently, only those who have available funds or can pay in a short period of time have access. Extending the payment horizon to ten years will completely transform the sector,” he explained.
This financial instrument also benefits small investors, and will enable the acquisition and fractionation of properties.
Solange Esseiva , from the H54 real estate agency, said that this segment attracts thanks to its potential for appreciation. “Belgrano and Núñez combine connectivity, tranquility and a robust offer of properties with high-level amenities. Palermo, with its contemporary design and proximity to parks, remains one of the most coveted neighborhoods,” she said.
Villa Crespo is consolidating itself as an emerging neighborhood in this segment, standing out for its good price-quality ratio and proximity to key areas of the city.
During 2024, developments with amenities such as swimming pools, gyms and SUM attracted both final buyers and investors looking for strategic assets.
In these premium neighborhoods, the most frequently searched apartments are valued between USD 400,000 and USD 500,000, with transactions carried out both through mortgage loans and through money laundering, the maximum amount allowed being USD 100,000.
According to Esseiva, the sale of three- and four-room apartments has picked up in these areas: “Recoleta is also positioned as a competitive option for those looking to invest with quick profitability periods. Although prices have not yet reached their peak, it is still an ideal time to acquire properties in this segment.”
Walter Fuks , CEO of Grupo Ecipsa, said that the economy is beginning to reflect the effects of structural changes, which has a favorable impact on the sector.
“We see a good year for 2025, as a result of this incipient recovery and long-term strategic planning. During 2024, we are moving forward as planned with more than 25 projects underway and delivering more than 500 units in Argentina, including houses, lots and apartments,” explained Fuks.
Mil Aires in Villa Devoto, there, the value per square meter starts at USD 3,217 for two and three-room units, with post-delivery financing options.
In addition, an ambitious masterplan will be launched in 2025 in San Martín, on a 16-hectare plot of land acquired from IRSA. This mixed-use development will include more than 6,800 residential and commercial units, with 600,000 m2 of buildable area.
Federico Gagliardo , CEO of Vitrium Capital, told Infobae that “Divisible mortgages are essential to facilitate access to properties from the start and allow for affordable payments from day one.”
In addition, the stabilization of prices in dollars and the interest in projects with high-end amenities point to progressive growth in traditional and emerging neighborhoods.
According to Gagliardo, “the northern corridor of Avenida Libertador, both in CABA and Vicente López, will maintain its leadership among market preferences thanks to its connectivity and stability.”
Even with decoupling and cost increases for building, more than 50,000 homes are still being built in CABA (Illustrative Image Infobae)
The property market could have a positive year in 2025 if developer loans are consolidated, a tool that would allow financing to be transferred to buyers.
“There are projects that are waiting for favorable conditions to be launched. If this materializes and foreign investments arrive, especially related to mining, the economy in general will be activated and benefit all sectors,” concluded Walger.
“While families look for areas with green spaces, good connectivity and nearby services, older adults prioritize functionality, security and common areas,” concluded Hernán Pisarenko.
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Source:
Cuáles son los “barrios emergentes” de CABA: dinámicas y tendencias que redefinen el mercado inmobiliario porteño
Su potencial de crecimiento impulsa proyectos innovadores, y cambios normativos, preferencias de compra y nuevos modelos financieros amplían las oportunidades en ciertas zonas de CABA
www.infobae.com
December 22, 2024
Its growth potential drives innovative projects, and regulatory changes, purchasing preferences and new financial models expand opportunities in certain areas of CABA.
By Jose Luis Cieri
A year of recovery for the housing sector is coming to an end and an even better 2025 is expected (Illustrative Image Infobae)
The Autonomous City of Buenos Aires is experiencing a revival of its real estate market, marked by a boom in decentralized areas, where developers find opportunities to innovate with housing projects in line with current demands. This dynamism, consolidated in 2024, shows signs of recovery after more than five years of crisis in the sector.
Neighborhoods such as Villa Urquiza, Parque Chacabuco, Saavedra and Chacarita ( considered one of the coolest in the world ) have positioned themselves as key areas thanks to affordable land and projects that integrate residences and commercial spaces.
Also noteworthy are Palermo, Núñez, Villa Crespo, Paseo del Bajo (between Retiro, San Nicolás and Monserrat) and Villa del Parque, which combine connectivity, quality of life and growing interest from buyers.
According to developers, preferences have changed: buyers are looking for larger spaces, connectivity and access to essential services. These characteristics explain the growth of areas that were not previously a priority for real estate investment. The push for public transport, such as the Metrobus and the expansion of the subway network, also contributed. And green spaces and tranquility attract young people and families in search of a friendlier environment.
Other booming areas are Villa Devoto, Coghlan, La Paternal, Belgrano, Caballito (with several projects still underway) and some areas of Parque Patricios and Barracas.
The Buenos Aires real estate market shows a strong demand for two- and three-room units, which represent 60% of transactions, followed by four-room units (20%), studio apartments (15%) and atypical properties with five or more rooms (5 percent).
Balcony of a house that is about to be completed at the intersection of Carranza Street and Córdoba Avenue, in the Chacarita neighborhood, one of the coolest in the world
Agustín Walger , director of New Developments at Lepore Properties, told Infobae that “the recession led developers to reduce the size of units to adapt them to buyers’ budgets. Today, a one-room apartment is between 27 and 30 m2, when before it was 32 to 35 m2, and the same happens with two-room apartments, which went from 50-55 m2 to 40-45 m2,” he said.
However, Walger pointed out that in the most sought-after neighborhoods, the surface areas remained the same. Palermo, Belgrano and Núñez lead the demand, while Chacarita and Caballito gain prominence. “The development of the Innovation Park attracted investments and universities, which generates interest,” he said.
Sustained recovery and costs
Growth is linked to factors such as economic recovery and rising construction costs. Flavio Galli , CEO of the Tueroc Group, told this newspaper that “high prices for materials and labor are a barrier to new developments, but an adjustment could accelerate projects in high-demand sectors.”He added: “The market has shown signs of revitalisation, but it remains crucial to stabilise costs to meet growing demand.”
Development of SoHo Village in Oro at 2100 in Palermo
During 2024, the value per square meter of two- and three-room properties increased by 25%, with prices starting between USD 2,200 and USD 2,300 in neighborhoods such as Palermo, Núñez and Villa Crespo.
The new Urban Code and the southern area
The Urban Development Code (CUR) recently approved by the Buenos Aires Legislature introduces incentives to encourage development in neighborhoods in the south of the city, such as Parque Patricios, La Boca and Constitución. These areas, which have not yet shown significant growth, could benefit from the new regulatory framework, and would attract investments for residential and commercial projects.On the other hand, neighborhoods such as Villa Crespo, Paternal, Balvanera and Chacarita were already experiencing growth due to demographic changes and the consolidation of remote work.
The Indigo building, in Parque Patricios, an area that also threatens to take off by 2025
These trends have driven projects that prioritize flexible and functional designs, adapted to the new dynamics of urban inhabitants.
Divisible mortgages: a structural change
The introduction of divisible mortgages promises to expand access to housing by facilitating the purchase of property through staggered payments from the start of the project.Hernán Pisarenko , commercial director of the developer HA, highlighted that this model could triple the number of people interested in purchasing units. “Currently, only those who have available funds or can pay in a short period of time have access. Extending the payment horizon to ten years will completely transform the sector,” he explained.
This financial instrument also benefits small investors, and will enable the acquisition and fractionation of properties.
Premium segment: sustained growth
The premium market is showing signs of recovery, with neighborhoods such as Palermo, Recoleta, Belgrano and Villa Crespo among those most chosen by demand.Solange Esseiva , from the H54 real estate agency, said that this segment attracts thanks to its potential for appreciation. “Belgrano and Núñez combine connectivity, tranquility and a robust offer of properties with high-level amenities. Palermo, with its contemporary design and proximity to parks, remains one of the most coveted neighborhoods,” she said.
Villa Crespo is consolidating itself as an emerging neighborhood in this segment, standing out for its good price-quality ratio and proximity to key areas of the city.
During 2024, developments with amenities such as swimming pools, gyms and SUM attracted both final buyers and investors looking for strategic assets.
In these premium neighborhoods, the most frequently searched apartments are valued between USD 400,000 and USD 500,000, with transactions carried out both through mortgage loans and through money laundering, the maximum amount allowed being USD 100,000.
According to Esseiva, the sale of three- and four-room apartments has picked up in these areas: “Recoleta is also positioned as a competitive option for those looking to invest with quick profitability periods. Although prices have not yet reached their peak, it is still an ideal time to acquire properties in this segment.”
Sustainability and modern designs
Galli added that sustainability is a priority for developers, who integrate technologies and materials that reduce environmental impact and improve the quality of life of residents. This approach not only responds to current demands, but also positions projects as attractive options for a public that is increasingly aware of the importance of energy efficiency and sustainability in the urban environment.About General Paz
In another decentralized area par excellence such as Villa Devoto and close to the province of Buenos Aires, several developments are progressing.Walter Fuks , CEO of Grupo Ecipsa, said that the economy is beginning to reflect the effects of structural changes, which has a favorable impact on the sector.
“We see a good year for 2025, as a result of this incipient recovery and long-term strategic planning. During 2024, we are moving forward as planned with more than 25 projects underway and delivering more than 500 units in Argentina, including houses, lots and apartments,” explained Fuks.
Mil Aires in Villa Devoto, there, the value per square meter starts at USD 3,217 for two and three-room units, with post-delivery financing options.
In addition, an ambitious masterplan will be launched in 2025 in San Martín, on a 16-hectare plot of land acquired from IRSA. This mixed-use development will include more than 6,800 residential and commercial units, with 600,000 m2 of buildable area.
Projections
Looking ahead to 2025, sustained growth is expected in decentralized areas and in the premium segment. Neighborhoods such as Villa del Parque and Mataderos could benefit from new urban initiatives, while the advancement of financial tools such as divisible mortgages and a possible stabilization of the economy will boost demand for housing.Federico Gagliardo , CEO of Vitrium Capital, told Infobae that “Divisible mortgages are essential to facilitate access to properties from the start and allow for affordable payments from day one.”
In addition, the stabilization of prices in dollars and the interest in projects with high-end amenities point to progressive growth in traditional and emerging neighborhoods.
According to Gagliardo, “the northern corridor of Avenida Libertador, both in CABA and Vicente López, will maintain its leadership among market preferences thanks to its connectivity and stability.”
Even with decoupling and cost increases for building, more than 50,000 homes are still being built in CABA (Illustrative Image Infobae)
The property market could have a positive year in 2025 if developer loans are consolidated, a tool that would allow financing to be transferred to buyers.
“There are projects that are waiting for favorable conditions to be launched. If this materializes and foreign investments arrive, especially related to mining, the economy in general will be activated and benefit all sectors,” concluded Walger.
Diversification
After the pandemic, developers focused on creating larger spaces with balconies and terraces, with functional spaces with amenities for recreation. The Buenos Aires real estate market is moving towards geographic and demographic diversification.“While families look for areas with green spaces, good connectivity and nearby services, older adults prioritize functionality, security and common areas,” concluded Hernán Pisarenko.
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