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What are the 5 most expensive avenues in Buenos Aires: how much does it cost to live there and why they are exclusive - Infobae
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www.infobae.com
January 02, 2024
They concentrate luxury properties whose values reflect their strategic location, prestige and construction quality. The price of premium apartments exceeds 3,500 USD per m2.
By Jose Luis Cieri
A balcony on Avenida del Libertador at 2800 in front of Plaza Alemania, an exclusive area (Photo Courtesy: Martín Pinus Real Estate)
The most expensive avenues in the city of Buenos Aires are known for their high prices for both buying and renting properties, and their prestige places them at levels that are difficult to match in the Buenos Aires and global real estate markets.
Five luxury arteries in CABA exceed USD 3,500 per square meter, comparable with the main streets in the world. Fifth Avenue in New York, a symbol of exclusivity, displays iconic buildings and a premium commercial offer. In Paris, the Champs Elysees stands out for its gardens, luxury stores and events such as the July 14 fashion show. Via Montenapoleone in Milan concentrates the main fashion houses in the exclusive Golden Quadrilateral. Bond Street in London brings together high jewelry and brands under a unique atmosphere. Finally, Paseo de Gracia in Barcelona fuses modernist architecture and renowned boutiques in one of the most exclusive avenues in Europe.
According to experts consulted by Infobae , arteries such as Libertador Avenue , Figueroa Alcorta , Alvear , Quintana Avenue (between Retiro, Recoleta, Palermo, Belgrano and Núñez) and Juana Manso in Puerto Madero make up the list of the five most expensive.
Martín Pinus , director of Martín Pinus Real Estate, said that both Figueroa Alcorta and Libertador Avenues stand out for their spaciousness and the quality of the views they offer, which can include the river, the iconic lakes of Palermo, the Rose Garden or even the Japanese Garden.
On the other hand, Avenida Alvear ( perhaps the most aristocratic, with apartments starting at USD 350,000 ), referred to as the little Paris of Latin America , is characterized by its French style reflected in palaces and mansions that today function as luxury hotels or exclusive shops. “These avenues have a unique appeal due to their architecture, proximity to parks and the luxury of their buildings, elements that make them highly sought after by both local and foreign buyers with high purchasing power,” said Pinus.
These are avenues that connect different sought-after neighborhoods and stand out for offering homes in iconic buildings, as well as in constructions under construction that will renew the geography of Buenos Aires.
Alvear Avenue between Ayacucho and Callao Avenue
These arteries are not only recognized for their location on the northern axis of the city, but also for being considered “an address” (a term used to describe a prestigious or exclusive location, especially in the real estate market), according to Daniel Obetko , premium residential manager at Interwin Marketing Inmobiliario.
Puerto Madero, known as the most expensive neighborhood in Buenos Aires, concentrates a large part of the premium real estate offer.
According to data provided by Obetko, “the average square meter in the neighborhood reaches USD 6,000, although in some emblematic towers such as Château, Le Parc or Oceana, it can exceed USD 8,000.”
This enclave offers modern buildings, security and exclusive views of the river, but faces challenges such as difficult access during rush hour and the lack of school infrastructure for children, which limits its appeal to families, according to sources in the high-end real estate market.
Libertador Avenue and Sinclair, where one of the most expensive buildings in CABA is being built
“The average annual increase in CABA is around 10%, but emblematic avenues usually exceed this average, especially those with unique elements such as iconic buildings or privileged locations,” explained Obetko.
For example, on Avenida del Libertador, prices can vary significantly depending on the section: the areas near the Hipódromo de Palermo and Plaza Alemania are the most expensive along the route.
A kitchen and dining room on Figueroa Alcorta Avenue
Regarding specific values, Pinus explained that on Avenida Figueroa Alcorta, a used three-bedroom apartment can cost from USD 3,600 per m2 to almost USD 6,800 if it is brand new.
As for rentals, “prices on this same avenue can vary between USD 1,900 per month for one-bedroom apartments and up to USD 10,000 for larger and more modern properties,” added Pinus.
In Puerto Madero, one-bedroom units in recently opened buildings usually have considerably large surfaces, reaching 90 m2, and their price can be around USD 540,000, a price that generally includes a garage.
According to Daniel Obetko, “in the last year, properties in Puerto Madero were sold to Chinese and American buyers, who found in this area a brand associated with luxury, construction quality and refinement.”
In Núñez, one-bedroom apartments reach up to USD 6,500 per m2 for sale. Two-bedroom, brand new units in Libertador and Figueroa Alcorta reach USD 5,850 per m2, while three-bedroom apartments range from USD 3,600 used to USD 6,800 for brand new units.
View of a building located in Palermo over the polo fields: the surroundings and views of the river also give a plus to the value of the property (Photo Courtesy: Interwin Marketing Inmobiliario)
Meanwhile, Pinus said that the properties on Avenida Alvear attract those who want contemporary renovations in classic French-style structures, thus adapting the apartments to minimalist and modern tastes.
On Avenida Alvear, one-bedroom apartments range from USD 1,200 to USD 2,600 per month; while a three-room apartment can reach USD 3,500; and three-room abedpartments climb to USD 8,900 per month furnished. On Avenida Quintana, the prices are similar.
He also explained that premium units in exclusive buildings, located on the city's most expensive avenues, tend to resist economic crises better, with slower declines and quicker recoveries in periods of expansion.
Juana Manso Avenue and Martha Salotti, one of the most expensive intersections in CABA
"These properties are in demand by high-income sectors, whose owners, knowing the value of their property, tend to maintain prices and wait for the market to recover," Pinus added.
According to calculations cited by Obetko, “the annual rent for high-end apartments, such as those located in Puerto Madero or Avenida Libertador, usually averages 5% annual profitability in dollars, depending on the size and services offered by the unit.”
Living on the most sought-after avenues and at a height provides a unique amplitude towards the Buenos Aires horizon
For example, the monthly rent for properties larger than 200 m2 can exceed USD 8,000 and the expenses there exceed $400,000 per month.
In a context like the current one, the avenues mentioned above are also a measure of real estate performance in Buenos Aires. While smaller units, with one or two bedrooms, appear less frequently, premium properties with large surfaces and four rooms are the norm in these areas.
Figueroa Alcorta Avenue and Tagle, another of the luxurious arteries: an emblematic corner of CABA
This highlights that exclusivity is designed for a specific audience, willing to invest large sums of money in a high-end lifestyle.
On these avenues there are penthouse or duplex apartments of more than 400 m2 that can be worth up to USD 8,000,000 with more than 400 m2 and their own amenities in addition to those in the building.
Obetko concluded: “These avenues are not only real estate markets, they are symbols that give identity and prestige to the buyer.”
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Cuáles son las 5 avenidas más caras de Buenos Aires: cuánto cuesta vivir allí y por qué son exclusivas
Concentran propiedades de lujo cuyos valores reflejan su ubicación estratégica, prestigio y calidad constructiva. El precio de los departamentos premium supera los 3.500 USD por m2
www.infobae.com
January 02, 2024
They concentrate luxury properties whose values reflect their strategic location, prestige and construction quality. The price of premium apartments exceeds 3,500 USD per m2.
By Jose Luis Cieri
A balcony on Avenida del Libertador at 2800 in front of Plaza Alemania, an exclusive area (Photo Courtesy: Martín Pinus Real Estate)
The most expensive avenues in the city of Buenos Aires are known for their high prices for both buying and renting properties, and their prestige places them at levels that are difficult to match in the Buenos Aires and global real estate markets.
Five luxury arteries in CABA exceed USD 3,500 per square meter, comparable with the main streets in the world. Fifth Avenue in New York, a symbol of exclusivity, displays iconic buildings and a premium commercial offer. In Paris, the Champs Elysees stands out for its gardens, luxury stores and events such as the July 14 fashion show. Via Montenapoleone in Milan concentrates the main fashion houses in the exclusive Golden Quadrilateral. Bond Street in London brings together high jewelry and brands under a unique atmosphere. Finally, Paseo de Gracia in Barcelona fuses modernist architecture and renowned boutiques in one of the most exclusive avenues in Europe.
According to experts consulted by Infobae , arteries such as Libertador Avenue , Figueroa Alcorta , Alvear , Quintana Avenue (between Retiro, Recoleta, Palermo, Belgrano and Núñez) and Juana Manso in Puerto Madero make up the list of the five most expensive.
Martín Pinus , director of Martín Pinus Real Estate, said that both Figueroa Alcorta and Libertador Avenues stand out for their spaciousness and the quality of the views they offer, which can include the river, the iconic lakes of Palermo, the Rose Garden or even the Japanese Garden.
On the other hand, Avenida Alvear ( perhaps the most aristocratic, with apartments starting at USD 350,000 ), referred to as the little Paris of Latin America , is characterized by its French style reflected in palaces and mansions that today function as luxury hotels or exclusive shops. “These avenues have a unique appeal due to their architecture, proximity to parks and the luxury of their buildings, elements that make them highly sought after by both local and foreign buyers with high purchasing power,” said Pinus.
These are avenues that connect different sought-after neighborhoods and stand out for offering homes in iconic buildings, as well as in constructions under construction that will renew the geography of Buenos Aires.
Alvear Avenue between Ayacucho and Callao Avenue
These arteries are not only recognized for their location on the northern axis of the city, but also for being considered “an address” (a term used to describe a prestigious or exclusive location, especially in the real estate market), according to Daniel Obetko , premium residential manager at Interwin Marketing Inmobiliario.
Puerto Madero, known as the most expensive neighborhood in Buenos Aires, concentrates a large part of the premium real estate offer.
According to data provided by Obetko, “the average square meter in the neighborhood reaches USD 6,000, although in some emblematic towers such as Château, Le Parc or Oceana, it can exceed USD 8,000.”
This enclave offers modern buildings, security and exclusive views of the river, but faces challenges such as difficult access during rush hour and the lack of school infrastructure for children, which limits its appeal to families, according to sources in the high-end real estate market.
Rising values
As for price fluctuations on these avenues ( something that is in line with the entire sector in CABA ), it is observed that premium properties tend to recover quickly in times of economic expansion and maintain their value even during crises, according to specialists.
Libertador Avenue and Sinclair, where one of the most expensive buildings in CABA is being built
“The average annual increase in CABA is around 10%, but emblematic avenues usually exceed this average, especially those with unique elements such as iconic buildings or privileged locations,” explained Obetko.
For example, on Avenida del Libertador, prices can vary significantly depending on the section: the areas near the Hipódromo de Palermo and Plaza Alemania are the most expensive along the route.
A kitchen and dining room on Figueroa Alcorta Avenue
Regarding specific values, Pinus explained that on Avenida Figueroa Alcorta, a used three-bedroom apartment can cost from USD 3,600 per m2 to almost USD 6,800 if it is brand new.
As for rentals, “prices on this same avenue can vary between USD 1,900 per month for one-bedroom apartments and up to USD 10,000 for larger and more modern properties,” added Pinus.
In Puerto Madero, one-bedroom units in recently opened buildings usually have considerably large surfaces, reaching 90 m2, and their price can be around USD 540,000, a price that generally includes a garage.
According to Daniel Obetko, “in the last year, properties in Puerto Madero were sold to Chinese and American buyers, who found in this area a brand associated with luxury, construction quality and refinement.”
In Núñez, one-bedroom apartments reach up to USD 6,500 per m2 for sale. Two-bedroom, brand new units in Libertador and Figueroa Alcorta reach USD 5,850 per m2, while three-bedroom apartments range from USD 3,600 used to USD 6,800 for brand new units.
View of a building located in Palermo over the polo fields: the surroundings and views of the river also give a plus to the value of the property (Photo Courtesy: Interwin Marketing Inmobiliario)
Meanwhile, Pinus said that the properties on Avenida Alvear attract those who want contemporary renovations in classic French-style structures, thus adapting the apartments to minimalist and modern tastes.
On Avenida Alvear, one-bedroom apartments range from USD 1,200 to USD 2,600 per month; while a three-room apartment can reach USD 3,500; and three-room abedpartments climb to USD 8,900 per month furnished. On Avenida Quintana, the prices are similar.
He also explained that premium units in exclusive buildings, located on the city's most expensive avenues, tend to resist economic crises better, with slower declines and quicker recoveries in periods of expansion.
Juana Manso Avenue and Martha Salotti, one of the most expensive intersections in CABA
"These properties are in demand by high-income sectors, whose owners, knowing the value of their property, tend to maintain prices and wait for the market to recover," Pinus added.
Profitable
The relationship between demand and prestige is also reflected in the rents generated by these properties.According to calculations cited by Obetko, “the annual rent for high-end apartments, such as those located in Puerto Madero or Avenida Libertador, usually averages 5% annual profitability in dollars, depending on the size and services offered by the unit.”
Living on the most sought-after avenues and at a height provides a unique amplitude towards the Buenos Aires horizon
For example, the monthly rent for properties larger than 200 m2 can exceed USD 8,000 and the expenses there exceed $400,000 per month.
In a context like the current one, the avenues mentioned above are also a measure of real estate performance in Buenos Aires. While smaller units, with one or two bedrooms, appear less frequently, premium properties with large surfaces and four rooms are the norm in these areas.
Figueroa Alcorta Avenue and Tagle, another of the luxurious arteries: an emblematic corner of CABA
This highlights that exclusivity is designed for a specific audience, willing to invest large sums of money in a high-end lifestyle.
On these avenues there are penthouse or duplex apartments of more than 400 m2 that can be worth up to USD 8,000,000 with more than 400 m2 and their own amenities in addition to those in the building.
Obetko concluded: “These avenues are not only real estate markets, they are symbols that give identity and prestige to the buyer.”
www.buysellba.com
