Buenos Aires Real Estate

The north of Buenos Aires, it was historically the zone of the city most estimated to live and certainly for real-estate business. The best constructions, the most luxurious towers, the projects of more resonance were predestined to have one point of reference in the city, the north.

On the other hand, the south after the yellow fever epidemic exiled all the wealthy families that were living in the areas surrounding San Telmo in the middle of the 19th century. Little by little was losing the charm, furthermore in the southern part, where there was an industrial pole that was used as base to the big factories of Buenos Aires and the surroundings. With these precedents, the south was devaluated compare to the lucky north.
For some years, the south is generating another interest, Puerto Madero probably has been the key to put attention and to see that beyond the Belgrano Avenue there is much to do, for construction and new urban options.

The situation we commented in previous post, about the north in relation to reach a plateau in terms of construction is turning the south in the main protagonist of the next years. The relocation of the civic center and the construction of new subways from north to south are showing that it is time of develop the south part of the city. New and important real estate business will be news in short or medium term.

Even though its plateau, the north hasn’t been the center of important investment opportunities, Palermo, Recoleta, Retiro and Belgrano are its main neighborhood.

Recoleta is one of the neighborhoods of Buenos Aires most estimated by its diversity in alternatives of entertainment, cultural and purchases options, but it is also one of the most wanted neighborhoods for renting apartments or buying properties for investment.

The famous Alvear Avenue, one of the most exclusive ones, which concentrates the most luxurious mansions of the city, also offers important houses fashionable internationally and hotels of prestige as the “Alvear” or the “Palace Duhau”.

To rent in Recoleta, is a good choice and a great possibility of living around the best restaurants in the city, pubs, the hippie fair on Saturdays and Sundays, the National Museum of Fine Arts, the Village Recoleta with its 12 cinemas, bookshops, bars and galleries of art.

Furnished apartments available for temporary rent in Buenos Aires of 2 or 3 rooms are the most wanted, but the one room apartments, called studio, has also very high demand. Apartments Buenos Aires as business offer multiple advantages.

Many investors have chosen Recoleta, as investment, buying residences that then, rent furnished to tourists for short stays, assuring them a return of investment, an extremely attractive business. The business is to accede to a real estate business with a minimal investment and to obtain a rent similar to the one that might be obtained in European countries or The United States.

Recoleta has a lot to offer to tourist and investors that think in Argentina
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While in Spain they are sorry for a report from the IMF that assures that the country will suffer an important deceleration in the growth, and the Spanish look with suspicion and blame an adjustment of the real-estate market that already is originating the closing of 50 % of the real estate agencies, many investors already are thinking about destinations with better forecasts, such it is the case of Argentina, Russia, Romania and Uruguay.

Moreover, it was recently known that Argentinean Allowance Funds will invest in real estate; from offices, to commercial sector and apartments in Buenos Aires, besides an investment in energy, which overcomes 300 million dollars.

The expectation that is generating the advertisement concerning the relocation of the civic center in the south part of the city, and the plan of investments projects are significant movement of funds from the sector towards the construction. It was also known the amount will be destined to the extension of undergrounds, for the period 2008 / 11; ranges in 2.000 million Euros and undoubtedly it will be another trigger factor for new changes in the urban planning of next years.

Investment and more investment are positive information that the market marks for the medium term in Buenos Aires. Surely we will see new developments, new towers and apartments in Buenos Aires for the next years.
Inside the neighborhoods most looked for investments are Puerto Madero, Palermo and Recoleta.

If we have to make a quick balance of the last few years about the inversion in real estate business, we will be able to say that the growth is the main characteristic.

Rates and reality show that Argentinean economic growth has no interruption during these years and it is also being significant, even more than neighboring countries such The Economist point out in a recent article; it indicates a 9% increase in contrast with Brazilian economy. Tourism peak is another beneficial factor that influences in this development, showing a progressive increase as a tendency, it adds year by year more foreign visitants. Also, building industry shows a stage of plateau (for local reason) that motivates the increase of the square meter of construction for certain areas, seeming to be the trend within short term in Buenos Aires. Specialists think that the increase in the price of the square meter is an opportunity of investment to take into account, the same happens with the renting apartment segment. The supply revalues each property, an equation that is profitable to whom invested and also to invest nowadays considering the prediction of this tendency.

“Las Cañitas” and “La Imprenta” for example are ideal areas to invest in Palermo; it has an important supply of new buildings (a total of 42 constructions) most of them are residential buildings; this is a thing that must be pointed out. In 2005 the price of the square meter was approximately of USD 1450; in 2006 it was of USD 1600; in 2007 it was of USD 1980, finally in 2008 it reaches USD 2350. This shows an increase of the 18% in the last year. “Las Cañitas de Palermo” is a good opportunity of investment being also profitable in other neighborhoods of Buenos Aires.

Those who are interested in renting apartments, will be favored because the return rates are the highest in the world, the lodging demand of foreign people is evident, the tourism boom, the benefit in the currency and the life standard of the city, make foreign people (specially Europeans and Americans) to invest in Buenos Aires’s properties; not only to live in but also as a business.

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Buying apartments in Buenos Aires is an excellent opportunity even for the smallest investors. The newest tendency is to buy and equip apartments for frequent flyers and put them for temporary rent. This gives a much better income than if you offer it on traditional rent. Doing this the apartment’s owner has the security that its apartment is in good hands.

There are no restrictions for foreigners to buy a property in Argentina, no matter the propose of the transaction. The selling process is very simple and it last one or two months.

Argentina has become a very important tourist destination. Its capital, Buenos Aires, is one of the biggest cities in America, full of a community colonized by flyers from all over the world.

The old fashioned buildings that you will see on the avenues, will remind you to your old families in Europe. And only minutes far from these classic views, you will find this luxurious sky crafts build by famous characters such as Starck, Hok Sustainable, Pelli and some others. The city will invite you to sightseeing to all the splendor of a first world city.

The impressive malls full of leather and high quality products, the parks and gardens of Recoleta which you will find along dozens of blocks of the “Little Paris”, the colorful La Boca and the cultural fresh air of San Telmo, are the most popular places for tourists to visit. But what you may find even more interesting is how you can access to a luxurious lifestyle, with an European style but with a very cheap rate hard to imagine thanks to the relation Peso/Euro which benefits tourists so much.

This is why Argentina is a place that most people take into account to make inversions. The last real state statistics show that there is being an increase in the purchase of properties for foreign people, in the modern areas as well as the traditional ones.

Neighbourhoods such as Puerto Madero, the most antique decks that now is well know for its architectonical south avant-garde, full of buildings made by the most famous designers of the world; the French style streets of Recoleta; or the modern popular areas of Palermo, that because the different options has been sub divided into 4 different areas, SOHO, Hollywood, Viejo and Las Cañitas. Those neighbourhoods are the favorites for those who want to buy a property in our country to have a profitable business.

In fact, the last news can identify frequent flyers that bought their properties for temporary rent for their stay, put them for temporary rent to other tourist and getting rents in dollars or euros much higher than traditional rents.

An economical stability market after the change offers new guarantees to all the financial operations in the country. The real State agencies are the only ones that really show an increase even after the last century crisis. This is because there is a legal framework that guarantees the property sale in Argentina, no matter where the buyer comes from or why he wants to buy it. Because of the benefit in the economical situation and the easy process, the locations in Buenos Aires have an average of 1600 dollars per square metre in San Telmo, agaist the 7000 dollars in Paris, or the 5400 dollars in Barcelona.

But also other determinant factor is the security that has the high lifestyles. Buenos Aires, being miles away from the war conflicts and international terrorism, is a safe and quiet place to live in. Because of this reality, the Real State agencies in the last decades are dedicated to make business with client in other countries. Alojargentina.com is today one of the most visited sites in the web leading the market and offering real state business for tourists that want to rent for short periods of time or also want to buy apartments in Buenos Aires. Big companies like this, are specialized on this type of customers and had developed new polices that are different from the one in the global market today.

We are aware of the customer’s new needs, that’s why buyers and customers get assistance from us during all the rental or selling process either online, by phone or in person in our offices.

This is not about a science fiction movie; it is how one of the most aristocratic spot in Buenos Aires is named. “La isla” is a gorgeous and privileged area in the city, which shows all over the streets elegant and residential buildings with surrounding gardens. Located into La Recoleta neighborhood is specially known because of the hill where this whole area It´s on. The stillness of the streets is because the of lower traffic and the beautiful constructions with European air grants a unique style that justifies “The little Paris” as a nickname.

Nowadays, the area boasts luxurious buildings, embassies, and many historic and emblematic facades from the golden beginning of XX century in Argentina. By stairway is the main access going through the Plaza Mitre on Ave. del Libertador, next to the British Embassy. As this is a very delimited zone, ain´t no more grounds to build and the properties are valued as the most highest in the city (similar with Puerto Madero area). The price depends so much on the street, the building and flat characteristics as if the property is French style or modern. Talking about size, some properties are larger than 6500 ft2. This is the reason because the decision about sale or buying takes longer than other areas. The neighbors are very loyal and the offers very limited. The area is not just exclusive for their high price, furthermore because it keeps a constant style unalterable from ever. Is not very usual that locals plan to move from this place except when necessary moving to other countries or to a ranch in Argentina. Some owners living abroad had chosen to offer their properties for temporary furnished rental.

This is a very good chance for foreign people to spend some time during the stay enjoying the atmosphere and charming place. There are many attractive places in the area as the Evita Peron monument, the National Library (with a amazing view over the port and Rio de la Plata), and just 4 block away the Recoleta Cementery and a few more to the MALBA (Latin American Modern Art Museum).