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Real Estate Sales Another micro-neighborhood of Buenos Aires' Palermo - Palermo Freud

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Argentina, among its many distinctions, stands out for having the highest concentration of psychologists per capita globally. This phenomenon is particularly pronounced in its capital city, where a specific enclave within Buenos Aires has gained renown as Palermo Freud due to its staggering density of therapists.

Nestled adjacent to the picturesque Plaza Güemes, Palermo Freud, constitutes a micro-neighborhood within the expansive Palermo district. Beyond merely hosting a plethora of therapists' offices, the culture of psychoanalysis permeates every facet of life in Palermo Freud. Local bookstores and newspapers prominently feature literature on the subject, while cafes and bars themed around Freud abound, offering visitors a unique immersion into the world of psychoanalysis.

While various branches of psychology such as cognitive and behavioral therapy are also prevalent, Argentinians maintain a strong affinity for psychoanalysis, the pioneering method introduced by Sigmund Freud. The reasons for its enduring popularity in the country are subject to numerous interpretations. Some attribute it to Argentina's introspective and accepting culture, which lacks the same level of stigma associated with mental health prevalent in other regions.

The surge in therapy gained momentum in the 1940s when Angel Garma, a Spanish immigrant trained in psychoanalysis by individuals who had directly studied under Freud himself, arrived in Argentina to investigate his father's death. Bringing his expertise with him, Garma's presence catalyzed the spread of psychoanalysis across the nation. Present estimates indicate that Argentina boasts nearly 200 practicing psychologists per 100,000 individuals, with almost half of them concentrated in Buenos Aires.

Brand new in Palermo Freud - Reporte Inmobiliario​


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Source:




March 19, 2024


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Another area of Buenos Aires that broke a 4-year streak of consecutive falls in values for new apartments. 19th annual survey of Palermo Freud-Plaza Guemes.
Palermo is the largest neighborhood in the city of Buenos Aires. With almost 16 km2 of surface, it offers very different contexts in different areas of its geography, hence some of them were commercially renamed with the name of the neighborhood followed by some characteristic that identifies the distinctive particularities of each sector.

Thus, the area included by Avdas. Scalabrini Ortiz, Santa Fe, Coronel Diaz and Soler Street adopted the first name of “Villa Freud” and later the more commercial name of “Palermo Freud” due to the significant agglomeration of psychology professionals within that perimeter decades ago. The area is also often called “Plaza Guemes”.


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For the nineteenth consecutive year, the Real Estate Report surveyed the buildings under construction or recently completed in said area, currently detecting 26 real estate developments on the 40 blocks involved among the indicated streets.

The work surface contained among the set of developments in progress currently totals 62,892 m2, having reduced slightly compared to the past 3 years.
The predominant environmental composition in most projects continues to be 1-bedroom units, with a lower participation of studio apartments and two-bedrooms.
The current average price per m2 of the sample is located at US$ 3,504, which compared to the US$ 3,293 average value existing a year ago shows an improvement of 6.40%, thus breaking a 4-year streak of consecutive falling prices.


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The values requested in the different projects are between US$S/m2 3,181 and US$S/m2 4,239 for units located on the middle floors of the buildings. Last year the price range was between US$3,114/m2 and US$3,688/m2.

For the garages, from US$35,000 to US$40,000 are requested for each unit within the analyzed projects, also one step more than what was requested in 2023.


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THE USED IN THE AREA​

If exactly the same area is analyzed with the “Market Analytics” tool of the Real Estate Report that reflects the prices of the properties offered in the area, it can be seen that for the one used, average values are requested from US$ 2,281/m2 for units of 4 rooms up to US$ 2,602/m2 for the smallest one-room units.

The difference in value between the used 2-room and the brand-new 2-room is on average 30.3% for this area.


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On the other hand, also with Market Analytics it can be verified that 850 apartment units are currently offered in the area. 24 months ago, 1,296 were offered for sale in the same area.

At the time of the last census, the number of inhabitants was 46,932 inhabitants, 42% of them with university studies and 68% occupying the home as owners.


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www.buysellba.com
 
Wow are garage spaces (cocheras) really going for $35,000 to $40,000 USD now??? I thought they were only going for around $20k.
Prices keep going up for them especially in Palermo and Recoleta. I am kicking myself for not buying one when I bought my apartment many years ago. I could have bought one for $15,000 and I passed on it and regret it now.
That is pretty steep but what is happening is that many of the bigger private garages around Recoleta and Palermo are all selling to developers so developers can build a building. So this land is extremely valuable. As more and more of them close, it is harder and harder to get parking spaces and the rents each month keep going up. So the value on them, especially in Recoleta and Palermo should probably keep moving up.

I formally owned a lot of garage spaces that I purchased with apartments back in the early 2000's. I purchased them for about $9,000 to $10,000 back then. When I sold them they were going for about $20,000 to $25,000 @. In some buildings it can be several hundreds of dollars per month to rent a space. I never used any of mine that I owned. I always rented them out to tenants in the building.

Palermo Freud and the general area should experience lots of growth. Soho is good for tourists if they are only in town for a week or so. But for everyday living, I prefer this area and also Recoleta. Locals really love this area. I believe the entire area from Scalabrini Ortiz - Las Heras - Gallo - Solar will have tremendous growth and appeal over the next several years heading into the future.

Back very early I predicted the same thing for Palermo Soho and Palermo Hollywood and that turned out exactly as I imagined. I did this interview in late 2005 but I started buying up tons of land, apartments and houses in Soho and Hollywood in 2002-2005 leading up to this article and after it as well. We flipped just about everything there but we nailed it on what it would turn into. I feel a little guilty to be honest that it turned into "Disneyland".

 
OMG does Buenos Aires really have this many therapists?? Do they all stay busy? That is insane the amount of therapists. I get so confused as there are so many Palermo's. The ones I heard of are Palermo Hollywood, Soho, Chico, Greens, and now Freud. LOL. Funny.

I saw this list. Are there more?

 
Just in the last week I learned of Palermo Green. And now this is the first time I heard Palermo Freud. I guess this makes sense since Palermo is such a massive area to separate all the different parts of Palermo. I guess a good marketing by the city.

That is pretty steep but what is happening is that many of the bigger private garages around Recoleta and Palermo are all selling to developers so developers can build a building. So this land is extremely valuable. As more and more of them close, it is harder and harder to get parking spaces and the rents each month keep going up. So the value on them, especially in Recoleta and Palermo should probably keep moving up.

I formally owned a lot of garage spaces that I purchased with apartments back in the early 2000's. I purchased them for about $9,000 to $10,000 back then. When I sold them they were going for about $20,000 to $25,000 @. In some buildings it can be several hundreds of dollars per month to rent a space. I never used any of mine that I owned. I always rented them out to tenants in the building.

Palermo Freud and the general area should experience lots of growth. Soho is good for tourists if they are only in town for a week or so. But for everyday living, I prefer this area and also Recoleta. Locals really love this area. I believe the entire area from Scalabrini Ortiz - Las Heras - Gallo - Solar will have tremendous growth and appeal over the next several years heading into the future.

Back very early I predicted the same thing for Palermo Soho and Palermo Hollywood and that turned out exactly as I imagined. I did this interview in late 2005 but I started buying up tons of land, apartments and houses in Soho and Hollywood in 2002-2005 leading up to this article and after it as well. We flipped just about everything there but we nailed it on what it would turn into. I feel a little guilty to be honest that it turned into "Disneyland".

I was wondering about how garage spaces were valued and how the values have gone up/down over time. I am looking at some apartments and some areas are much higher than other areas. It is helpful to understand why they are going up so drastically. I guessed that these garages are closing down to get developed.
 
Just in the last week I learned of Palermo Green. And now this is the first time I heard Palermo Freud. I guess this makes sense since Palermo is such a massive area to separate all the different parts of Palermo. I guess a good marketing by the city.


I was wondering about how garage spaces were valued and how the values have gone up/down over time. I am looking at some apartments and some areas are much higher than other areas. It is helpful to understand why they are going up so drastically. I guessed that these garages are closing down to get developed.
Lots of garage spaces in Soho are going for almost $40,000. My friend just bought one for $39,000. If you look on Zonaprop on some listings you will see the price of the garage spaces under cochera. During COVID the prices on garages went way down but they are skyrocketing now. As @earlyretirement mentioned, many of these public garages that you see are all closing and selling to builders so soon there will probably be not too many of these garages. Plus with increased crime, it is difficult to park your car on the street so everyone wants a private garage space.

cochera susan bought.jpg

 
Lots of garage spaces in Soho are going for almost $40,000. My friend just bought one for $39,000. If you look on Zonaprop on some listings you will see the price of the garage spaces under cochera. During COVID the prices on garages went way down but they are skyrocketing now. As @earlyretirement mentioned, many of these public garages that you see are all closing and selling to builders so soon there will probably be not too many of these garages. Plus with increased crime, it is difficult to park your car on the street so everyone wants a private garage space.

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Wow!!! I did not know cocheras so expensive in the city! That is crazy!
 
That is pretty steep but what is happening is that many of the bigger private garages around Recoleta and Palermo are all selling to developers so developers can build a building. So this land is extremely valuable. As more and more of them close, it is harder and harder to get parking spaces and the rents each month keep going up. So the value on them, especially in Recoleta and Palermo should probably keep moving up.

I formally owned a lot of garage spaces that I purchased with apartments back in the early 2000's. I purchased them for about $9,000 to $10,000 back then. When I sold them they were going for about $20,000 to $25,000 @. In some buildings it can be several hundreds of dollars per month to rent a space. I never used any of mine that I owned. I always rented them out to tenants in the building.

Palermo Freud and the general area should experience lots of growth. Soho is good for tourists if they are only in town for a week or so. But for everyday living, I prefer this area and also Recoleta. Locals really love this area. I believe the entire area from Scalabrini Ortiz - Las Heras - Gallo - Solar will have tremendous growth and appeal over the next several years heading into the future.

Back very early I predicted the same thing for Palermo Soho and Palermo Hollywood and that turned out exactly as I imagined. I did this interview in late 2005 but I started buying up tons of land, apartments and houses in Soho and Hollywood in 2002-2005 leading up to this article and after it as well. We flipped just about everything there but we nailed it on what it would turn into. I feel a little guilty to be honest that it turned into "Disneyland".

I agree this is a nice area. Great call on Palermo Soho/Hollywood area.
 
Wow are garage spaces (cocheras) really going for $35,000 to $40,000 USD now??? I thought they were only going for around $20k.
When I was shopping a few months ago I had seen some apartments going for less than 100k(or right around) with a cochera/garage. Amazing that that would be almost half the cost now. I forget exactly where but definitely in Palermo.
 
When I was shopping a few months ago I had seen some apartments going for less than 100k(or right around) with a cochera/garage. Amazing that that would be almost half the cost now. I forget exactly where but definitely in Palermo.
Wow let me know if you know of any deals like that now @FuturoBA . My biggest issue is that I really must have a 2 bedroom apartment as I need the extra space. What I noticed is a big price difference between one bedroom and 2 bedroom apartments. It jumps up significantly. I am still trying to wrap my head around no mortgages. I have bought a few properties but always with a mortgage.
 
Wow let me know if you know of any deals like that now @FuturoBA . My biggest issue is that I really must have a 2 bedroom apartment as I need the extra space. What I noticed is a big price difference between one bedroom and 2 bedroom apartments. It jumps up significantly. I am still trying to wrap my head around no mortgages. I have bought a few properties but always with a mortgage.
Most of the ones I had looked at were 1br. There was a a 2br/1.5ba that was interesting and newly renovated that I had saved, but no longer see in my list. Either it's been sold or taken off the market. Or if you're lucky, taken off and re-listed.
 
When I was shopping a few months ago I had seen some apartments going for less than 100k(or right around) with a cochera/garage. Amazing that that would be almost half the cost now. I forget exactly where but definitely in Palermo.
Well you have to keep in mind that many of those types of listings on Zonaprop are fake or inaccurate or a bait and switch to try to get you to contact them. It would be VERY difficult to find an apartment in Palermo that included a garage for $100,000. In the listings like that in my experience, it is usually false info. I have seen several like that just to get a potential buyer to contact the listing agent.

Also, lately what I am seeing is owners listing properties in other less desirable areas but tagging it in Palermo Soho or Hollywood even though it might be in Almagro or other areas further out.

Wow let me know if you know of any deals like that now @FuturoBA . My biggest issue is that I really must have a 2 bedroom apartment as I need the extra space. What I noticed is a big price difference between one bedroom and 2 bedroom apartments. It jumps up significantly. I am still trying to wrap my head around no mortgages. I have bought a few properties but always with a mortgage.
Yes as you noted there is a significant difference between 1 bedroom and 2 bedroom apartments. Property in Buenos Aires is all priced per sq. meter based on the different neighborhood so you can get a general idea of how much you will spend. You can go on this website and click on each neighborhood on the "learn more" and see what median listing prices are per sq. meter.

No doubt it is very different to purchase real estate without a mortgage but I've been doing it for 22 years all over Latin America. It has worked out in every single property I have purchased. The carrying costs are quite low compared to the USA on properties in Buenos Aires. The arbitrage with having your income in US Dollars and having your expenses in Argentine pesos has been great. Plus, honestly once you buy your property, it's paid for and it's forever yours. Many people in the USA think they own their property. They don't, the bank does until it's paid off.

 
Great call on Soho. Just read that old article. Hindsight is 20/20. I saw that properties back then in Puerto Madero were only $2,200 to $3,000 m2. Now some people are paying $6,000 m2 for them. I don't get that. How are people justifying that properties there are worth so much more than other areas? Some of my wife's friends are buying in new developments that won't be done for many years and they are paying insane prices. It's a head-scratcher to me.
 
Well you have to keep in mind that many of those types of listings on Zonaprop are fake or inaccurate or a bait and switch to try to get you to contact them. It would be VERY difficult to find an apartment in Palermo that included a garage for $100,000. In the listings like that in my experience, it is usually false info. I have seen several like that just to get a potential buyer to contact the listing agent.


You're right I didn't look at those listings, but still 40k sounds steep. Maybe we're referring to different things. Is that for a personal parking space inside a shared parking garage, or an either attached or detached personal garage? Zonaprop seems to list just a parking space for as low as 10-15k
 
You're right I didn't look at those listings, but still 40k sounds steep. Maybe we're referring to different things. Is that for a personal parking space inside a shared parking garage, or an either attached or detached personal garage? Zonaprop seems to list just a parking space for as low as 10-15k
The private garages within your own apartment building are the ones that are very expensive now. Many of those listings look like a space in a public garage. You can see in one of the listings the Estacionamento blue and white sign. Many people don't like those as there are always strangers coming and going and not as safe.

I personally wouldn't pay 40k for a private garage. Many of those public garages are getting sold to build buildings. I wonder what happens when they want to sell and if the owners of the spaces share in the profits to sell or how that is handled.
 
You're right I didn't look at those listings, but still 40k sounds steep. Maybe we're referring to different things. Is that for a personal parking space inside a shared parking garage, or an either attached or detached personal garage? Zonaprop seems to list just a parking space for as low as 10-15k
These look like spaces in garages. I know at least in my apartment building, for safety reasons, owners can't sell their garage spaces unless it is an existing owner in the building. They do this for security. I think most buildings were shifting over to that same requirement. They had incidents in my building where they sold it and thieves were breaking into cars so they changed it to only owners in the building.
 
The private garages within your own apartment building are the ones that are very expensive now. Many of those listings look like a space in a public garage. You can see in one of the listings the Estacionamento blue and white sign. Many people don't like those as there are always strangers coming and going and not as safe.

I personally wouldn't pay 40k for a private garage. Many of those public garages are getting sold to build buildings. I wonder what happens when they want to sell and if the owners of the spaces share in the profits to sell or how that is handled.

These look like spaces in garages. I know at least in my apartment building, for safety reasons, owners can't sell their garage spaces unless it is an existing owner in the building. They do this for security. I think most buildings were shifting over to that same requirement. They had incidents in my building where they sold it and thieves were breaking into cars so they changed it to only owners in the building.
That makes sense now. Thanks for the clarification.
 
OMG does Buenos Aires really have this many therapists?? Do they all stay busy? That is insane the amount of therapists. I get so confused as there are so many Palermo's. The ones I heard of are Palermo Hollywood, Soho, Chico, Greens, and now Freud. LOL. Funny.

I saw this list. Are there more?

Yes BA has the most therapists in the world. All stay very busy. It funny but my therapist live in Palermo Freud! Very good area so you do good @FuturoBA. Close by Alto Palermo is a very nice area and great public transportation. All the things are closeby. Congratulations.
 
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