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The top Buenos Aires neighborhood with a record of projects - La Nación Propiedades
Source:
www.lanacion.com.ar
September 19, 2023
Candelaria Reinoso Taccone
Delimited by Figueroa Alcorta, Pueyrredón, Las Heras avenues and República de la India street, the area has a total of 27 ongoing ventures.
In a surprising achievement, the area surrounding Parque las Heras demonstrated that it resists the onslaught of the real estate market for the third consecutive year, according to the latest annual report from Real Estate Report. This study, which covers a region that includes part of the exclusive neighborhoods of Recoleta and Palermo, recorded an increase in the number of new developments and reached its highest point in the last 11 years, both in terms of meters under construction and projects.
The modern towers, part of the postcard of an area that registers an average value per square meter of around US$4,323.
The area under investigation, delimited by Figueroa Alcorta, Pueyrredón, Las Heras avenues and República de la India street, revealed a total of 27 projects, some in various phases of construction and others recently completed, totaling an estimated area of 97,341 square meters. on offer. This represents an increase in the number of developments compared to the previous year, which registered 88,903 m², and constitutes the highest figure since 2010, when the area reached 108,082 square meters.
“Las Heras Avenue experienced a notable development with the construction of projects of different sizes that take advantage of its strategic location and offer views of the green surroundings of Plaza Las Heras,” mentions Ignacio Camps, director of Evoluer Real Estate and adds: “Today Today, thanks to advances in building materials, street noise is greatly reduced, and prices in this area allow developers to make more solid profits compared to higher density areas, where landowners take most of the profits.”
Average prices per square meter in dollars increased by 0.34%.
But not only the number of developments increased but also the average prices per square meter in dollars: a modest 0.34%, making this area of the city one of the few in Buenos Aires that managed to maintain its values during recent years. , although it should be noted that these current values go back to the levels recorded six or seven years ago.
Currently, the average value per square meter is US$4,323 , slightly higher than the US$4,308/m² recorded a year ago. “The area delimited by Figueroa Alcorta, Pueyrredón, Las Heras avenues and República de la India street was historically one of the most sought after locations in the city, both by those looking for a place to live and by those looking to invest with the objective to obtain an income and, at the same time, protect your capital ” says Facundo Soldati, partner at Soldati Propiedades.
The neighborhood registers 97,341 square meters in projects under construction
Soldati highlights that in recent years this area has experienced a considerable increase in the number of premium developments, which in fact are the ones that have best defended their prices. Regarding the types of properties offered, he observes an increase in the number of units intended for the final consumer , such as 3- and 4-bedroom residences. However, the “investor ticket” market, which seeks one- and two-room units, is still relevant.
Soldati adds: “Many important developers continue to invest in this area by acquiring the few lands that are still available. The reason is that this area is the one that best resists changes in prices during times of crisis and the first to recover during times of prosperity.”
Unusual temperatures for the month of June. Las Heras Park and surroundings
Regarding what may be the reasons that drive the construction of real estate projects. One of them, without a doubt, is the investment of savers who, facing restrictions on the acquisition of dollars, chose to allocate their resources to the real estate sector, thus avoiding the depreciation of their savings. Additionally, construction costs measured in dollars remained relatively stable due to fluctuations in the currency, which accelerated the launch of previously on-hold projects.
Germán Gómez Picasso, one of the directors of Reporte Inmobiliario, adds one more point: “in this area we even find examples such as typical PHs with multiple owners, where builders end up acquiring all the units and demolishing the building to make way for new opportunities” He explains. In addition, he mentions that these developments respond to the availability of land for sale, multipurpose spaces and garages, some of which have been in the process of negotiation for decades.
On the other hand, Martín Boquete, director of Toribio Achával, emphasizes that, although prices per square meter remain firm and even appear to be on the rise, this reflects more of a sustained recovery than a construction boom. Boquete points out that many developers still have land to build on, some in their possession since before 2018, but chose not to start projects after the economic crisis, while others acquired them at the end of 2020.
In this context, he warns that the ideal time to purchase could be right now, since " these are the lowest prices we will see." A phenomenon that, according to the specialist, would become a unique opportunity for those who wish to invest in the real estate market before prices stabilize or even increase in the near future.
By Candelaria Reinoso Taccone
www.buysellba.com
Source:
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www.lanacion.com.ar
September 19, 2023
The top Buenos Aires neighborhood with a record of projects under construction and apartments that do not drop in price
Candelaria Reinoso Taccone
Delimited by Figueroa Alcorta, Pueyrredón, Las Heras avenues and República de la India street, the area has a total of 27 ongoing ventures.
In a surprising achievement, the area surrounding Parque las Heras demonstrated that it resists the onslaught of the real estate market for the third consecutive year, according to the latest annual report from Real Estate Report. This study, which covers a region that includes part of the exclusive neighborhoods of Recoleta and Palermo, recorded an increase in the number of new developments and reached its highest point in the last 11 years, both in terms of meters under construction and projects.
The modern towers, part of the postcard of an area that registers an average value per square meter of around US$4,323.
The area under investigation, delimited by Figueroa Alcorta, Pueyrredón, Las Heras avenues and República de la India street, revealed a total of 27 projects, some in various phases of construction and others recently completed, totaling an estimated area of 97,341 square meters. on offer. This represents an increase in the number of developments compared to the previous year, which registered 88,903 m², and constitutes the highest figure since 2010, when the area reached 108,082 square meters.
“Las Heras Avenue experienced a notable development with the construction of projects of different sizes that take advantage of its strategic location and offer views of the green surroundings of Plaza Las Heras,” mentions Ignacio Camps, director of Evoluer Real Estate and adds: “Today Today, thanks to advances in building materials, street noise is greatly reduced, and prices in this area allow developers to make more solid profits compared to higher density areas, where landowners take most of the profits.”
Average prices per square meter in dollars increased by 0.34%.
But not only the number of developments increased but also the average prices per square meter in dollars: a modest 0.34%, making this area of the city one of the few in Buenos Aires that managed to maintain its values during recent years. , although it should be noted that these current values go back to the levels recorded six or seven years ago.
Currently, the average value per square meter is US$4,323 , slightly higher than the US$4,308/m² recorded a year ago. “The area delimited by Figueroa Alcorta, Pueyrredón, Las Heras avenues and República de la India street was historically one of the most sought after locations in the city, both by those looking for a place to live and by those looking to invest with the objective to obtain an income and, at the same time, protect your capital ” says Facundo Soldati, partner at Soldati Propiedades.
The neighborhood registers 97,341 square meters in projects under construction
Soldati highlights that in recent years this area has experienced a considerable increase in the number of premium developments, which in fact are the ones that have best defended their prices. Regarding the types of properties offered, he observes an increase in the number of units intended for the final consumer , such as 3- and 4-bedroom residences. However, the “investor ticket” market, which seeks one- and two-room units, is still relevant.
Soldati adds: “Many important developers continue to invest in this area by acquiring the few lands that are still available. The reason is that this area is the one that best resists changes in prices during times of crisis and the first to recover during times of prosperity.”
Unusual temperatures for the month of June. Las Heras Park and surroundings
Regarding what may be the reasons that drive the construction of real estate projects. One of them, without a doubt, is the investment of savers who, facing restrictions on the acquisition of dollars, chose to allocate their resources to the real estate sector, thus avoiding the depreciation of their savings. Additionally, construction costs measured in dollars remained relatively stable due to fluctuations in the currency, which accelerated the launch of previously on-hold projects.
Germán Gómez Picasso, one of the directors of Reporte Inmobiliario, adds one more point: “in this area we even find examples such as typical PHs with multiple owners, where builders end up acquiring all the units and demolishing the building to make way for new opportunities” He explains. In addition, he mentions that these developments respond to the availability of land for sale, multipurpose spaces and garages, some of which have been in the process of negotiation for decades.
On the other hand, Martín Boquete, director of Toribio Achával, emphasizes that, although prices per square meter remain firm and even appear to be on the rise, this reflects more of a sustained recovery than a construction boom. Boquete points out that many developers still have land to build on, some in their possession since before 2018, but chose not to start projects after the economic crisis, while others acquired them at the end of 2020.
In this context, he warns that the ideal time to purchase could be right now, since " these are the lowest prices we will see." A phenomenon that, according to the specialist, would become a unique opportunity for those who wish to invest in the real estate market before prices stabilize or even increase in the near future.
By Candelaria Reinoso Taccone
www.buysellba.com
