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Where is the land that sold for three times its initial value in less than four hours? - La Nacion Propiedades
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www.lanacion.com.ar
September 03, 2025
Where is the land that sold for three times its initial value in less than four hours?
The lot auctioned by Banco Ciudad was under bidding by developers for more than three hours.
The land was in dispute for more than three hours between 10 interested parties. Gonzalo Colini
In a context of rising prices , a dollar that's increasingly close to the ceiling of the exchange rate band , and continued high construction costs , land remains a scarce and valuable commodity in the city of Buenos Aires. So much so that an important area, which had lagged behind compared to other sectors of the city, was back on the agenda after an auction that brought together more than 10 players in the sector .
On August 29, Banco Ciudad held a public auction of a plot of land in the Villa Urquiza neighborhood , which kept developers in dispute for more than three hours . Located at 2200 Holmberg Street, on the corner of Mendoza Street, the property sold for US$2,557,000, more than triple its base price of US$820,770.52.
The urban lot, free of improvements, has a total area of 1,627.37 m² and is located in one of the neighborhood's most coveted areas: the Donado-Holmberg (DoHo) gastronomic and commercial hub . The competition for this land demonstrates that there is still interest in the area and that market players see potential in it.
Land sold in the DoHo area of Villa Urquiza
The DoHo, which extends over the parallel streets Donado and Holmberg , on the border between Villa Urquiza and Villa Ortúzar, has consolidated itself in recent years as a pole of attraction for investors, developers and the general public . Its proposal recalls other Buenos Aires hotspots such as Las Cañitas, in Palermo, or Pedro Goyena Avenue, in Caballito, although with a peculiarity that the others do not have: the phenomenon is concentrated in a few blocks and with a strong gastronomic and commercial imprint .
That gap has made used market prices more attractive—with real values remaining at 2006 levels—although the expectation of stabilizing construction costs keeps the push for development from the ground up alive .
Currently, building a home in Buenos Aires costs between US$1,500 and US$1,700 per m² in its standard version, although it can climb to US$3,000 per m² with premium materials .
However, industry experts warn that, in light of the recent rise in the dollar—which climbed $25 earlier this week and reached near the top of the exchange rate band— the rise in construction costs appears to be leveling off , which represents a relief after months of significant increases. However, they also do not believe that "the recent rise in the dollar will have a significant impact, although this remains to be seen," they maintain.
Rising construction costs appear to be plateauing. Shutterstock
According to the latest survey by Reporte Inmobiliario on urban land with buildable capacity in Buenos Aires (June 2025), the average land value is US$491/m² , just 1.8% higher than last year. Even so, it is still 25% lower than in 2018, and in real terms, the drop reaches 40%. “This scenario of sustained values is occurring precisely when the development sector is experiencing a complicated situation in which rising costs in dollars are making real estate projects unprofitable, so we could expect that in the medium term, land values will resume their downward trend ,” stated Reporte Inmobiliario.
No neighborhood exceeds an average cost of US$1,000/m² . Belgrano is the closest to this limit, reaching US$882/m²; last year, Palermo was the neighborhood with the highest cost. The next most expensive neighborhood is Barrio Norte, where the average cost is US$768/m².
On the other hand, the lowest average incidence recorded is US$75/m² and is found in La Boca. In second place is the Constitución neighborhood, with a value of US$80/m². These two neighborhoods have the lowest average land values in the city.
While in Villa Urquiza , where the record sale of Holmberg and Mendoza took place, the average price is US$545/m² , with minimums of US$251/m² and maximums of US$919/m², which makes it clear that the price for which this lot was sold (US$1,571/m²) was positioned near the highest ranges of the market, below the maximum price of Palermo (US$2,375/m²) and Belgrano (US$1,729/m²), but above that of Colegiales (US$1,250/m²) and Barrio Norte (US$1,029/m²), for example.
In Villa Urquiza, the average incidence is US$545 per m². Gonzalo Colini
The fact that a plot of land in the heart of Villa Urquiza has sold at the top of the market demonstrates that the area has indeed emerged from obscurity and remains on developers' radar.
www.buysellba.com
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Dónde queda el terreno que se vendió por el triple de su valor inicial en menos de cuatro horas
El lote que subastó el Banco Ciudad estuvo en puja por los desarrolladores por más de tres horas
www.lanacion.com.ar
September 03, 2025
Where is the land that sold for three times its initial value in less than four hours?
The lot auctioned by Banco Ciudad was under bidding by developers for more than three hours.
The land was in dispute for more than three hours between 10 interested parties. Gonzalo Colini
In a context of rising prices , a dollar that's increasingly close to the ceiling of the exchange rate band , and continued high construction costs , land remains a scarce and valuable commodity in the city of Buenos Aires. So much so that an important area, which had lagged behind compared to other sectors of the city, was back on the agenda after an auction that brought together more than 10 players in the sector .
On August 29, Banco Ciudad held a public auction of a plot of land in the Villa Urquiza neighborhood , which kept developers in dispute for more than three hours . Located at 2200 Holmberg Street, on the corner of Mendoza Street, the property sold for US$2,557,000, more than triple its base price of US$820,770.52.
The urban lot, free of improvements, has a total area of 1,627.37 m² and is located in one of the neighborhood's most coveted areas: the Donado-Holmberg (DoHo) gastronomic and commercial hub . The competition for this land demonstrates that there is still interest in the area and that market players see potential in it.
Land sold in the DoHo area of Villa Urquiza
The DoHo, which extends over the parallel streets Donado and Holmberg , on the border between Villa Urquiza and Villa Ortúzar, has consolidated itself in recent years as a pole of attraction for investors, developers and the general public . Its proposal recalls other Buenos Aires hotspots such as Las Cañitas, in Palermo, or Pedro Goyena Avenue, in Caballito, although with a peculiarity that the others do not have: the phenomenon is concentrated in a few blocks and with a strong gastronomic and commercial imprint .
A surprising fact
The interest in land is surprising at a time when project profitability is under pressure . Between October 2023 and June 2025, construction costs in dollars rose 126% , while the saleable square meter increased only 23.9% over the same period.That gap has made used market prices more attractive—with real values remaining at 2006 levels—although the expectation of stabilizing construction costs keeps the push for development from the ground up alive .
Currently, building a home in Buenos Aires costs between US$1,500 and US$1,700 per m² in its standard version, although it can climb to US$3,000 per m² with premium materials .
However, industry experts warn that, in light of the recent rise in the dollar—which climbed $25 earlier this week and reached near the top of the exchange rate band— the rise in construction costs appears to be leveling off , which represents a relief after months of significant increases. However, they also do not believe that "the recent rise in the dollar will have a significant impact, although this remains to be seen," they maintain.
Rising construction costs appear to be plateauing. Shutterstock
According to the latest survey by Reporte Inmobiliario on urban land with buildable capacity in Buenos Aires (June 2025), the average land value is US$491/m² , just 1.8% higher than last year. Even so, it is still 25% lower than in 2018, and in real terms, the drop reaches 40%. “This scenario of sustained values is occurring precisely when the development sector is experiencing a complicated situation in which rising costs in dollars are making real estate projects unprofitable, so we could expect that in the medium term, land values will resume their downward trend ,” stated Reporte Inmobiliario.
No neighborhood exceeds an average cost of US$1,000/m² . Belgrano is the closest to this limit, reaching US$882/m²; last year, Palermo was the neighborhood with the highest cost. The next most expensive neighborhood is Barrio Norte, where the average cost is US$768/m².
On the other hand, the lowest average incidence recorded is US$75/m² and is found in La Boca. In second place is the Constitución neighborhood, with a value of US$80/m². These two neighborhoods have the lowest average land values in the city.
While in Villa Urquiza , where the record sale of Holmberg and Mendoza took place, the average price is US$545/m² , with minimums of US$251/m² and maximums of US$919/m², which makes it clear that the price for which this lot was sold (US$1,571/m²) was positioned near the highest ranges of the market, below the maximum price of Palermo (US$2,375/m²) and Belgrano (US$1,729/m²), but above that of Colegiales (US$1,250/m²) and Barrio Norte (US$1,029/m²), for example.
In Villa Urquiza, the average incidence is US$545 per m². Gonzalo Colini
The fact that a plot of land in the heart of Villa Urquiza has sold at the top of the market demonstrates that the area has indeed emerged from obscurity and remains on developers' radar.
www.buysellba.com
