CABA Real Estate Value Went Down 26.7 % in Dec. 2018

[Rich One]

Reported by Clarin that real estate the prices in Dollars dropped 26.7 % in Dec 2018 compared to previous Dec. Prices in pesos went up 57.9 % . The reported operations by the Notary Publics assoc. were down about 4 1%....

https://www.clarin.com/economia/inmuebles-cayo-26-diciembre-precio-promedio-dolares_0_9lsEst_DT.html

 

[Fiscal]

Still costs $1mm for a tiny depto in Puerta Madera

 

[Aztangogirl]

Still costs $1mm for a tiny depto in Puerta Madera

as it should. If you want to live in an exclusive area, you pay. I bought a very nice one bedroom apartment with nice views in Congresso for under 100 thousand U.S..

 

[Rich One]

Still costs $1mm for a tiny depto in Puerta Madera

Perhaps Dec 2017 was 1.26 MM...

 

[perry]

Real estate prices will go down up to 20% this year in US dollars due to many factors . Some neighbourhoods will lose more value due to the oversupply of apartments for sale and high maintenance fees . Recoleta and Puerto Madero will be highly affected . The best neighbourhoods that will retain its prices are Palermo Nuevo , Palermo Chico , and Palermo Soho for the simple reason that there are much less apartments for sale in these neighbourhoods and in the case of Palermo Nuevo and Palermo Chico also being the preferred neighbourhood these days for the Argentinian elite . Still they will have price corrections downwards but the most affected neighbourhoods for price corrections are Recoleta, Puerto Madero, San Telmo, Belgrano, Caballito, Almagro , and Barrio Norte in Capital Federal .

1. There is a severe recession currently in Argentina the worst since 2001
2. Credit has dried up due to the peso now being worth 38 pesos for the dollar . This time last year it was 17 pesos a devaluation of 100% in one year
3. Incredible offer of properties for sale in good neighbourhoods . For example if you look at Recoleta there are now 4,789 properties for sale in this neighbourhood . In 2013 there were less than 2700 a huge increase in supply . With little demand and huge supply of apartments in some neighbourhoods they will be severely affected by price differences . Look at the links below for more information
4. 4.789 Departamento en venta en Recoleta
5. https://www.zonaprop.com.ar/departamento-venta-recoleta.html

 

[steveinbsas]

The apartment in the listing below is on the second floor of a building without an elevator and is about the same size as the one I owned in Recoleta: My apartment faced the street and this one does not.

My apartment was located in a building at Aranales 2078, and on the fourth floor. There was an elevator and a portero. There was a lot of traffic noise from the street below my apartment and i never got used to it.

My location was a little better, but one of the reasons I sold in 2009 was the ever increasing monthly consorcio fee (which could easily be twice as much today as this apartment's monthly fee of $4.300 pesos). I wouldn't even want to be paying the lower figure today. With a little less than $4000 pesos I can pay for my monthly internet, my electric bill, the insurance premiums for my car and both my house and guest house (247 mtrs2 covered construction total) ...as well as the monthly municipal fee for garbage disposal and street maintenance.

I know most expats prefer the city life, but after nine years of "country life" in Buenos Aires, I have no desire to "return to buy a property again" in Capital Federal. If I did, I would take a serious look at this apartment: The comparatively low espenses and the mtr2 price of $250 USD. got my immediate attention. It's also on the "better"side of Av. Santa Fe.

PS: When I'm writing in English and use the expression "country life" I'm referring to the lifestyle of living in the country as opposed to the city. I do not live in a "country club" or a barrio privado as one member assumed by my use of the expression. That's undoubtedly because closed neighborhoods/communites are often referred to as "countries"when speaking in Argentine Spanish.



Departamento · 64m2 · 3 Ambientes
LAPRIDA 1700, Recoleta, Capital Federal

Publicado hace 107 días

Lindisimo, 2° Piso X Escalera, con Renta
### LINDISIMO, 2° piso x escalera, con RENTA ### Edificio con terracita con parrilla. APTO CREDITO. Impecable, pisos de parquette, 1 dormitorio, baño completo y living y comedor. Muy muy copado. Calefaccion por tiros balanceados y queda 1 equipo Splitt de A/Acondicionado, La zona inmejorable...... Hoy esta sin muebles y pintado de blanco................... no hay margen. Renta desde Enero 2019 a Enero 2021. 1° año $ 16.000.- mas Expensas y AySA, 2° $ 20.800.- mas expensas y AySA.

OFERTA PROVISTA POR TOPINMOBILIARIO.COM - CODIGO: LSP1425

• 
  64m2
  Superficie total
• 
  64m2
  Superficie cubierta
• 
  3
  Ambientes
• 
  1
  Baño
• 
  2
  Dormitorios
• 
  60
  Antigüedad
• 
  Contrafrente
  Disposición
• 
  N
  Orientación
• 
  Excelente
  Estado del inmueble
• 
  Muy luminoso
  Luminosidad

https://www.zonaprop.com.ar/propiedades/lindisimo-2-piso-x-escalera-con-renta-43750485.html

 

[sergio]

Still costs $1mm for a tiny depto in Puerta Madera

Puerta Madera? Is that anywhere near Puerto Madero?

 

[Ries]

If you are considering buying, this is good news.
If you own an existing apartment, and you bought it some time ago, then, just like the stock market going up and down, this is relatively irrelevant.
If you are a short term speculator on real estate here, I suppose this would concern you- but who is stupid enough to do that?
Also, if you are ready to sell, right now, and have no ability to hang on, then this would also be bad.

Most Argentine owners will just hang on- after all, even if you dont pay taxes, consorcio fees, or utilities, you can continue to live in a home here for decades.
I know many people who, when purchasing, have seen huge piles of cash pushed around the table to pay off long running bills for unpaid expenses.

Really, short term drops in market value only affect short term speculators.

Me, I am not worried. Maybe, just maybe, my kids will see less when they sell, some time from now.
Most likely, the long term appreciation will still be pretty decent.

They are no longer building 1905 departmentos with hardwood floors, 4 meter ceilings, and beautiful details in Buenos Aires, so I am not really concerned.

If you paid a high price for a modern departmento with crappy concrete and glass construction, and must sell within a year or two of purchase, then, yes, this is terrible news.