Current Real Estate Price In Buenos Aires

[garryl]

Just read something in different language, her is my translation :

In recent years (months), rent and real estate continue to climb. New construction apt went up by 37% in price and used apt appreciated 7%, in past 12 months.

Real estate is still the prime mean to battle the inflation, for many people. Even with the recession in the past 10 years, pre-owned apartments appreciated 120% on the average.

NOW::::::: the average price for apartment in Buenos Aires is U$2000.

However, some area are much higher than the other. While Constitucion area is about U$1520, Recoleta is about $2850.

According to association of notary (? translation), this year, the number of buyers went up by 13.8%, and new building permit went up too.

The central bank mortgage UVI (adjustable to inflation)is looking brighter to the market (slowly), meaning, people think the mortgage will drive up the price.

 

[nikad]

The central bank mortgage UVI (adjustable to inflation)is looking brighter to the market (slowly), meaning, people think the mortgage will drive up the price.

This is my bet on Argentina real estate for the coming years.

 

[John Doe]

If the for sale signs protruding from buildings when I was shopping for an apartment in ealy 2003 were lit up, one would think that this was Las Vegas.For probably well over a year, there are very few signs.
If you look at condos for sale online and or in real estate office windows, you'll see an amazing number of offerings in the US$500,000 - to over $5,000000 range. Many of these condos are not in what would be considered the most expensive parts of the city.
I wonder why there are so many new buildings that were completed 6 months ago and longer are empty? A large building that can be seen from the Tigre train, as it approaches the Belgrao "C" station from the Retiro is vacant, months after it was complete. An almost finished office building on Libertad, betwen Arenales and Santa fe looks abandoned. I'm not sure of the status of the building on Santa Fe and Scalabrini Ortiz, above the Coto market.
Before the last election,we read on Bexpats that the predictions that the exchange rate would be 20-25 pesos to the U.S. dollar. we're still waiting.
I'm glad that I'm not a real estate broker. I'd be "broker", than ever.

 

[steveinbsas]

Before the last election,we read on Bexpats that the predictions that the exchange rate would be 20-25 pesos to the U.S. dollar. we're still waiting.

I'm glad that I'm not a real estate broker. I'd be "broker", than ever.

An exchange rate of $20-25 pesos to the dollar would only be good if the Blu rate still existed. A $20-25 to one exchange rate would make the real estate even more difficult to sell.

Unless their dollar income has increased by at least 50% (and in some cases by 100%), anyone who was living on dollars in Argentina before the last election is now "broker" than ever.

I daresay that most of the wannabe expats who asked questions about moving here before the last election should be glad that they did not.

That includes Musicman. His millions would only go half as far today than they would have a year ago. *

And he would no doubt be playing a very sad tune.

PS: I know one broker who is doing rather well and I haven't heard him complain. He is not Argentine and speaks very good Spanish as well as English.
I think the main reason for his success is that he is one of the hardest working individuals I have ever known.

* Six years ago I bought a submersible water pump for about $400 pesos (then about $100 USD). In January of this year I replaced it and the cost was just over a thousand pesos (about $70 USD). Today the price is just under two thousand pesos (about $140 USD).