steveinbsas
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Fishface posted the following on another thread:
"... but have you seen the volume of property for sale in the north zone (Olivos-San Isidro-Tigre)?? it is immense.
obviously a lot of people want out..."
I wonder what FF is comparing the current volume with...
Is it greater than last year?...two years ago?
I haven't been up north for two years, but I can say that apartment sales in Recoleta seem as strong as ever, and there aren't many "for sale" signs to be seen...certainly no more now than at any time in the past two years, and "sold" appears on most of them within a month.
I was gone for five weeks in Sept-Oct, and during that time an apartment in "good condition" (but not recycled) in my building came on the market and sold within a week. I'm in a 50 year old building with high monthly expenses ($650ar) and the entry needs "refreshing" as well. It would only cost $1000 U$D to paint the walls and polish the marble, but a majority of the association members won't vote for it, even though I offered to pay a third of the total cost!
The price for the apartment sold this month was just under 1800U$D per square meter, which is at the low end of the range currently quoted in the La Nacion for Recoleta apartments. 2500U$D per square meter was the "high" figure last time I checked, and some new, high end apartments are priced (and selling) at 3000U$D per meter.
An apartment with EXACTLY the same floor plan and in "fair to poor condition" just one floor higher sold two years ago for about 1100U$D per meter to the brother in law of the new buyer. That one was a real bargain (200-300U$D per meter below market AS IS) at the time, but it would have been unlivable if it hadn't been completely remodeled.
I'm sure others considering a property purchase here would appreciate as much information as possible...so would those who might be considering bailing out (I'm not).
"... but have you seen the volume of property for sale in the north zone (Olivos-San Isidro-Tigre)?? it is immense.
obviously a lot of people want out..."
I wonder what FF is comparing the current volume with...
Is it greater than last year?...two years ago?
I haven't been up north for two years, but I can say that apartment sales in Recoleta seem as strong as ever, and there aren't many "for sale" signs to be seen...certainly no more now than at any time in the past two years, and "sold" appears on most of them within a month.
I was gone for five weeks in Sept-Oct, and during that time an apartment in "good condition" (but not recycled) in my building came on the market and sold within a week. I'm in a 50 year old building with high monthly expenses ($650ar) and the entry needs "refreshing" as well. It would only cost $1000 U$D to paint the walls and polish the marble, but a majority of the association members won't vote for it, even though I offered to pay a third of the total cost!
The price for the apartment sold this month was just under 1800U$D per square meter, which is at the low end of the range currently quoted in the La Nacion for Recoleta apartments. 2500U$D per square meter was the "high" figure last time I checked, and some new, high end apartments are priced (and selling) at 3000U$D per meter.
An apartment with EXACTLY the same floor plan and in "fair to poor condition" just one floor higher sold two years ago for about 1100U$D per meter to the brother in law of the new buyer. That one was a real bargain (200-300U$D per meter below market AS IS) at the time, but it would have been unlivable if it hadn't been completely remodeled.
I'm sure others considering a property purchase here would appreciate as much information as possible...so would those who might be considering bailing out (I'm not).