Living cost

[gracielle]

Perry - ....the prices they are illogical for the real economy.....
This is BA....where the illogical appears to be the norm when it comes to real estate prices.

......They should be by my calculations 50 percent less as to reflect the real economic earnings of argentinians....
Some owners may not be targeting Argentinians as prospective tenants. I know of a 3-bed apt (semi-piso) in Palermo (3500 block of Charcas) which is currently occupied by 3 Colombian businessmen who are currently paying a rent of US$5600 + utilities, unfurnished.

......these properties are not in the best neighbourhoods of the city.....
That says you.....sounds like a bias opinion to me.

 

[perry]

Perry - ....the prices they are illogical for the real economy.....
This is BA....where the illogical appears to be the norm when it comes to real estate prices.

......They should be by my calculations 50 percent less as to reflect the real economic earnings of argentinians....
Some owners may not be targeting Argentinians as prospective tenants. I know of a 3-bed apt (semi-piso) in Palermo (3500 block of Charcas) which is currently occupied by 3 Colombian businessmen who are currently paying a rent of US$5600 + utilities, unfurnished.

......these properties are not in the best neighbourhoods of the city.....
That says you.....sounds like a bias opinion to me.

Many people have their properties empty for years until.they find a tenant. Logic does not exist for many here. Villa Devoto is a nice neighbourhood but it is not the best neighbourhood of Buenos Aires which is Palermo Chico. Belgrano R and Palermo Nuevo. If you are going to pay top dollar choose the best neighbourhood .

 

[Rich One]

The prices in Puerto Madero must be even higher...

 

[toongeorges]

Many people have their properties empty for years until.they find a tenant. Logic does not exist for many here.

If it does not exists yet, they should invent a tax on vacant properties that increases each additional year the property is vacant. Such a tax exists where I live.

 

[perry]

Real estate prices under Macri rose close to 40 percent in dollars in most neighbourhoods of Capital Federal . Palermo Nuevo has seen the biggest price increase as the new rich of Argentina prefer this neighbourhood to Puerto Madero or Recoleta . Prices are at their peak and with signs of lower offers now due to a oversupply of sale properties and a weakening peso. I believe that prices will adjust themselves downwards from now on and in a year prices will be less in dollars for rental and sale properties. I would not buy in this market as its completely especulative with little substance as real estate enquiries are 70 percent less than just 6 months ago.

 

[Ries]

I guess there is no accounting for taste- you couldnt give me an apartment in Palermo Nuevo- its like a bad version of North Miami, with a view of Jumbo. Crappy new highrises, no stores, and the train shakes your building. Its funny, in the last six months two apartments sold in my building, in Barrio Norte, both within 2 weeks of being listed, for what I consider reasonable prices. Both sold to Argentines who will be living in them, and both were nothing like the faux-suburban homes you have listed. Most people I know, both expats and locals, prefer to live in older buildings in classic urban neighborhoods, not in fenced gated Scarface style homes. There are probably 1000 people living on my block, none have a pool, but all pay less than the ridiculous prices on those houses.

 

[perry]

I guess there is no accounting for taste- you couldnt give me an apartment in Palermo Nuevo- its like a bad version of North Miami, with a view of Jumbo. Crappy new highrises, no stores, and the train shakes your building. Its funny, in the last six months two apartments sold in my building, in Barrio Norte, both within 2 weeks of being listed, for what I consider reasonable prices. Both sold to Argentines who will be living in them, and both were nothing like the faux-suburban homes you have listed. Most people I know, both expats and locals, prefer to live in older buildings in classic urban neighborhoods, not in fenced gated Scarface style homes. There are probably 1000 people living on my block, none have a pool, but all pay less than the ridiculous prices on those houses.

Number one these are not my lists as they are zonaprop properties the most popular real estate website in Argentina. I agree completely that the prices are obscene. In regards to Palermo Nuevo it incorporates Coronel Diaz to Bullrich from Las Heras to Libertador. The best parts of this neighbourhood which include Cervino. Urgarteche. Segui. Kennedy are stunning neighbourhoods and cannot be compared to the ugliness of being two blocks from the train lines of Bullrich including Godoy Cruz . Santa Maria del Oro and vecinal streets.

 

[julian63]

I guess it depends upon one's perspective whether RE prices are high or not. I own a small 2 bdrm apt in a nice part of the Recoleta (65 mts ).
I recently had a couple of local realtors advise me on how I should price it. The highest recommendation was 235K. A similar apt in NYC or London would be 3x that price. I can't speak about house prices in the burbs, but apt prices in the city do not seem to be high in comparison to prices in other cosmopolitan metropolises.

 

[jbeas176]

I would be interested on how that turns out. you would be getting 3600 m2. i would think 3000 max in this market. good luck

 

[Butterpopcorn]

Guys how about 3 bedroom?