Looking For A Flat To Buy

[Ries]

One of the interesting things about the real estate market is it doesnt care what YOU think.
It is not rational, and prices dont do what economists predict they will.

I can go to apartments for sale all day and tell the owners their prices are too high, but if somebody pays that much, it is ME that is wrong.

Prices are what they are. If you dont want to pay what they are asking, keep looking, but if you are unrealistic in your expectations, you will find nothing.

I know my place is now worth a LOT more than I paid in 2007, and a portion of that is the improvements I made, but a lot of it is inflation and a better economy. Better, in the sense that more people with the money to afford it want to live in my barrio now than did then.

Supply and Demand is what it all comes down to.

Me, I enjoy fixing a place up, and you sure save a lot of money by doing so.

The current prices in Buenos Aires are still much cheaper than the Seattle area, near where I live when I am in the US, or than LA, where I used to live, or NYC or Chicago where friends of mine live.
The thing I think is most important is to buy an older unit, with good bones, in a good neighborhood. New buildings are usually really poorly built, and lose their luster fast. But the 100 year old apartments with wood floors, high ceilings, and beautiful exteriors in the crescent of higher end neighborhoods from Belgrano to the microcento sell fast, year after year.

 

[expatinowncountry]

sorry for you, but I lived, besides Europe, in Colombia, Nicaragua and Costa Rica. And stayed in South Africa and Thailand for a while. Not even BKK or Bogota is as filthy as BsArs and flats are not even in Durban or J'burg as expensive as in BsArs.

You do not need to be sorry for me, but thanks anyway.
Once I read a list of things that people need to be give up to be happy...and number one in the list was to give up the need to be always right.

 

[Caliexpat]

sorry for you, but I lived, besides Europe, in Colombia, Nicaragua and Costa Rica. And stayed in South Africa and Thailand for a while. Not even BKK or Bogota is as filthy as BsArs and flats are not even in Durban or J'burg as expensive as in BsArs.

And the crime of those cities is at least 100 times worse than here . What about dirty Luanda the worlds most expensive city for real estate , Get real man!!!!!

 

[Jaredberryman]

Talking of buying apartments.

What would be a good neighborhood to buy a independent house? Not far away from the centre of capital. Would like to buy a big place, remodel it with my personal gym etc.

There are very few houses left in Capital and they are at least 200,000 USD. The closest neighborhood that has houses to the centro is likely nunez/colegiales/saavedra. Flores could also be an option but in some parts it is not the nicest neighborhood. Caballito has houses but they are very, very expensive.

 

[fifs2]

One of the interesting things about the real estate market is it doesnt care what YOU think.
It is not rational, and prices dont do what economists predict they will.

I can go to apartments for sale all day and tell the owners their prices are too high, but if somebody pays that much, it is ME that is wrong.

Prices are what they are. If you dont want to pay what they are asking, keep looking, but if you are unrealistic in your expectations, you will find nothing.

I know my place is now worth a LOT more than I paid in 2007, and a portion of that is the improvements I made, but a lot of it is inflation and a better economy. Better, in the sense that more people with the money to afford it want to live in my barrio now than did then.

Supply and Demand is what it all comes down to.

Me, I enjoy fixing a place up, and you sure save a lot of money by doing so.

The current prices in Buenos Aires are still much cheaper than the Seattle area, near where I live when I am in the US, or than LA, where I used to live, or NYC or Chicago where friends of mine live.
The thing I think is most important is to buy an older unit, with good bones, in a good neighborhood. New buildings are usually really poorly built, and lose their luster fast. But the 100 year old apartments with wood floors, high ceilings, and beautiful exteriors in the crescent of higher end neighborhoods from Belgrano to the microcento sell fast, year after year.

Couldn't agree more Ries. What makes anyone an expert on what is or isn't the right price as it may all boil down to sellers need to sell forgetting about external factors like market bouyancy etc. We just bought a property in Spain last week. The same estate agent has a property which is 60% smaller and more delapidated but 90% of the price we just paid. Bsas was always great value for money for a large city..for expats of course. The shame is that the locals can never even hope to access the great property deals open to expats.

 

[Ceviche]

If I had the funds, I would buy property/ies in BA in a heartbeat!

 

[mariano-BCN]

And the crime of those cities is at least 100 times worse than here . What about dirty Luanda the worlds most expensive city for real estate , Get real man!!!!!

Durban and Medellin: former gangster-cities and nowadays lovely, green, clean and much safer places than bsars.

 

[trennod]

I am not sure inflation has caused the increase in property values over the past few years, given its in USD. Economics 101.

I don't think by world standards BA is too out of hand. We just bought an off the plan back home in Australia and looking around the major cities (CBD and surrounds) over there its about USD 8k / sq metre for a new apartment (generally with carpark, pool and gym). Here I think you would pay about a third (maybe a touch more) in an "upper class" suburb by BA standards such as Palermo with similar features. Obviously if you go further out and/or in the provincia its a lot less.

I realise that local wages make it pretty difficult (as does inflation, dollar controls and the fact the market is in USD) but I don't think property is comparatively too expensive here. Especially when you look at the cost of other items such as vehicles etc.

 

[expatinowncountry]

Durban and Medellin: former gangster-cities and nowadays lovely, green, clean and much safer places than bsars.

I worked in Durban in 2011 and I doubt it has changed much in the last 18 months., everyone lives in Gates community outside the cities or in fortified houses in Morningside. Have you ever seen a white man walking in downtown Durban? I had not.

Medellin a much improved city still had murder rates of 65 people per 100,000 in 2012. Buenos Aires (ciudad) 6. Average of US (2011 number) was 5.6 per 100,000.

Article on Medellin crime rates http://articles.washingtonpost.com/2013-06-12/world/39935698_1_homicide-rate-murder-capital-medellin

 

[Caliexpat]

I worked in Durban in 2011 and I doubt it has changed much in the last 18 months., everyone lives in Gates community outside the cities or in fortified houses in Morningside. Have you ever seen a white man walking in downtown Durban? I had not.

Medellin a much improved city still had murder rates of 65 people per 100,000 in 2012. Buenos Aires (ciudad) 6. Average of US (2011 number) was 5.6 per 100,000.

Article on Medellin crime rates http://articles.wash...apital-medellin

This guy Mariano should buy in Durban if it thinks its it such a great city !!!! . Buenos Aires with all its faults has some of the most beautiful architecture in the world and if you look carefully there are some bargains out there at just US $ 2.000 a metre .