Rise In Real Estate Prices Over Past 5 Years

[citygirl]

Calling GS_dirtboy and others - is there a reasonably reliable source to track how much real estate prices have or have not increased (on average) over the past 5 years inside/outside of CABA (i.e., in pvca) and if so, what is it? Or could you share? I can find random notes here and there but no chart that shows year over year.
Thanks!

 

[GS_Dirtboy]

Hi citygirl,

There is no Multiple Listing Service (MLS) here in Argentina so unfortunately you are not going to find accurate data published. Further, the actual sale prices are never published (we infer from the listing price). We can also tell you by neighborhood because we have direct experience but this will also vary upon the factors of the property like condition, floor, light, amenities, etc. PM me if you need more info. You might also check Reporte Inmobiliaria for generalized info. Sometimes I find their info helpful, but limited.

Hope this helps,

GS

 

[citygirl]

Ah thanks I figured I was asking too much!! I checked report immobiliario but seemed pretty limited in their info. I was generally curious, nothing specific.

 

[Ries]

I know in my barrio (Barrio Norte) prices have about doubled, in US dollars, in the last 5 years or so.
More, for the most desirable apartments- either classic pre-world war I buildings with original floors, walls, and interiors, or for high quality new buildings with pools, parking, and amenities.
The least amount of appreciation in value would be for the run of the mill, built to the lowest cost, average apartments, regardless of when they were built.
Crap remains crap, even when its vintage crap.

But double, for desirable inner city barrios, is probably a pretty good rule of thumb.

 

[Alicia karr]

Ries, if what you are saying is true, I should be asking twice as much for my apartment! I would love to understand if you are talking about RENTS in pesos or real estate prices in dollars for sales? The former, yes because of inflation rental prices have greatly increased. But sales which are mostly done in dollars have increased more modestly.

 

[Ceviche]

Ries, if what you are saying is true, I should be asking twice as much for my apartment! I would love to understand if you are talking about RENTS in pesos or real estate prices in dollars for sales? The former, yes because of inflation rental prices have greatly increased. But sales which are mostly done in dollars have increased more modestly.

We are awaiting anxiously the sale of your apartment to estimate the rise in prices since you bought it.

Please give real figures cos I have noticed ppl love to boast by giving fake figures on purchase nd sale.

 

[garryl]

I know in my barrio (Barrio Norte) prices have about doubled, in US dollars, in the last 5 years or so.
More, for the most desirable apartments- either classic pre-world war I buildings with original floors, walls, and interiors, or for high quality new buildings with pools, parking, and amenities.
The least amount of appreciation in value would be for the run of the mill, built to the lowest cost, average apartments, regardless of when they were built.
Crap remains crap, even when its vintage crap.

But double, for desirable inner city barrios, is probably a pretty good rule of thumb.

doubled ? from $2000 US doallrs to to $4000 per square meter ?

 

[Ries]

I am not a realtor.
But I know, when I walk the streets, and look at asking prices, they are at least double what they were in 2008.
And the people I know who have actually bought apartments, or sold them, are confirming these numbers to me.
Obviously, not EVERY apartment.
But I know mine is worth at least double what I paid.
If you paid too much, for a place that doesnt have much character, no.
But good, classic apartments in Barrio Norte, Palermo, Belgrano, Recoleta- I dont think double is wrong.

I know in about 2008 or so, a friend of mine was looking at freestanding casa chorizos in Palermo Hollywood. They needed new kitchens and baths, but there were quite a few in the $125,000 to $175,000 range, nice, deco styling, some with tiny garages, most with roof terraces.
Those same houses now are $500,000 and up.

I saw nice 3 bedroom apartments in Recoleta in those years for around $200 to $300. Now they are $500 to $700.
These are sale prices, not rentals.

Sure, if you bought a concrete Moscow style apartment in a seven story building on a busy street, it may not be worth double.
But that is always true about real estate- you gotta buy good locations, good construction, good character.
The great old buildings, with marble lobbys and birdcage elevators, high ceilings and hardwood floors- they are mostly double, assuming they are not in Flores or something.

 

[Alicia karr]

Rise perhaps you are a speculator and know about these things, but I am familiar with regular people who have sold their places (nice places but not architectural specimens, in decent and good areas who considered themselves lucky to have sold and made a little extra given the economic climate. There are standard formulas for real estate valuations depending on sq. meter and location. These figures have maybe increased 20% in the last five years. People don't have money to buy and there is a glut of places available, many mediocre or worse and overpriced. Those that buy cheap and broken and fix up to flip are a different situation and maybe turn larger profits.

 

[Ceviche]

very accurate post by lacoquetta.

And I also want to highlight that immobilarias ( real estate agents) worldwide are a bunch of greedy conniving crooks. If you are the buyer, they will tel you everything is damn expensive. If you are the seller, they will tell you the prices are super down. Their first goal is to bring yr morale down and then play with you mentally, so that they can manipulate you.