Selling High End Apartment in Buenos Aires

[OldTimeExpat]

Hello everyone,

I have been reading the forum here for many years but have only just made an account now to be able to post.

A good friend of mine is selling his apartment and I thought i'd post it here in case anyone is interested.

He is also an expat by the way.

Here is the link:

https://toribioachaval.com/publico/...-barrio-norte-capital-federal-43497___7647597

Sincerely.

 

[Ceviche]

Don't mean to be rude.

Its over priced.

 

[perry]

I am a realtor for many years now semi retired and I understand clearly the argentinian mindset. In the ad it mentions two indications that are contradictory. First it says two cocheras then in the bottom of the ad it states US$ 50,000 extra for a cochera . Are the two cocheras included in the price?
The biggest error realtors do here is overexaggerate their properties features . This creates a lot of false expecations and disappointed buyers who expect much more . Never say in a ad gran categoria or high end apartment unless its brand new or in a premium building . Looking at the fotos of the property it needs work for most buyers to make it more modern . It may of been recycled but in what year this is the issue ?

Prices have come down 10% since May 2018 and large properties are very hard to sell due to a huge oversupply of apartments for sale and few cash buyers . To sell a large apartment today if its not priced good it will sit on the market for years

 

[Jerbo]

It looks like a dump to me.

 

[garryl]

It looks good (by Argentine standard) and the (per sq) price is not high, but the total price is high, the location is not superb, not easy to sell.

 

[perry]

It looks good (by Argentine standard) and the (per sq) price is not high, but the total price is high, the location is not superb, not easy to sell.

It looks good (by Argentine standard) and the (per sq) price is not high, but the total price is high, the location is not superb, not easy to sell.

The issue with larger properties if they are not in great well maintained buildings with excellent natural light they are very hard to sell especially any property over 500,000 thousand dollars . Las Heras Avenue is in Recoleta but of course its not valued like Quintana, Alvear , and my favourite street in this neighbourhood Posadas .

Another factor is to never oversell a property . This is a classic error in the Buenos Aires property market where impeccable is tossed around very casually . Most properties for sale in Barrio Norte have not been recycled for at least 20 years and they are dated . Prices must reflect the reality . I dream that one day that the property market and its prices are properly registered with a database It would just make it so simple for a realtor to access its real value and project this to sellers . What is incredible is in most cases the owners just chooses a price and shops this around to a few realtors and if they accept it they get the listing .

Nowadays the real estate market more than ever its harder to sell larger properties and even more so than the era of the cepo cambiaria 2011 to 2015 . Nowadays most investors just put their money in argentinian bonds which pay very high interest rates and are liquid . This has been a terrible policy of the argentinian government as it has deterred completely investments in small business and dampened the property market . Up to 6 months ago the real estate market was good due to low interest rates via loans and a very strong peso. Loans were 40% of all sales a tremendous change from the kirchner years where cash was king and less than 5% of all purchases were via credit . Now the peso is 28 per dollar and interest rates have surged the credit market has basically collapsed creating the downturn in prices as the easily availability of credit was inflating real estate prices as it has done in other bubble markets of Sydney, San Francisco , Vancouver and Europe . Now most sales are once again in cash but with less buyers due to the issues expressed in this post .