Properties. Where are the most expensive and cheapest neighbourhoods in Greater Buenos Aires
Gran Buenos Aires ( B.A. Province ) is home to almost 10 million inhabitants and many differences in property values. The scenario in 2019 shows the lowest values in some localities in the South, and peaks in Northern such as San Fernando, with numbers coming to exceed the prices of the prefered points of the Capital.
The difference between the two ends can be more than seven times. The data is derived from the publications made on the Zonaprop site. According to a survey of the portal, the most exclusive neighbourhood of Norte area is Marinas del Sol with a value of USD 4,361 the m2, while the most economical in the south is El Venado, at USD 592 the m2.
Meanwhile, if you look at the average buy-sell price in the north of the conurbano bonaerense this is located at USD 2,441 the m2. Since April this year the publication prices show a downward trend and accumulate a decrease from that time of 0.8%. However, because they had increased by 1.4% in the first quarter of the year, they still recorded an increase of 0.6% so far this year.
Asked by LA NACION, Fernando Pozzi, managing partner of Pozzi Inmobiliaria- who concentrates its operations in the region of Tigre, said that within the North area there is also a lot of price disparity. “The square meter in brand new apartments in Olivos, Vicente López and areas near Avenida Maipú is on average USD 4,000, while in Punta Chica, San Isidro, at USD 3,300; and San Fernando and Tigre, at USD 2,700. In used properties, the square meter in Olivos departs USD 3,300; in San Isidro, USD 2,900; and in San Fernando and Tigre, USD 2,200.”
“We can say that in the brand new departments and condominiums segment with amenities, we can find publication values ranging from USD 2,600 a m2 to the most exclusive at USD 5,000 the m2. The brand new homes on own lot segment range from the cheapest in USD 320,000 to homes in Nordelta’s most exclusive neighbourhoods at USD 1,900,000,” he added.
Similarly, Daniel Salaya Romera, president of the firm Salaya Romera, stated these disparities. “There are differences between parties and then within the municipalities, there are different borders. An apartment on a 16th floor on the waterfront in Puerto de Olivos can have a square meter at USD 6,000/USD 7,000, while a similar department in Munro, Vicente López, at USD 1500”.
With respect to the West and South areas of the province, the average value of a property is located, according to Zonaprop, at USD 1,814 on the m2, 0.2% below last month. Unlike properties in the North, West and South, they accumulate an annual decline of 1.9%. In the case of the south, the highest value of the square meter is located in Lomas de Zamora at USD 2,142.
However, according to Ignacio O’Keefe, director of O’Keefe real estate, it is necessary to distinguish between the published price (what is requested) and the closing price. “In what is two departments, three brand new rooms with immediate delivery the average closure of Quilmes center is USD 1,900 a square meter. The average discount for the last ten months is 7%, little compared to homes where discounts hover between 18% and 20%.”
When talking about the average buy-sale price, according to Zonaprop, properties in the north reach USD 122,000 department of two environments and 50 m2, while those of three rooms and 70 m2 are around USD 170,000. Meanwhile, in the West and South area, the medium department of two environments and 50 m2 has a value of USD 90,000, while one of three environments and 70 m2 is quoted at USD 120,000.
With regard to rents in the conurbation, in the North area, the medium department of two environments is rented at AR 13,887 per month, while the three-room apartment is rented at AR 18,460 per month.
In South area the medium-sized apartment is rented at AR 11,204 per month, while the three-room apartment reaches AR 14,900 per month.
According to this, the annual return of rent is higher in percentage and on average in West and South than in The North.
The municipalities with the highest returns for rental investors in the West and South are Dock Sud (6.5%), Laferrere (4.9%) and La Tablada (4.6%).
Meanwhile, the neighbourhoods with the highest returns for rent investors in the North area are Derqui (6.1%), Boulogne (4.8%) and Terrazas del Lago (4,4%).
Greater reaction than in the City
José Rozados, owner of Real Estate Report, also produces an index of the price of the average m2 in province taking the values of used departments of 2 and 3 environments without amenities in 13 of the main locations of the first cordon.
According to his survey, the average square meter stood at USD 2,187 in September implying a reduction of 8.69% compared to the same month last year (USD 2,395). In the last quarter, meanwhile, publication values were reduced by 2.62%.
“In general the GBA shows a greater adjustment in property values than observed so far in the city of Buenos Aires,” Rozados said.
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