Buenos Aires Real Estate

Recoleta is one of the neighborhoods of Buenos Aires most estimated by its diversity in alternatives of entertainment, cultural and purchases options, but it is also one of the most wanted neighborhoods for renting apartments or buying properties for investment.

The famous Alvear Avenue, one of the most exclusive ones, which concentrates the most luxurious mansions of the city, also offers important houses fashionable internationally and hotels of prestige as the “Alvear” or the “Palace Duhau”.

To rent in Recoleta, is a good choice and a great possibility of living around the best restaurants in the city, pubs, the hippie fair on Saturdays and Sundays, the National Museum of Fine Arts, the Village Recoleta with its 12 cinemas, bookshops, bars and galleries of art.

Furnished apartments available for temporary rent in Buenos Aires of 2 or 3 rooms are the most wanted, but the one room apartments, called studio, has also very high demand. Apartments Buenos Aires as business offer multiple advantages.

Many investors have chosen Recoleta, as investment, buying residences that then, rent furnished to tourists for short stays, assuring them a return of investment, an extremely attractive business. The business is to accede to a real estate business with a minimal investment and to obtain a rent similar to the one that might be obtained in European countries or The United States.

Recoleta has a lot to offer to tourist and investors that think in Argentina
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While in Spain they are sorry for a report from the IMF that assures that the country will suffer an important deceleration in the growth, and the Spanish look with suspicion and blame an adjustment of the real-estate market that already is originating the closing of 50 % of the real estate agencies, many investors already are thinking about destinations with better forecasts, such it is the case of Argentina, Russia, Romania and Uruguay.

Moreover, it was recently known that Argentinean Allowance Funds will invest in real estate; from offices, to commercial sector and apartments in Buenos Aires, besides an investment in energy, which overcomes 300 million dollars.

The expectation that is generating the advertisement concerning the relocation of the civic center in the south part of the city, and the plan of investments projects are significant movement of funds from the sector towards the construction. It was also known the amount will be destined to the extension of undergrounds, for the period 2008 / 11; ranges in 2.000 million Euros and undoubtedly it will be another trigger factor for new changes in the urban planning of next years.

Investment and more investment are positive information that the market marks for the medium term in Buenos Aires. Surely we will see new developments, new towers and apartments in Buenos Aires for the next years.
Inside the neighborhoods most looked for investments are Puerto Madero, Palermo and Recoleta.

If we have to make a quick balance of the last few years about the inversion in real estate business, we will be able to say that the growth is the main characteristic.

Rates and reality show that Argentinean economic growth has no interruption during these years and it is also being significant, even more than neighboring countries such The Economist point out in a recent article; it indicates a 9% increase in contrast with Brazilian economy. Tourism peak is another beneficial factor that influences in this development, showing a progressive increase as a tendency, it adds year by year more foreign visitants. Also, building industry shows a stage of plateau (for local reason) that motivates the increase of the square meter of construction for certain areas, seeming to be the trend within short term in Buenos Aires. Specialists think that the increase in the price of the square meter is an opportunity of investment to take into account, the same happens with the renting apartment segment. The supply revalues each property, an equation that is profitable to whom invested and also to invest nowadays considering the prediction of this tendency.

“Las Cañitas” and “La Imprenta” for example are ideal areas to invest in Palermo; it has an important supply of new buildings (a total of 42 constructions) most of them are residential buildings; this is a thing that must be pointed out. In 2005 the price of the square meter was approximately of USD 1450; in 2006 it was of USD 1600; in 2007 it was of USD 1980, finally in 2008 it reaches USD 2350. This shows an increase of the 18% in the last year. “Las Cañitas de Palermo” is a good opportunity of investment being also profitable in other neighborhoods of Buenos Aires.

Those who are interested in renting apartments, will be favored because the return rates are the highest in the world, the lodging demand of foreign people is evident, the tourism boom, the benefit in the currency and the life standard of the city, make foreign people (specially Europeans and Americans) to invest in Buenos Aires’s properties; not only to live in but also as a business.

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