Vicente López is the most expensive town outside Buenos Aires. (Via Vicente López)

According to real estate experts, land prices in Buenos Aires are increasing at a slower rate than ever.

According to Clarín, Reporte Inmobiliario‘s Germán Gómez Picasso says that “people are always saying there’s no land left. I believe the opposite. There is so much land available for construction in the city, and what happens is that you have to see the moment land is for sale and how much buyers are willing to pay.”

“In each block there are old abandoned sheds and PHs (propiedades horizontales) with a few units, and houses that you can eventually demolish to build on.”

The real estate specialist told the newspaper that the federal Agency for the Administration of State Assets (AABE) had auctioned off thousands of square meters of land, which has added to the total market supply.

In 2017, AABE sold eight lots in the city of Buenos Aires, with the majority in Palermo and Puerto Madero. This increased land supply slightly depressed the price increase, which Gómez Picasso admitted was “minimal.”

Lucas De Salvo, a consultant at Serinco, agreed with Gómez Picasso. The firm periodically reports on real market prices and those posted in classified ads.

Here’s a list of the most and least expensive neighborhoods in the city (and just to be clear, these are prices per square meter of plots of land where no property has been built.)

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Outside the main city, prices tend to be much cheaper –– with the exception of upscale Vicente López. However, with the second most expensive being Sin Isidro, land on the outskirts is much more affordable.

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Gómez Picasso said that now is a great time for the real estate market due to the introduction of mortgage loans. “Now, developers are looking to develop areas that historically never had demand,” he said. “It’s a great opportunity for local developers.”



Source: Bubble.ar