The construction cost measured in dollars increased by 35.5% in 2024 and, as a consequence, well projects increased by an average of 1.1%, according to Zonaprop. In this context, sector specialists discussed trends around housing.
The housing prices they begin to recover progressively after having hit a bottom in October of last year. The cost of construction measured in dollars increased by 35.5% in 2024According to the latest report of Zonapropand, as a consequence, the well projects on average 1.1%.
Currently, A well project is located at US$2,494 per m2. Meanwhile, building today costs almost triple what it cost in October 2020, the minimum recorded by Zonapropand 30.2% above the 2012-2023 average.
In the last meeting of Debate Zoneproduced by Zonapropthe journalist specialized in Real Estate, Juan Fernandez Mugicaspoke with Santiago Magninfounder of Deinmobiliarios; Alejandro Reysercommercial director of Toribio Achával; Hernán Siwackifounding partner of Capital Brokers and Esteban Edelsteindirector of Castex, on the trends around housing during the first three months of the year.
Esteban Edelstein, oriented to the sale of land, explains: “when a new project begins it becomes a promise and as it is consolidated, prices rise in the same way that the supply in that same project falls. The costs of new housing construction and infrastructure are not rising as much as they are. In dollars it is much more expensive and in the case of lots, those that did not increase the price so much are sold.”
For its part, Hernán Siwacki, managing partner of Capital Brokers, maintains that “the gap for the developer has narrowed a lot and although there is an increase in prices in the pre-sale or sale of developments, the increases do not accompany the increases in costs.” In that sense, he analyzes: “There is an opportunity for the buyer who is looking to invest more cheaply in developments today.”
The sale of used apartments is located in a historic apartment
On the other hand, the used properties are in a historic apartmentas pointed out Santiago Magnin, specialist in the area. According to the data registered on the portal of Zonapropthe used ones decreased in value, They currently register a 0.5% annual variation and have an average price of 2,049 dollars/m2.
“Demand is rising, supply is falling and prices are rising. It seems to be an optimistic scenario, in which a bull market of rising prices in the used area begins,” details the founder of Deinmobiliarios.
In Madero Portthe neighborhood with the highest market values, a used car has an average price of $5,541/m2while a well apartment costs $5,966/m2 and a brand new one, 6,467 dollars/m2.
Siwacki maintains: “If the developer focuses on the location, on the quality of the product, on the project and does a good job of differentiating himself from others, he will be able to defend value,” and he put Palermo as an example, since it is the second most expensive neighborhood in the city.
There, the price of a used one drops to $2,880/m2 while a well apartment is available for an average price of $3,241/m2and one brand new $3,388/m2.
Source: Ambito
