Throughout 2024, used apartments gained ground. On the one hand, the construction cost rose so it is more convenient to buy a property that is not in development. On the other hand, mortgage loans, aimed at the used market, strongly reactivated the sale of used vehicles.
According to the CAMARCO Indicator (Argentine Chamber of Construction), in November, the cost of building in CABA increased 66.2% year-on-year. This increase, added to the stability of the dollar, translates into an increase in the final price of the units under development.
The average price per square meter of a used property in the city is US$2,045, while well-stocked units have already reached US$2,435, according to data from Zonaprop.
Currently, the properties The most sought after in CABA are those that are 10 to 15 years old and with good construction quality, although they are also the most scarce.
How much does it cost to build a building
According to a recent report by Real Estate Report, in November to build a building of just over 1,000 total m2 in 8-story horizontal property, it yielded an initial budget that was almost $1.4 billion.
The construction cost measured in pesos increased in November compared to the previous month by 3.02%. Due to the effect of the increase in pesos and the evolution of the exchange rate, the increase in dollars increased sharply, increasing 11.45% compared to the previous month.
Thus, taking the parallel market price of the North American currency, the cost per salable m2 was US$1,615 and the total value to be invested in the construction The typical building price was slightly above US$1.27 million.
Purchase and sale prices in CABA
Puerto Madero presents the most expensive offer to buy a property, with an average price of US$6,026/m2, according to Zonaprop. Palermo and Belgrano follow, with average prices of US$3,209 /m2 and US$3,016 /m2, respectively.
On the contrary, Lugano is the most economical neighborhood for acquisition, with an average price of US$1,000/m2. It is followed by Nueva Pompeya (US$1,388 /m2) and Parque Avellaneda (US$1,516 /m2).
In 2024, 98% of neighborhoods will see price increases. The neighborhoods in the north of the City are the ones with the greatest increases, while in terms of typology, the well apartments are the ones with the greatest increases.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
