Building today costs 2.9 times more than in 2020. Used properties offer more affordable prices
He construction cost It became sharply more expensive this year. Measured in dollars, it rose 34.6%. Until now, many developers had been putting up with the transfer of prices to estate under construction. But in recent times, the increases have begun to directly impact prices. At the moment, it is evident that those that absorbed the increases are above all the premium properties of the City of Buenos Aires. The dollar lists were updated and in many cases the demand has already validated them.
According to a recent Zonaprop report, the increase in construction cost It generated two effects: on the one hand, it drove up the price of brand new units, but it also made used properties an attractive option for buyers, due to their more accessible prices.
How much does a property under construction cost today?
Currently, the average sales price of brand new units is US$2,745 per m2, almost the same as in the estate in a well whose price is on average US$2,741. Therefore, according to the “brokers”, if what one is looking for is a quick investment, today there are apartments close to being delivered at the same price as one in a well.
The jump is made when comparing it with the estate used that touch US$2,138 per m2. In any case, the upward trend in the sales price continues in all the segments analyzed, both new and used.
The report also highlights that this year, well units are the ones that increased their price the most. The increase in 2024 was 15.3%. Meanwhile, used units rose 4.8%.
Building today costs 2.9 times what it cost in October 2020 and 30.2% more above the average of the last 11 years. According to the latest data released by INDEC, in September there was an 8.2% increase in the workforce, within which registered salaries increased 9.1%. In September, the items that increased the most were: earthworks (+9.3%), masonry (+6.7%), structure (+5.6%), and elevators (+3.5%).
Price ranking by neighborhood
Puerto Madero is historically the most expensive neighborhood in the Federal Capital to acquire a propertywith an average price of US$5,985 per m2. It is followed by Palermo at $3,212 and Belgrano at $3,030.
For their part, the neighborhoods with the lowest prices are Villa Riachuelo, Nueva Pompeya and Lugano. According to the developers, it is not profitable to build in these areas, although they hope that mortgage loans will change this situation a little.
Source: Ambito
