Inflationary escalation, exchange tension and political struggles also affect the real-estate market. And the resulting uncertainty continues to bring about the postponement of the purchase of a Department. With an average value of US$2,276 per square meter, of the stock that exceeds 164,000 units (120,000 are apartments), only 1.75% was sold in May, according to data from Real Estate Radar for June.
One of the main problems “is the great dispersion of published price values”, defines Fabián Achával, CEO of Fabián Achával Properties. So where to look opportunities? The specialist advises doing it surgically: “One by one, property by property, whatever the neighborhood, segment or typology. Of course, the proportion of value between the different areas is maintained: Recoleta, for example, is still more expensive than Villa Crespo or Constitution”, he clarifies.
In this sense, the real estate portal Properati highlights that buying a property for rental purposes offers a 7.88% annual return on investment in Villa Lugano; 5.30% in La Boca; 5.05%, in Constitution; 4.82%, in Núñez; and 4.65%, Villa General Mitre. On the other side, San Telmo, Coghlan, Versalles, Retiro and Belgrano appear, with an annual yield of between 3% and 3.4%.
Palermo, the neighborhood with the largest number of apartments
As for stock, the neighborhood par excellence to buy for rent continues to be Palermo, with 22,322 properties –followed, but from a distance, by Belgrano, with 12,179; and Recoleta, 12,075–. So demanded by young people and tourists, “it has very interesting projects, with category amenities and units of 1, 2 or 3 rooms”, highlights Matías Chirom, general director of Baigún Real Estate Operations.
In addition, the vast majority of the ventures in this area have premises on the ground floor that are usually “exploited” by some brand in the gastronomic or clothing industry, which enhances and generates a lot of movement both day and night.
Now, with so much sobrestockwhere are the greatest chances of bargaining? The reality is that here you should not segment by area either: the predisposition to listen to offers lower than the list price has to do with low sales, and this can occur in less developed neighborhoods or with less demand.
In figures, the public that buys is, above all, the end user: According to the latest ROI report, only 11% are investors. And there they go “the young student who is going to live alone, the newly married couple who have help from their family to access their first home, others who are getting bigger or who find themselves with very large apartments and decide to buy something else boy,” says CEO Baigun.
Palermo continues to be the quintessential neighborhood to buy for rent
But, likewise, there are “the children of people with a very high purchasing power who were wanting to rent and could not get apartments or the conditions, and today their parents decide to buy a unit from them, instead of renting with these conditions and context,” specifies the real estate consultant Alan Schachter.
Buy a well apartment, brand new or used?
Depending on the need and the objective of the purchase, for economic reasons, it is probably more convenient to do it from a well or even “when the developer is buying the land. But If the objective is to move as soon as possible and enter to live, it will be necessary to evaluate buying a brand new apartment or a used one in good condition, which today present a good opportunity due to low prices.Chirom reflects.
The values of the well department were equated with brand new properties
And, due to the dynamics that the market is experiencing, “the price of a well property is very similar to a brand new apartment. Although the dollar has risen in recent weeks, the dollar construction costs of wells have been rising. On the other hand, there are brand new apartments that were built at a cheaper cost and can be sold at better prices. At the same brand new price versus well, it is better to buy brand new and limit the risk,” Schachter understands.
But be careful, warns Achával: “There are ventures that are completely out of price and for which values are requested that have nothing to do with replacement or market values., for different reasons”. What should the investor or the end user do?: “Check a lot with specialists to be able to identify what is in the price and what is not. There are used properties that are at the price of 15 years ago and there are ventures that have a developer who understands that he must rotate his stock and that he will be much more flexible than at another time, “he concludes.