A GUIDE TO BUY REAL ESTATE IN BUENOS AIRES

CHOOSING THE PROPERTY
To avoid wastes of time, it is important that the buyer know exactly for what purpose he will acquire the property, since the questions he will have to bear in mind are different whether he wants to move into the property or simply invest in real estate.

If the buyer wants to move, the first thing he should consider is in what kind of neighborhood he would like to live: a popular neighborhood with night-life or a quiet residential neighborhood. Besides, he should take into account the property will not be a stop-by place, but his home. Thus, the property should have enough space to live comfortably.

However, if the buyer wants to invest in real estate in Buenos Aires, he should first decide what type of rental agreement he wants. There are two options: a- 24-Month or 36-Month Rentals, and b- Temporary Rentals.

  1. 24-Month or 36-Month Rentals: Their name is derived from the two-year-term or three-year-term agreements signed to rent a property (24-month agreements are signed when the tenant wants to move and live into the property, while 36-month agreements are signed when the tenant wants to use the property for commercial purposes). Since, generally, these properties are rented by locals or foreigners living in Buenos Aires, the buyer should bear in mind that the property should be spacious and located in a downtown neighborhood with access to public transportation. Thus, the owner may charge a higher rent. When long-term rental agreements are signed, the owner is not responsible for paying the costs for services consumed (such as electricity, gas, water, telephone, etc.) or the building maintenance fees.
  2. Temporary Rentals: The size of properties available for temporary rental may be smaller, since people who enter into temporary rental agreements in Buenos Aires are generally on vacation or staying for business reasons. Thus, they do not spend too much time inside the property. Those renting temporarily expect the property to be wider, more comfortable and private than a hotel room, look for a nice view over the city, and want the neighborhood to be secure and near night-time hotspots and tourist attractions. Thus, location and comforts are crucial aspects to consider before buying real estate.

The property price does not only depend on location. It also varies depending on whether the property is brand-new or used and its conditions. Thus, the buyer should consider if he will have to invest in repairs before renting or moving into the property. A property may seem cheap, but need too many repairs to be habitable.  
Nowadays, many foreigners decide to buy real estate in Buenos Aires due to the constant increase in real estate value, and the low costs for services, taxes and price per square meter –if compared to Europe or the US.

NEIGHBORHOODS

Price per Sq. M² (in US$)

Apartments

Brand-New

Used

Abasto

1700/2000

1500/1800

Almagro

1200/1800

1300/1500

Belgrano

2000/2500

1600/1900

Caballito

1500/2000

1300/1500

Centro

1650/1950

1100/1400

Colegiales

1300/1600

1000/1200

Congreso

1100/1350

900/1200

Las Cañitas

1900/2300

1500/1900

Palermo Hollywood

1800/2300

1350/1600

Palermo Soho

1650/2000

1100/1400

Puerto Madero

3500/5500

2500/3500

Recoleta

2600/3900

1800/2500

San Telmo

1500/1700

1000/1400

Source: La Nación, saturday, March 21st, 2009




In the same Section:
Choosing the Property « you are here
To avoid wastes of time, it is important that the buyer know exactly for what purpose he will acquire the property, since the questions he will have to bear in mind are different


* The following information concerns the requirements and legal process to buy and sell real estate in Buenos Aires. You may find some differences in the real estate buying or selling process used in other Argentine cities.
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Today: 23 October, 2017