Used apartment: area by area, where to buy a cheap property in GBA at 2010 prices
The price per square meter for two or three room apartments used in good condition located in the first cordon of Greater Buenos Aires averaged in June, US$1,437, a value very similar to the US$1,447 it averaged in mid-2010. According to a report by Reporte Inmobiliario, this number is the second lowest in the last 14 years from which the survey is made, since a lower price was only registered in 2009 when the average sale price per square meter was US$1,329.
“Values accumulate three consecutive years of decline, the current one in the middle of this year being the least of them, while the strongest adjustment in prices occurred between June 2020 and 2021″, analyzes the report. A year ago, the price per square meter in the suburban area closest to the City of Buenos Aires averaged US$1,502, while in 2020 it amounted to US$US$1,945. In the last decade and a half, the highest value peak was in 2018when in the middle of the year the apartments of this type were sold at 2,352 US$/m².
Generally speaking, a used two- or three-bedroom apartment in good condition on the north corridor sells for US$1,915 per square meter. Among the surveyed neighborhoods, buying one of these units in Tigre is the most accessible option in the area. There, the average used two or three-room apartments ask for an average of US$1,520 per square meter. At the other end of the list, Martínez is positioned as the most expensive neighborhood in the north of the suburbs, since they ask for US$2,075/m².
The locations between these prices are Vicente López (US$2,065/m²), Olivos (US$1,925/m²) and San Isidro (US$1,980/m²).
In the other cardinal point, the southern area is the one that offers the cheapest price per square meter of the entire first cordon of the suburbs. Quilmes is the best valued locality for the ownerswhere the US$1,160 they ask for per square meter for the apartments exceeds the average of the average value in the entire southern zone, which is US$1,080/m².
The southern area is the one that offers the cheapest price per square meter of the entire first cordon of the suburbs.
In order of accessibility, the second most expensive is Lomas de Zamora (1,145 US$/m²), the third is Avellaneda (1,045 US$/m²), the fourth is La Plata (1,025 US$/m²) and the cheapest neighborhood is of all to invest in the area is Lanús (1015 US$/m²).
For the west of the province, on the outskirts of the City, used two or three room apartments cost an average of US$1,245 per square meter. Among the three towns surveyed by the Real Estate Report, the report indicates that Ramos Mejía is the most expensive (1,375 US$/m²). It is followed by Morón’s party with offers of US$1,200 and the Haedo list ends with US$1,200 per square meter.
Given that the quarterly lows in the western and southern zones are becoming more and more plateaued, the report analyzes that “the values would have found a certain range of balance and that it would be unlikely to expect a significant adjustment in the short term”.