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The values of Puerto Madero

For the fifth consecutive year, ReporteInmobiliario.com conducted a survey on the youngest neighbourhood of the city of Buenos Aires. Stable quotations and a lower building volume are the results of the comparison made with the situation of the previous year.
Value details per each enterprise.

“20 years are nothing” states the tango; however, in Puerto Madero and the city of Buenos Aires many things have happened during that time. Two decades have precisely passed as of today and as from the drafting of the restoration project of an abandoned and degraded area of old dikes of the Port of Buenos Aires. A political decision, an strategic planning, a persevering attitude towards the proceedings and the synergy between the public and private sector have transformed a marginal area into one of the most valuable neighbourhood and a binding visit for tourists while changing the old abandoned area by a new postcard that represents Buenos Aires.

From the current survey conducted for the fifth consecutive year by ReporteInmobiliario.com regarding all the geography of this novel neighbourhood of the city, it is noticed that there has been a decrease of 24% in building areas of residential projects in relation to such areas in December 2008.

As regards quotations of the units under offer, the average value per square meter of the building units located in recently finished enterprises is similar to the quotations of the previous year: USD/m2 3,679; in other words, 1.74% under the average value per square meter pursuant to the survey conducted in 2008. This shows the general stability of the quotations beyond any specific flexible situation, even during a year full of uncertainty and problems derived from the international financial crisis and local economic and political disorders.

The most expensive values per m2 are still the required values in two enterprises of Faena Properties, “El Aleph” and “Los Molinos”, where each m2 costs more than 4,000 dollars. However, in Faena Properties’ enterprise, the values currently required are lower than the intended values of the previous year upon the launching of such project designed by the important studio of the British architecture Norman Foster.

As the previous year, practically there is no offer under USD 2,800 per m2 and the average quotation of the garages is USD 27,000.

Puerto Madero – Towers in Dike II

As timely confirmed in the report of the previous year, it is expected that a great number of the capitals sent abroad for real estate investments according to the “money laundering” operation promoted by the National Government during the previous year, and which applications are still pending, will be allotted to the products that are currently under construction or offers within the area because investors consider such area as “premium” and suitable for the conservation of their capital.

The commencement of important projects, already announced within the neighbourhood, is still pending. Such important projects will add more value to the surroundings including “ArtMaría” of Creaurban (thematic nautical trip through the water surface), malls of Vizora and important Shopping Centres (Madero Harbour, Mall Dike 3) and Hotels such as St. Regis Hotel & Residences (its building is currently at a standstill and its project is being rescheduled) and Buquebus’ Hotel and Convention Centres.

CLICK HERE TO SEE THE DETAILS OF THE SURVEY: ADDRESS, PHOTOGRAPHS, SURFACE, GLOBAL VALUE, VALUE PER M2, VALUE OF THE GARAGE, TRADER, BUILDER, PHOTOGRAPHS AND BUILDING DEVELOPMENT OF EACH ENTERPRISE

PLEASE CLICK HERE TO SEE THE REPORT YEAR 2008

PLEASE CLICK HERE TO SEE THE REPORT YEAR 2007

Current image of Zen City which building is continuously developed during 2009


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