:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/XASFNI4CFRFYJDGFC7VONT3E6M.jpg "How much does a 3-room apartment cost in CABA: from the most expensive to the most accessible neighborhoods")
Housing prices in the city of Buenos Aires have fallen by almost 38% over the past 4 years, even though the real estate market maintains that the price decline has slowed and is close to bottoming out.
2022 Census: how much housing costs in the most populated neighborhoods of the city of Buenos Aires
The highest population density coincides with the developments in Buenos Aires which dominate construction statistics and are favored areas for buyers and developers.
For this reason, the segment argues that now is the best time to buy a 3-room apartment. They are the most sought after by a typical family with one or two children and by those who are committed to reducing the surface area and must leave a 4 or 5 room apartment and give up one or two bedrooms.
There are also those who want to take advantage of falling values and seek to shelter savings in bricks because they understand that when there is a change in the cycle, houses would rise in price again.
Currently in CABA, among the excess supply of 150,000 properties, 32,000 3-room apartments are sold in the 48 neighborhoods revealed by the Zonaprop portal, for example.
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“The price drop over the last 12 months in properties for sale was 6.45% for the 2-room apartment segment. The increase in inventory means that the owners, in order to complete the transaction, must change their prices and make them more competitive. On the other hand, the 3-room segment was more affected with a drop of 7.07% between January 2022 and the last one. Today, the average price for a 3-room apartment in CABA is USD 173,906,” he said. GlobeLiveMedia Leandro Molinacommercial director of the platform specialized in real estate.
The neighborhood of Puerto Madero is the one that dominates the prices of 3-room apartments with an average value of 435,202 USD, while the cheapest is the neighborhood of Villa Soldati, where they are obtained for 63,076 USD on average.
Molina specifies that “3-room apartments are requested at 60% by women between 35 and 45 years old according to the profile of the searches carried out on our site. Those who consult for these homes represent 34% of the total in CABA”.
Where the situation is deteriorating is with regard to rents: there are only 1,500 3-room apartments in the CABA offer, a very small number, and 65% are valued in dollars.
Also the 3 main rooms are sought after by some professionals who use them to live and work at the same time. In the premium segment, they are preferred by elderly couples who live in Buenos Aires during the week and go on weekends elsewhere or to their second home outside the city.
Maria Francofrom proptech Mudafy, highlighted GlobeLiveMedia That “the way home prices appear to have plateaued raises a very valid question: Could this mean that properties are closing at a significant discount from the listing price? The answer is no. Properties whose price is correct are those that attract the most interest and the most offers, however 70% of properties are sold at less than 10% difference from the published price, half of them being less than 5 % of difference “.
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In the state of São Paulo in 2022, 90,000 purchase and sale transactions were concluded and the majority by mortgage credit. In Buenos Aires the reality is different, the sector depends on who has dollars in hand: after 4 years 33,753 procedures have been carried out
From what has been studied at Mudafy, properties with many requests and offers, as well as those that do not receive any type of interest, have been sold at lower average prices.
The average sale value in 2022 of a 3 bedroom property in Palermo was 144,000 USD and other examples are: Belgrano, 151,000 USD; Recoleta, $127,000; Villa Crespo, $102,000, Caballito, $93,000; Almagro, $90,000 and Flores, $81,000.
“We see that prices have fallen similarly when comparing 2022 to 2021. However, this trend slowed down at the end of the year and they have not fallen in the last 4 months. This could mean a floor of values,” Franco expanded.
According to the data reported below, the average prices are published in each district of CABA and for dwellings with 3 rooms and 73.5 square meters of surface, according to Zonaprop.
1-Puerto Madero: $435,202.
2-Palermo: 239,440 USD.
3-Belgrana: $220,182.
4-Nunez: $218.8
5-Retro: 200 160 USD.
6-Villa Devoto: $191,981.
7-Recoleta: 191,307 USD.
8-Coghlan: $183,024.
9-College: 182,503 USD,
10-Villa Urquiza: $180,715.
11-Chacarita: $174.3
12-Villa Ortuzar: $172.4
13-Saavedra: $168,155.
14- Horse: 164.6 USD
15-Villa Luro: $160,935.
16-Villa Crespo: $158,329.
17-Liners: 153,524 USD.
18-Chacabuco Park: 151,717 USD.
19-Parque Chas: $150,979.
20-Villa del Parque: $150,759.
21-Boedo: $149,795.
22-Agronomy: 147,442 USD.
23-Villa Pueyrredón: 145,209 USD.
24-Barracas: $144,591.
25-Almagro: $144,455.
26-St Telmo: $144.0
27-Mount Castro: $143,902.
28-Flores: $140,922.
29-Santa Rita: $139,084.
30-Versalles: $136,656.
31-Paternal: $132,004.
32-Slaughterhouses: 131,114 USD.
33-Villa Real: 129,750 USD.
34-Saint-Nicolas: $126,687.
35-Villa General Mitre: $126,594.
36-Vélez Sarsfield: 125,018 USD.
37-Monserrat: $123,815.
38San Cristóbal: 123,673 USD.
39-Balvanera: $118,902.
40-Forest: $116,980.
41-Patricios Park: 113,375 USD.
42-Avellaneda Park: $112,248.
43-Villa Creek: $109.7
44-Constitution: 107,022 USD.
45-La Boca: $101,292.
46-New Pompeii: 98,608 USD.
47 place: $75,096.
48-Villa Soldati: $63,076.
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