The different Unions in the construction Business

A few months ago, the construction field has been affected and has (consequently) frozen. This was produced by the obstacles imposed over imports and the currency exchanges, which has caused inversion over the different areas of the economy to stop, including construction.

After the economic downfall that Argentina suffered in 2001, one of the pillars that moved the country’s economy forward was construction. The reason why construction was so important can be seen by analyzing the great amount of unions and professionals that intervene in the construction business.

Within the construction field you can find workers, electricians, plumbers, gas fitters, engineers, architects, the whole personnel of the industries in charge of the elements used in construction, (including things like dumpsters, dump trucks, scaffoldings, beams, etc.), machinery industries and operators, among others. We cannot fail to mention that Argentina has a lot of construction companies, which have their own employees; plus, the ones who are in charge of selling these constructions: real estate agents.

So, as we can see, the number of Unions that is involved in this field is large, and if this activity freezes, the economy will do too. Moreover, construction is a key point when it comes to investment for an economy. It is a matter of promoting the construction investments or finding the way for it to start moving, in order to generate new jobs, and businesses, industries, etc. so that the whole economy starts moving forward.

So, as the construction field involves many unions, jobs and activities; it is necessary to find a way to put the field in motion, in order everything else moves. 

Mortgage Loan plan of the City of Buenos Aires

The Government of the city of Buenos Aires has launched a new mortgage loan plan. This new loan plan targets to those people that can prove having a minimum income of $2.300 pesos or more per month. The Mortgage loan Plan took the name of “Primera casa BA” (First House BA), and it aims at providing young people their own house, by paying affordable installments with accessible interest rates. This new plan was launched through the IVC (Institute of Home of the City) and the loan will be granted through the “Banco Ciudad”. Moreover, through the plan, a financing of the 85% of the property value is expected.

In order to be eligible for the loan, the following requirements are a must:

-          Being between 18 and 50 years old.

-          Being Argentine or having the residence in the country (for at least 2 years before the application.)

-          Not having history records of debts

-          Having a net income from $2.300 to $9.200 (for individual applications); and from $2.300 to $11.500 (for joint applications).

The type of home to acquire must fulfill the following requirements:

-          It should be to use as a permanent home.

-          It must be within the City of Buenos Aires and Gran Buenos Aires.

-          It must have a value of up to US$70.000 (for applicants without kids); and up to US$95.000 (for applicants with kids)

-          The square meter value must not be higher than US$1.700

According to the Head of Government in the City of Buenos Aires, it is estimated that there will be given around 3.500 loans during the first year. These (loans) will be given monthly through a score system that will take into account: the house conditions, family situation and income.

On the other hand, according to some specifications, the mortgage loans will be given in pesos through the “Banco Ciudad”, for periods of 15 to 20 years. Moreover, interest rates are fixed and are of 7% (during the first year); 8.50% (during the second); 11% (in the third); and from the forth years on, the interest rate will be of 14%.

Mortgage Loan plan launched by the National Government

A few days ago, the National Government has launched a new Mortgage Loan plan. During 2012 and 2013, 100.000 mortgage loans will be granted. The idea of this new launching of loans is to promote the construction business, and help the economy to move and generate jobs, as well as providing people new homes.

The Mortgage Loans will be granted by the “Banco Hipotecario” with funds from the ANSeS (National Social Security Administration).

The Plan aims at people between 18 and 65 years old, without a minimum income amount. The loans will be up to $350.000 (Argentine pesos).

According to the family income and the type of credit that the person wants and the amount, the payment period will vary (installments are to be paid in 20 to 30 years), as well as the interest rate.

In addition, according to the loan plan, you can access to one with or without having your own plot of land. For those who do not own their own plot of land, the government will provide 1.700 hectares of Public Land around the country. All those who qualify to receive the loan mortgage (and don’t have a plot) will take part in a draw done by the national lottery.

On the other hand, the interest rates will be fixed during the first years. Afterwards, they will be variable, between 4% and 18% according to the type of loan.

The Mortgage Loan Plan is part of the “Programa Creditos Argentinos del Bicenterario para la vivienda única”. Its target is wide, since it aims to reach all social groups, in order all of them can get their own house, and, in the mean time, the economy and all its sectors continue moving.

Would you sell your property in pesos?

Since the end of 2011, the Argentine economy has gone through some changes in its politics and the idea of “pesificar” (make all transactions in pesos) has been trying to be inserted into the Argentine minds. One of the ways of accomplishing this was through the prohibition of the free exchange of currencies (especially dollars). This has caused a great impact over the real estate business, since all transactions were generally made in dollars. Currently, the idea of getting dollars for this or any type of transactions is banishing, so even the same real estate agents are beginning to implement the idea of “pesificar”. If you were on this situation, would you sell your property in pesos?

The truth is that the Argentine mind still thinks in dollars, so if a person wants or needs to sell his/her house, he will think of doing it in dollars.

Nonetheless, there are many people that really need to sell their houses, and maybe they have the idea of buying another. If a person is in this situation of urgent necessity, maybe they have no other choice than selling it in pesos.  Moreover, if they are planning to buy another property with that money, you should first check if the seller of that house accepts pesos as well. So, if you are planning to sell you property and reinvest it in the country, it shouldn’t be too bad to accept the pesos.

On the other hand, if the intention of “pesificar” the whole country (and taking the dollar out of the minds of many) works, having your savings in pesos will not be a crazy idea, either. It is only a matter of investigating if the economic situation will change and if the objectives the government has planned become a reality.

To conclude, if you have the urgent need of selling your property and you are planning to reinvest it in the short term, there is not much to think about, accepting pesos might not be so bad; nonetheless, the recommendation might be that you can make a list of the pros and cons of selling your property in pesos and then decide. 

Agreement to pay installments for a real estate in dollar: can I seek protection from the Law?

During the last few weeks, some specialists and lawyers have commented in different media that those who thought the new rules imposed by the government were violating a constitutional right could appeal for Constitutional right’s legal protection.

Many people in Argentina are worried because they have to pay some debts in dollars, and since they have a contract, they cannot solve the situation; they can only pay in dollars. Otherwise, they would be breaching the contract. For these people, the specialists say that you can present an appeal and ask for protection from the law, so they can get the necessary amount of dollars to pay the debts.

When referring to this situation, the person in charge at the “Colegio de Escribanos” (Notary Publics’ Association), Carlos D’Alesio, mentions that “if a preliminary sales agreement says that the transaction must be done in dollars, this must be done in that currency”, so he didn’t ruled out that “the buyer can bring legal actions in order to get the dollars the person needs”. Moreover, he also mentioned that since there hasn’t been “changes in the law, those who have committed to pay in dollar, must do so”.

As the head of the “Colegio de Escribanos” explains, if the debt and the contract specifies that the payment should be done in dollars, they will have to be paid in that currency; moreover, although a negotiation with the creditor can be done in order to pay in pesos, if the latter doesn´t agree with that, then you need to get the dollars.

So, all those who have a to pay some debt or installment in dollars, especially those in the real estate business, may seek protection from the Law, in order to get the dollars and pay the debt in due time and in proper form. 

50% decrease on real estate activity

Due to the rules imposed during the last few months in Argentina, the real estate business has been affected. Since November 2011, when the impediment to exchange pesos for dollars and other currencies appeared, the real estate business began to decrease. Month by month, the situation has not improved; nonetheless, specialists in the area are looking for different ways of solving the situation.

The biggest problem is that sellers want dollars and buyers can’t get them. This has caused the real estate transactions to freeze. Moreover, this has not only affected transactions, since, during the last month, the construction authorizations have also decreased. According to Carlos Sotelo, vice-president of the “Colegio de Corredores Inmobiliarios de Capital Federal” (Real Estate broker’s association), thinks that “we shouldn’t forget that if the real estate market freezes, the main industry, the construction, will fall; and the latter has been vital to the economy after the crisis in 2002.”

According to the statistics, the situation doesn’t seem to get better, rather the contrary. For this reason, the real estate business is looking for solutions in order to unlock the situation. One of these solutions is the “pesificación” (turn the dollar transactions into Argentine pesos).

According to Fernando Lago, director of the “Camara Argentina de la Construcción” (Construction Association in Argentina), the tendency to turn the contracts from dollars into pesos “is already generalized and so it is the launching of new ones in pesos”. The problem is that the option of paying installments in pesos is valid when the construction is done from zero, since the owners of houses that have already been built, want dollars.

To conclude, while the impediment to buy dollars or other currencies continues, and so the imposition over imports of goods for construction, the real estate business will continue to be affected, and the property transactions and construction will continue to decrease. Nonetheless, the brokers and specialists are trying to find new ways of solving this problem. 

Imported materials used in construction: do they influence?

As we have analyzed on other occasions, the construction business has decreased its number of constructions. Some of the reasons for this are the economic uncertainty the country is going through and the difficulty in getting dollar bills. In addition, there is another issue which is the restriction over imports in the country.

Due to the measures imposed by the government which restrict imports, there has been a shortage (and lack) of many articles and materials necessary for the construction of new buildings and houses.

The ones that have suffered most are the VIP constructions, i.e.  the most exclusive ones. These types of constructions require special materials that you cannot get in the country, which means they need to be brought from other places. According to a consultant from Abeceb.com, “the population in possession of a higher purchasing power is the one that keeps the construction business moving, and at the same time, it is the one that demands a higher amount of imported materials when referring to the constructions of houses.”

In order to show the situation the country is going throw, here is an example: many contracts (used to finance constructions) specify on their clauses that some of the condition will be met only if the government allows the import of the necessary materials (when referring to the type and TRADE of the products).

So, as you can see, it is a fact: the restriction over the import of construction material influences directly on the business, and the specialists are on the alert, in order to see how the situation continues, so as to prevent problems in advance.

Classified ads on extinction

It has been for some years now that the classified ads on newspapers have begun to decrease. The main reason for this is that, currently, there are many free add services (or maybe cheaper) on the Web. The Internet boom has made many companies to choose this way of advertisements in order to get to more people.

Likewise, when someone needs to advertise a property, or some other ads as a job, the same newspapers offer a classified add option over their Web. This has made the number of people that use these types of ads grow. We cannot fail to mention that those people that have internet access on their houses will probably go to their computers to look for ads, instead that going out and buying a newspaper (since nowadays many people even read the newspaper online)

Nevertheless, in Argentina, there are some announcements and ads that need to be put on the newspapers, according to Law, which means that this type of advertising continues to be useful.

Moreover, many newspapers now offer both services, a classified ad on the newspapers, plus on their webs. This way classifieds are read by more people, since it is a reality that there are still some generations that are not always stuck to the computer; people still go to the newspaper in search of posts and ads.

To conclude, even though it is true that printed classified ads are decreasing in number, it is something that will continue to be in use for some time, whether because it is imposed by law or because it has the intention of reaching a wider range of generations.

Property sales are frozen due to the Dollar situation

Once again, consumption has beaten the real estate sales and inversions. Since the execution of the legislation that restricts buying dollars in Argentina and outside the country, the real estate sales have gone down.

A month ago, the situation was quite different. The “AFIP” (the Argentine national tax agency) allowed the real property transactions; in order to make the transaction, you needed to show the Bill of Sale and the corresponding documentation which explained where the funds for the sale came from. But nowadays, the AFIP does not allow many of the transactions, and property sellers won’t accept argentine pesos, so the real estate sales are stuck. According to the president of the "Cámara de la Construcción" (Construction organization), Nestor Walenten, “if (...) the first quarter's tendency is maintained, the 2012 could be the worst year of the decade for the real estate sector; even worse than in 2001.”

Currently, consumption has grown and savers have started to buy cars and other big consumption products, other than the real estate business.

Nonetheless, there is one interesting point to mention and it is that, despite the property sales having gone down during the last months, (it is estimated that in march, in relation to 2011, the reduction has been of 4,7%), the construction business has continued to grow, approximately 4,7%.

Many specialists estimate that the government will continue implementing the same legislations, so the investment flow will begin to decrease little by little. Likewise, specialists also believe that if the gap between the official dollar currency and the "parallel" one continues to grow, the situation could get worse.

Even though the repercussion of the economy of Argentina in the real estate area hasn't been too hard (yet), the low on the property sales is a reality, and it is only a matter of seeing what will happen during the next few months. 

Where can the “blue” dollar market get?

The dollar issue and its double exchange rate have become popular during the last few weeks in Argentina. The problem is that the “blue” (or parallel) dollar is becoming more popular than the official one. This is due to the fact that, even though the official dollar rate is lower than the parallel, not everyone can get them through those means.

During the last few weeks, the parallel dollar (i.e. bought in the black market) has been increasing its value, while the official rate has kept the same. This is because every day there is more people who buy in the black market than in the official one, (simply because they can’t do it in the latter).

Even tough the Government has been trying to go against the parallel market to stop it, this has made the situation to worsen. The cause is explained with simple economy: If you go against the black market, this creates financial anxiety, thus people want to buy more dollars, since they can’t do it on the official market, they do it in the black market; therefore, the “blue” dollar value goes up, and the government needs to reinforce its fight against the black market; and this becomes a vicious circle. As a consequence, the parallel dollar value continues to grow, and this could bring many negative effects on the Argentine economy.

So, it could be said that unless the government decides to make a reform officially and people become aware of the fact that this affect the economy, the parallel dollar value will continue to separate from the official one.

According to the latest news, the official dollar value is AR$4.49, and the parallel dollar value has reached the AR$5.92 and continues to grow. The difference between both has reached 27%. It is only a matter of time and actions that will make the situation to change, or just to stay the same.

Prices per square meter in the main cities of the World

Over the last few years, many studies have been done in order to know the different prices per square meter in different cities around the World. This was done so as to make comparisons, and help investor to plan and organize any future investments. As a guide, we will here mention some of the main cities and countries in the world, together with an estimative price per square meter.

According to “The Wealth Report”, done by the Citi Private Bank and the real estate consultant "Knight Frank", the most expensive place to live in is Monaco. Then, it follows Cap Ferrat (in the South of France), followed by London and Hong Kong.

On the other hand, according to the website globalpropertyguide.com the list of the most expensive countries is the following: 1- Hong Kong: US$ 17,875.45; 3- Japan: US$ 14,079.41; 4- Switzerland: US$ 8,328.99; 10- France: US$ 6,143.81; 11- Italy: US$ 5,721.67; 17- United Kingdom: US$ 4,829.08; 18- Spain: US$ 4,541.68; 31- Germany: US$ 3,208.01; 35- Brazil: US$ 2,822.62; 51- Argentina: US$ 2,082.35; 55- United States: US$ 1,882.82; 59- Chile: US$ 1,686.00.

The list is vast and long, and it includes many other countries. It should be borne in mind that these prices are an average, and they are an estimate of how much would a square meter cost in the downtown areas of the main cities. Nonetheless, you will find much higher prices (and a bit lower too).

Of course, that all those that are planning to buy a property in some city of the world, should do some research about each place, and see where it is best to do it, according to its needs and likes.

Rent prices in the main cities of the World

Renting a flat is something that is done in the whole world. Currently, buying real property is not easy (nor cheap), and therefore, renting them is the only choice for most. We will now mention and compare rent prices for unfurnished flats in the main cities of the world. You should bear in mind that prices will vary according to the location within the city, and generally the difference between one flat and the other is this (location). Furthermore, prices are in dollars.

Renting in Santiago de Chile, Chile:

2 bedroom apartment and 1 bathroom. Surface: 46m2. Price: US$ 412.

2 bedroom apartment and 1 bathroom. Surface: 46m2. Price: US$ 474

2 bedroom apartment and 1 bathroom. Surface: 44m2. Price: US$ 432

Renting in Paris, France:

Studio with a surface of 21m2. Price: US$872.

1 bedroom apartment and 1 bathroom. Surface: 23m2. Price: US$1105

Studio with a surface of 23m2. Price: US$ 1158

2 bedroom apartment and 1 bathroom. Surface: 71m2. Price: US$ 1312

1 bedroom apartment and 1 bathroom. Surface: 39m2. Price: US$ 1327

1 bedroom loft, with a surface of 77m2. Price: US$ 2080

2 bedroom apartment. Surface: 67m2. Price: US$ 2276

1 bedroom apartment. Surface: 40m2. Price: US$ 2341

Renting in New York, USA:

Studio with a surface of 28m2. Price: US$ 1400

Studio with a surface of 23m2. Price: US$ 1700

1 bedroom apartment. Surface: 37m2. Price: US$ 1900

1 bedroom apartment. Surface: 60m2. Price: US$ 2195

2 bedroom apartment. Surface: 56m2. Price: US$ 2500

Renting in London, UK:

1 bedroom apartment and 1 bathroom. Price: US$ 1484

2 bedroom apartment, in downtown area. Price: US$ 4033

2 bedroom apartment, on the East side Price: US$ 2517

Studio, with an en-suite bathroom. Price: US$ 1613

Renting in Madrid, Spain:

3 bedroom apartment, with 2 bathrooms. Surface: 180m2. Price: US$ 2600USD

1 bedroom apartment with 1 bathroom. Surface: 55 m2. Price: US$ 1030

1 bedroom apartment with 1 bathroom, Downtown area. Surface: 54 m2. Price: US$ 1040

2 bedroom apartment with 1 bathroom. Surface: 68m2. Price: US$ 1105

1 bedroom apartment with 1 bathroom. Surface: 55 m2. Price: US$ 1014

Renting in Miami, USA:

1 bedroom apartment with 1 bathroom. Price: US$ 840

2 bedroom apartment with 1 bathroom. Price: US$ 1030

Studio with 1 bathroom. Price: US$ 1090

1 bedroom apartment with 1 bathroom. Price: US$ 1350

1 bedroom apartment with 1 bathroom. Price: US$ 1400

2 bedroom apartment with 2 bathrooms. Price: US$ 2950

Town Houses’ Boom: no maintenance fees

Living on a “PH” (similar to a town house) has its pros and cons. Nonetheless, during the last few years, they have become popular again, and the main reason is that they don’t involve paying maintenance fees every month.

But that is not all. The PHs, together with the duplexes, are seen as the possibility of having one's own house, without the need of investing huge amounts of money. Even though PHs can be more expensive than apartments, this will vary according to its size and location. Moreover, currently, new types of medium town houses are being built, so they can occupy less space, but at the same time, they are practical, functional and comfortable (and cheaper).

For this reason, due to the construction of these “smaller” PHs, many young families with kids or couples choose this type of house when buying. Even tough buildings now offer plenty of amenities which allow the owner or tenant to have a swimming pool, a garden, parking space, etc. they all make the maintenance fees more expensive and they means a big monthly sum to pay.

On the other hand, when living in a town house, you don’t need an administrator, a superintendent, maintenance fees, or other common expense. Should there be a common area according to law, the co-owners will have to collect the money and pay it all together. The difference with the apartment is that it is not a monthly expense. Moreover, the infrastructure of the PHs is not as big as the tall buildings with plenty of apartments, so there won’t be too many repairs to make (at least not all the time).

The architect Claudio Mazur, of “+UR Architecture” talked about the PHs' buyers and said that they are usually final consumers instead of investors. This type of consumers look for a reduction in their monthly expenses, and they also like having "their own sidewalk; enjoying a back yard; a garden; a barbecue; a terrace, and even a swimming pool; all this is considered by many as the realization of their dreamed life."

A new type of house is starting to go up in Buenos Aires, so, future buyers should analyze: House, apartment, or PHs (town houses)?

Has rent reached its limit?

In different newspapers, and according to some real estate specialists, there are a variety of opinions on rent going up or down. According to some of them, inflation will soothe, so the rent prices will be stabilized; according to others, this won’t happen.

inflation affects all areas of the economy, and they also appear in the utility bills every month. Rents are no exception to the rule. Even though there has been a limit imposed on the percentage of the rent prices' raise, it is inevitable that they do in fact go up. Thus, even though there is a roof on that increase, within time, rent prices will be adapting according to the economic situation.

On the other hand, generally the prices that tenants pay have previously been negotiated with the owner of the real estate and the agency that manages the property. Therefore, each price can be handled individually for each particular case.

According to the newspaper, “El Argentino”, “since 2007 until 2011, rent prices have had a raise of 110%”.

Nonetheless, not everything is black. According to iProfesional.com “rises are inevitable (during 2012), although there will be more moderate than the other years”.

According to some data given on many newspapers and other media, the increase on real estate rent prices will vary between 15% and 20%, depending on the neighborhood. The areas where prices have increased the most are Belgrano, Recoleta and Barrio Norte, which are also the areas where there is higher demand.

To conclude, even though there is a roof over the rent prices, i.e. a limit on the allowed percentage, these will continue to go up a bit. The most important issue is that the stay coherent according to the inflation rate, and that each tenant negotiates with its property owner that rents.

5% drop in construction in the City of Buenos Aires

After several years of growth and increase in the investments on construction, the city of Buenos Aires has finally reached its limit. Even though during the first months of the year the construction business was still on the rise, in March there was a little decline. There are many reasons why this situation has happened, but the main reason has to do with economy itself, which indicates that everything that goes up has to go down at some time.

During the last few years, there has been a construction boom in the city of Buenos Aires. Many constructing businesses and people have invested in construction, and this clearly couldn’t last forever.

A main point that might have help in the 5% drop in construction in the City of Buenos Aires is the uncertainty that the country is going through economically speaking. This has generates investment to be on standby; opposite to what is had been happening before. Another reason for this drop could have been caused by the restrictions on buying dollars. Argentina has always compared its currency to the dollar and even the real estate’s transactions have generally been done in dollars as well. Currently, this system is changing, but in the mean time, many prices are still fixed in dollars.

Likewise, we cannot fail to mention that the most important neighborhoods of Buenos Aires are filled with new buildings and constructions, and neither the infrastructure nor the physical space can handle much more constructions.

According to an real estate agent “during the last construction boom that the argentine market went through something new has happened, it wasn’t built on credit, but with the exceeding money from people savings.” So here, we can find another reason: there is no more surplus. With the economical uncertainty in the world, these days no one wants to ask for a long-term loan either, so there is no money to invest with.

So, the causes of the 5% drop in the construction business in the City of Buenos Aires are plenty, and each person or business must have their reasons. Little by little, there will appear a new area to invest in and the economy will spread their investment on other areas.

Main Streets and Avenues of Buenos Aires

The city of Buenos Aires offers something else than monuments, buildings, and amazing parks; it also has a very rich story. A very interesting way of learning history and reviving it is by visiting some of its streets and avenues. Some of them offer a tour around the main historic buildings of the city which were important throughout history; others offer glamour and distinction, or they can be strategically located to move around the city, and; some streets even have a story of their own to tell...

Let’s see some of the main avenues and streets of Buenos Aires:

Avenida Santa Fe: Santa Fe Avenue is one of the mostly known and visited of the Buenos Aires. This avenue starts in Avenida Libertador, where the Plaza San Martín is, in Retiro neighborhood, and it extends for over 40 blocks. The Avenida Santa Fe is known as the “Fashion Avenue”, since it is considered as the main commercial area (where they sell mainly clothing) of Buenos Aires.

Avenida Alvear: Alvear Avenue is the most distinguished avenue of Buenos Aires. Even though many year ago, before it was called like this, it was considered as “useless and unsuccessful", today it is the place where the main trades of the world have their shops. This avenue is where wealthy citizens and tourists go shopping when they want something unique and luxurious.

Avenida 9 de Julio: 9 de julio Avenue is popular for various reasons: First, it is considered the widest avenue of the world. This avenue has 140 meter wide and it is complicated to cross in only one time. Second, the “Avenida 9 de Julio” offers along its extension a great number of historic icons, like the Obelisco and the Colon Theater, just to mention a few. Of course, it is also a very important artery that communicates the North and South of the city. Its name is in commemoration of the Argentine Independence, which took place on July, 9^th, 1816.

Avenida Rivadavia: Rivadavia Avenue is the longest avenue of Buenos Aires. It is a really important avenue, since it connects the whole city. It begins in “Plaza de Mayo”, in the historic center of the city, and in ends in Merlo, an area of Buenos Aires located at 35 Km from its starting point. This avenue is also important and interesting to mention because it was here where the first bus passed, in 1928.

The list of streets and avenues of the city of Buenos Aires and its surroundings is really long. We have only mentioned a few, which may be considered the most important due to its history, the amount of people that passes along or visits them…

Temporary rentals on Holy Week

During Holy Week, many people like to make little trips away from the city. Although many sees it as a little break, hotels, temporary rental owners and all the accommodation industry get to work really hard.

In relation to temporary rental, you can find many offers in the many touristic points, especially on the cities by the beach or near to the city on Buenos Aires. Some of the main cities are Mar del Plata, Pinamar, Necochea, and other beach-cities.You can also find many alternatives in many cities of the province of Cordoba. Other touristic areas are the Iguazu Falls and the thermal areas in Entre Ríos, but these places don't have much rental options, since there are many hotels with plenty of services instead.

An owner in Pinamar rents his 3-room house at $1500 pesos during holy week. Another person, in San Bernardo rents his 2-room apartment for the whole week, at $1100. In Quequén (a little town near Necochea), there is a house for temporary rental and it costs $150 pesos per day. In Necochea, you can find an apartment for up to 7 people, at $250 pesos a day. Mar del Plata is another interesting option: You can fin an apartment in the neighborhood of Punta Mogotes, at $300 pesos a day.

In the province of Cordoba you will find some other options. In Villa Carlos Paz, you can find a 2-bedroom apartment in the downtown area of the city at $380 a day. Moreover, a house for up to 7 people can cost you around $400 pesos a day in that area.

Even though prices tend to go up during long holidays, like Holly Week, due to the great amount of tourism that there is during that time, you may also find a great amount of interesting offers, which may give you a good reason to go away for a couple of days and relax.

Temporary rentals are everywhere; there are plenty of options and they are a good place to rent, and enjoy the comfort of feeling at home, but while enjoying a nice view, away from the crowds.

History of the temporary rentals

The concept of “rent” comes from a Latin origin that goes far in the time line in the world's history. During the Roman Empire, the lower classes used to rent in places called the "insulae" (buildings made of many floors with balconies), and they lived there. According to history, since there where no services of any kind, at night, people used to through all types of waste through the window. Moreover, it could also be mentioned that during feudalism times, the Lords used to have a type of “rental system” with their vassals in exchange of the food he grew there (among other things).

So, since the beginning of time, the social inequality existed, and the ones that have more income used to “rent” places for those who had less. According to some sources, the rental system started as a public thing, that is to say, the government used to take care of that, and then, it passed onto the private world.

Despite this information, there is no exact data on when, how or where, the idea of “renting” emerged.

Within time, societies began to set rules over rent, since the landlords would generally take advantage of the tenants. Thanks to this, limits were imposed over rent, and the obligations and liabilities of each party were established in writing.

Moreover, during the last few decades, thanks to Globalization, the amount of people moving from one place to the other grew enormously, and many people moved for short periods of time. This meant the beginning of the “temporary rental” system, since many people needed to stay in a city for just a couple of weeks or a few months. We could suppose that this type of rental system appeared in the USA, since many companies send their employees around the country, between States, for some months. This made it necessary for people to be able to rent for a short period of time and with everything included in the bill. So, temporary rentals were created. This allowed every business traveler, exchange students and “short-period visitors” to stay in a place with furniture, kitchen, and all appliances... as if they were living there. Within time, this became really popular all over the world, and not only for people who came to study or work, but to tourists who liked the idea of having the freedom and having their own apartment in cities like Barcelona, London, Paris, Miami, New York, and more…

More office buildings in Belgrano

Truth be told, nowadays, the accesses to the downtown areas of Buenos Aires are very complicated, and, therefore, a new business area is being searched. This new area, of course, is the neighborhood of Belgrano. In the last few years, many companies, both small and big, have chosen to move to the neighborhood of Belgrano. Without figuring out if it has been the cause or the consequence, the number of office buildings in Belgrano has increased surprisingly.

One of the reasons why some people and businesses have decided to install their offices in Belgrano is for the great communication the neighborhood has to offer in the whole the city. Belgrano is easy to reach from any point of the city and the province, even from the downtown area or the center of the city. You can get to Belgrano in a matter of minutes, by subway, bus, train, or car.

The office buildings that are being constructed in Belgrano these days are well adapted in order to satisfy all the needs, including amenities, services, the latest technology, and more. Within the types of amenities you may find in the buildings, we can mention Internet Wi-Fi, Business Centers, fully equipped offices, security at the entrance, in and out register, among others.

According the La Nacion newspaper, the businesses that usually install their offices in the neighborhood of Belgrano are those that “need little contact with the downtown area, such as design agencies, medical offices and laboratories, producers, and constructing businesses.”

The price for the offices in the neighborhood of Belgrano has increased, and the development of new offices continues to grow. Nevertheless, no sudden raises in the prices are expected in the near future.

Whether it is for its easy accessibility, or its latest technology facilities, the offices in Belgrano are a proof that the businesses keep expanding around the city of Buenos Aires, and that now you may find them somewhere else besides the downtown area.

Neighborhood growth: Villa Urquiza

During the last 5 years, the neighborhood of Villa Urquiza has grown a lot. Each day, there are more buildings and, to these days, there are only a few plots of land left to construct. According to some statistics, Villa Urquiza is the third neighborhood of the city that has had the greatest amount of constructions during the last eight years, after Palermo and Caballito.

One of the reasons why this neighborhood started to grow is the subway arrival. Since 2003, when the metro stations "Los Incas" and "Tronador" opened, Villa Urquiza started to become more noticeable. Likewise, according to what has been established, the metro line "B"will get to Monroe and Triunvirato, where people will be able to take the Mitre Train (branch J.L Suarez - Retiro). This has promoted that the construction companies began to build apartments in the area. Year after year, the number of new constructions in Villa Urquiza has increased significantly, which has provoked a raise in the prices of land and the apartments itself.

The neighborhood of Villa Urquiza delimits with the streets Av. De los Constituyentes, Av. de los Incas, Holmberg, and Crisólogo Larralde. The neighborhood has always been undermined by Saavedra and Belgrano, since they are very close and more popular. Nonetheless, as we have mentioned previously, since 2005, Villa Urquiza has increased the number of buildings and neighbors that has came to the area to live.

Besides the future subway connections, the neighborhood of Villa Urquiza offers a variety of fast routes to move around the city and get anywhere in a matter of minutes, since it has many accesses, such as Panamericana Highway and Av. General Paz.

On the other hand, besides the number of constructed new properties, the neighborhood has also grown in style; many people now request for properties of greater quality and comfort, which means that many apartments now offer amenities within the building.

It is expected that the neighborhood of Villa Urquiza continues to grow, both in the number of constructions and neighbors who live there. With the arrival of the subway, this is only a matter of time…