Price comparison for house sales in Madrid and Buenos Aires

During the last few years, Madrid and Buenos Aires have gone through different economic situations, and its real estate panoramas have also been totally different. In Buenos Aires, during the last few years (and even the last few months) the real estate and construction boom has made prices go up when it comes to buying a house or an apartment. This, plus the increase in the dollar exchange (in Argentina the real estate transactions are generally done in dollars) have made the prices go even higher. On the contrary, in Spain, due to the economic crisis, prices have gone down. This is because there are more people interested in selling their houses than buying one. Still, in Madrid and a few other localities, prices have gone a bit higher (but not much). Nevertheless, if we compare the raise percentages, the rising tendency over the real estate prices in Buenos Aires is higher than those in Madrid.

According to some information give by the website “fotocasa.es”, the average price of a house in Madrid in April 2013 is €2483 per square meter. It should be mentioned that Madrid is considered one of the most expensive cities of Spain.

In Buenos Aires, according to an index provided by the website zonaprop.com, the average price of a house during May 2013 in the City of Buenos Aires was of US$2072 (a bit less than €1590).

As we have mentioned, although the prices in Madrid are still higher than those prices of a house in Buenos Aires, during the last few years, prices in Buenos Aires have gone higher in percentage than those prices in Madrid.

Likewise, the economic situation and the income per person of each country should be considered in order to see how difficult it is to earn that money in each country in order to be able to buy a house (both in Madrid and in Buenos Aires.)

Still, if we just look at the numbers, at this moment it is more expensive to buy a house in Madrid than in Buenos Aires.