Property prices per square meters in pesos in the City of Buenos Aires

Even though the mind of several Argentines is still set in “dollar” mode, nowadays it is normal to find prices in Argentine pesos. The “pesificacion” (the way they call the process of changing the methods -or currency- of payment from dollar to pesos) for the real estate business was planned in order to unlock the selling-buying transactions, especially after it became harder to get dollars.

According to the media, in July 2013, it was estimated that the selling price of properties in Buenos Aires rounded the 500.000 argentine pesos. Moreover, in June 2013, the average sale price on the real estate transactions was of 575.000 argentine pesos.

Still, these are just statistics, since some specialists also comment that since there is not much demand or supply in the real estate market, there aren’t prices at all, and in general, prices tend to stay the same. This was explained by the President of the “Camara Inmobiliaria Argentina” [Real Estate Organization in Argentina], Roberto Arevalo. He also added that those owners who need to sell their property and who are tired of waiting, usually tend to lower the prices.

Other data that was collected on the price per square meters in the City of Buenos Aires and on the number of title deeds that have been closed during 2013 showed that the number of deeds on more expensive properties has risen. Still, the highest percentage of transactions on the Real Estate market signed in the City of Buenos Aires round the 250.000 and 500.000 Argentine pesos.

To conclude, the price per square meter in the City of Buenos Aires over properties has kept steady during the first half of 2013, especially due to the freeze on the sales that the Real Estate business has gone through. Nonetheless, in the end, each sale price will depend on each property and on the agreement that the buyer and the seller reach at the moment of closing the deal.