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  • Writer's pictureTerri Casey

Does it make sense to reinvest in properties after the change of government?

Updated: Dec 5, 2023

According to data collected by the Zonaprop platform, from the peak in March 2019 to the present, the average property prices in the Autonomous City of Buenos Aires (CABA) have fallen by more than 22%, decreasing from US$ 2,800 to US$ 2,170 per square meter (m2). Meanwhile, in Greater Buenos Aires (GBA), prices also retreated by approximately 20%, reaching US$ 2,160.

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In this context, many savers with a certain amount of liquid capital, who may not be familiar with or trust other investment alternatives such as negotiable obligations or mutual funds, wonder whether, with the change in government, it is the right time to invest in real estate.

According to Gabriel Brodsky, CEO of Predial Propiedades, the answer is clear: "I believe we are at a historically low point in values. We are selling properties at prices from 10 to 12 years ago, and in recent months, there has been an awareness in demand about this situation."

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"Properties in Argentina are very cheap, to the point of being at a liquidation price. With a change in government, there are changes in expectations and obviously adjustments at both macro and micro levels. It is highly likely that very good years are coming for the real estate industry," added Brodsky.

Ariel Champanier, CEO of Remax Premium Argentina, also expressed optimism: "I think it's the moment to invest because prices are still very low, and there's a good outlook and positive feelings about what's coming for Argentina."

Currently, a 40 sqm studio apartment in the city is negotiated for around $95,000, while a two-room, 50 sqm apartment has an average price of $114,000, and a three-room apartment with 70 sqm is approximately $159,000.

Although these properties are still unaffordable for millions of Argentinians, they are at "attractive" levels, and many savers are already seizing the opportunities.

According to the Notary College of CABA, the total number of property purchase deeds grew over 53% year-on-year in October, totaling nearly 4,600 records, reaching a level not seen since 2017.

"In the current situation, we find that everything priced right is selling. If the property's price is adjusted to the current market situation, one, two, three, and four-room properties are selling. What is mainly moving are small units intended for use on Airbnb or short-term rentals in certain areas of the city of Buenos Aires," said Brodsky.

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And he added, "On the other hand, you have people who need to grow in square meters for family reasons and are buying three or four-bedroom apartments. They take advantage of the fact that today they can buy better locations or better types of properties, more square meters, more rooms compared to other times."

Looking ahead, real estate market experts expect that the new government will instill confidence and create conditions for people to want to invest in properties rather than just keeping their dollars "under the mattress."

"Fortunately, there is plenty of money in Argentina. What is lacking is a government that provides tranquility and conditions of certain stability, without constant rule changes, so that investors can carry out the operations they need," Champanier concluded.


Inversión Inmobiliaria

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