New figures have found that the
sales of property in Argentinaââ¬â¢s capital Buenos Aires have increased
significantly in the last year.
Data from the Provincial Notary College showed that sales of homes in
Buenos Aires increased by 13 per cent between March 2011 and March 2012 with a
particularly steep rise in sales in the last couple of months.
Keep reading to learn more about
the booming sales and rental market in Buenos Aires.
House sales in Buenos Aires rose 77 per cent between February and March
2012
The figures also showed that
house sales are up 7 per cent on a quarterly basis whilst sales have surged 77
per cent on a monthly basis with March seeing significantly a higher number of
transactions than February.
Property Wire reports that ââ¬ËA spokesman for the Notary College said
that transactions are expected to continue their growth in coming months as
real estate is increasingly being seen as a solid alternative to savings and
investment.ââ¬â¢
Rents also booming in Argentina capital
As well as an increased number of
house sales, rents in the Argentinean capital are also increasing. A report from Reporte Immobilario found
that rents were increasing most notably in Centro, Palermo, San Telmo, Barrio
Norte, Belgrano and Recoleta.
Overall, average rents in Buenos
Aires increased between 5 per cent and 20 per cent in the last year. One bedroom apartments saw rents rise
by one fifth while two bedroom apartments saw rents rise by 14 per cent.
The cost of renting also varies
according to location. The Puerto
Madero area saw a 30 per cent increase in rents for one bedroom apartments
while San Telmo saw a 27 per cent increase.
Barrio Norte saw the biggest
increase in rents from two bedroom apartments at 28 per cent while rents for
three bedroom apartments increased by one fifth in Palermo.
written by Nick Marr
