Buenos Aires Real Estate

Barracas has recently become an alternative neighborhood to find housing, thanks to the renovation of some historic buildings and the arrivals of a few important companies to the area.

Just ten minutes from the Obelisk, and with avenues Martín García and Regimiento de Patricios connecting the area to the financial and civic center of the city, Barracas has seen a revival. Much of this new activity can be attributed to the HSBC offices, which now sit on the same block that the Cruz de Malta yerba company occupied for decades.

The new building came to life two summers ago, with a total of 6,600 square meters, 5,000 of which belong to an office complex for 1,600 employees. Locals to the area have noted how the new situation does nothing short of infusing life into the neighborhood, as many young men and women are being trained to work in those office buildings. For many, it is a time of rebirth.

This new development is an embodiment of what experts have been saying for years: that Barracas has great potential for businesses and shops. In the area around the new offices, apartments are becoming harder and harder to find, as people are looking for the cheaper alternatives as even better, being close to their new jobs. It’s a positive boost for the neighborhood.

Between the access roads and the relatively low price of land in the area, it is the perfect place for new development. And real estate experts agree that, despite the economy, this area has managed to maintain a healthy level of growth.

In this specific area of the real estate Buenos Aires, the prices seem to speak for themselves; the price of finished construction has risen to USD 1700 or 1800 per m2. But the available spaces are beautiful, many maintaining exposed brick walls, and otherwise reliving the original time of splendor in the area. And many spaces that have yet to be reconstructed are just sitting, waiting to be repurposed and redesigned.

One of the most important and interesting buildings in the area is what used to belong to the Fábrica Argentina de Alpargatas, a vast industrial complex that has since moved to the Greater Buenos Aires area. Current plans include a partial demolition of the old facilities, and an extension of the existing buildings.

Most Barracas locals are embracing this new time, ready to leave the crisis in the past and move on to a new, more prosperous time. It has ample space, close proximity to the city center and a healthy attitude. Sounds like a recipe for success.