Buenos Aires Real Estate

Modern Apartments versus Classic Apartments

Buenos Aires is known for its great mix of old and new—its French architecture is world-famous, but the city is also proud to be on the cutting edge, fashionable and trendsetting. This is true of the real estate market in the city, as well, as the city offers both grand, classic apartments and buildings, and modern, luxurious Buenos Aires apartments and buildings.

For buyers, choosing between the two styles has much more to do with the buyer’s personality than with the price. Some value the amenities and services offered, while others prefer the classic European style.

The older Buenos Aires apartment buildings, 60 years old and older, can be found all over Recoleta, Retiro, and some parts of Barrio Norte. The newer, trendier places, with the latest technology and services, can be found in Palermo, Puerto Madero, and in the sought-after avenues of Begrano or Nuñez.

Today, it would seem that the available apartments in Buenos Aires without amenities are outside the view of those with the greatest buying power. While this holds some truth, it is necessary to look at the age of the buyers. Buenos Aires real estate market truly offers something for everyone.

Usually, those looking to buy Buenos Aires apartments within the older buildings in privileged locations are older than 50, and they are also looking for incredible views toward green spaces—parks and plazas. The preferred Buenos Aires apartment buildings of this category tend to be around Plaza Francia or Carlos Pellegrini, Plaza Armenia and Plaza San Martín. Older buildings are also preferred by foreigners and higher-class local families who grew up with the classical style.

Younger people, however, tend to like the buildings with good gyms and pools.

What is interesting is that both the old and the new of high caliber are full of value. They just differ in the sort of value they offer, and different audiences will see the different advantages in different ways.

Many old buildings have no parking, while the newer ones do. And the sale price of the newer Buenos Aires apartments in generally slightly higher than that of the older buildings, but that doesn’t change the value as perceived by the buyers.

There is a little of everything. Some clients want amenities, others already have a house in, say, Punta del Este, and want a distinguished building with ample rooms, light, and good views.

Young people often look for the connected, community feeling in a building, and wish to use their location as social networking. In these cases, the other people in the building and surrounding neighborhood also play a role.

Older buildings often boast high ceilings, large rooms, marble floors, art deco or French styles, and chimneys.

In the more modern buildings, however, their biggest assets are the services. Of course, good design and construction is important, but the buyers are really looking at the services.

Sometimes the styles can be mixed, especially Buenos Aires apartments on Av. del Libertador, which is great for those who want a little of everything.

Those looking to buy apartments at this level generally first choose a neighborhood, and then decide on a specific building and apartment afterward.

Expenses can also play a factor in the buyer’s choice, although many people buying at this level are not worried about the expenses.

There is a theory in the industry that the more services offered, the higher the expenses will be, as well. In reality, it depends on the number of units in the building. The fewer units there are, the higher the expenses will be. The general value of the apartment increases, as well, with a lower number of units.

For example, many buildings offer a doorman, an assistant, and security. The cost of these services will be much lower if split between 50 apartments, than by 10.

In the end, it comes down to three different major characteristics for those with great buying power: good location, high quality construction, and varied services and amenities.

There really is something for everything, it is just about finding the gem that is right for you.