Buenos Aires Real Estate

Avenida Corrientes

Historically and geographically Avenida Corrientes is the most prominent street in Buenos Aires. Corrientes snakes through the city, all the way up from the edge of Puerto Madero until it reaches the neighbourhood, Chacarita. The seventy blocks that the avenue covers also include the neighbourhoods San Nicolás and Balvanera and, the current focus of property developers, Almagro and Villa Crespo.

The Almagro and Villa Crespo sections of Corrientes Avenue are a hive of property development, for instance, here alone there are 15 buildings currently under construction, which will offer 65,000 metres squared of housing and Buenos Aires real estate experts predict that there’s plenty more to come in the rest of the year.

So why is Corrientes Avenue such a property hotspot? Corrientes is an avenue that is steeped in the historic tradition of Buenos Aires; its renown makes it a part of Porteño identity. In addition, the huge amount of transport links ensures its appeal to investors. A subway line runs along the entire length of Corrientes, plus there are dozens of bus routes. The avenue is also lined with shops, restaurants and theatres, making it an important commercial centre. The constant movement and busy nature of this street also increases safety for residents, which, in Buenos Aires, is an important factor to consider.

In the last 4 or 5 years, the opening of the Abasto shopping centre along the Corrientes Avenue has further boosted interest in the Corrientes neighbourhoods. This huge shopping centre has transformed the area, bringing about the opening of hotels and theatre spaces, which in turn has created a new neighbourhood that is now known, unofficially, as Abasto.

The popularity of Corrientes means that land is sought after and prices are high. One metre squared of land on Corrientes Avenue costs on average $500 and constructions here reach an average height of 36 metres. The majority of property developers are constructing 1 and 2 room apartments that cater for first-time buyers and young professionals who are looking to rent. Most developments along Corrientes also include amenities, such as swimming pools and recreation areas. Some places even offer bars and room service costing on average around $1700 and $2000 per square metre.

The modern constructions that are popping up along Corrientes Avenue are giving this traditional avenue a modern spring in its step, the fusion of old and new pleasing both investors and buyers.

Here are a couple of examples of properties available:

Corrientes 3553. 1 and 2 bedroom apartments and studios with large communal areas. Prices between $60,000 and $76,000.

Corrientes 4450. 1, 2 and 3 rooms. Prices: US$ 59.000, US$ 81.000 y US$ 142.000 respectively.