Section 2 - Searching
properties in Buenos Aires.
Now that we know our goal, is time to search.
Searching for property can be very time consuming. There are hundreds of
different real estate agencies.
They all will promise you to search all the market
though their databases, and to offer you the best properties.
But in my experienced they always
will try to sell you what they have in stock so they don't have to share
their commissions with other realtors.
Commission is 3% is charged
to the selller, and 3% to the buyer. In some cases it can be 4% each, some
new buildings constructors will ask 4%.
The best source for finding a property
Classifieds ads in
La Nación and
Clarín Newspapers on
Sometimes is not easy for myself to understand
the abbreviations of the ads. The area to look is Barrio Norte (this
includes Retiro, Recoleta, some parts of Palermo, and anything close to
Barrio Norte (North Neighborhood) does not really exist in
the maps, but
people call the Retiro + Recoleta that way.
Because it is a desirable
area, Barrio Norte is a growing denomination, some realtors will
advertise properties in Barrio Norte that are not really neither loctaed
in Recoleta or Retiro.
In the ads you usually have the address of the
apartment, the sq meters it has, the price, and a description. We will
create a dictionary of real estate abbreviations, so it is easier for you
to look up.
Mark the properties you are interested. It can be helpful to
mark them also in a map so you get an idea of the location and the relation price /
Finally, you have to take in account how far is
the property from main avenues like
Santa Fe, Alvear, Callao, etc.
Santa Fe Avenue is one of the main dividing
lines, to the south of Santa Fe will be cheaper, to the north more
expensive. The same happens with Alvear Av.
The South of the city is less wealthy and developed than the North (Recoleta,
Barrio Norte, Palermo, Belgrano, etc). The only area in the South that
developed incredibly well in the last years is Puerto Madero (the docklands)
which are now one of the most expensive areas of the city).
This division has historical reasons. In the 19th century the South was
originally the best part of the city, but a yellow fever epidemic struck in
1850's in this area (specially in San Telmo), and everybody who could afford
it, moved to the North of the City, far from the water and the Port, where
the epidemic was originated in those days. The epidemic is something of the
past, but no one moved back after it, and this dividing line continues to
exist up to the present.
The local Government tries to promote the Southern areas of Buenos Aires
City, but I would bet in the success of this plans. This may -or not- change
in the future if the prices in the North increase too much, but right now,
the hot area to invest is the North.