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Source: The Bubble
By: Kristine De Bever
Inflation may have gone slightly down since it peaked in April this year (the highest rate in 14 years), but the average price of a standard, used apartment in the City of Buenos Aires reached an all-time high this month, at US $1,945.60 per square meter, according to consulting firm Reporte Inmobiliario. This is the highest it’s ever been, surpassing August 2012 prices, the last peak.
The study kept track of the real estate prices over time and revealed that the value of one square meter of an average, used City apartment in good condition is 7.06 percent higher than it was at this time last year. In the capital as a whole, the value of one square meter of an apartment has increased by 119.72 percent over the last 10 years.
Apartments in the posh neighborhood of Recoleta took the cake, with a price tag of US $2,850, followed closely by Barrio Norte, Retiro and Palermo. Constitución, on the other hand, has the lowest average of all neighborhoods at US $1,515 per square meter.
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