Building Costs Per Square Metre in Argentina – Turner and Townsend
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- 20 Jul 2022
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Cost of building a house in Argentina.
Building your own home is a challenge anywhere in the world, but in countries with unstable economies, it can be even more difficult. However, this does not mean that it is impossible, and in fact there are hundreds of types of houses that can be built and places where you can obtain land.
One of these developing countries with an unstable economy is Argentina. Although common sense makes you think that this makes it impossible to have your own house here, the opposite actually happens, especially if you have a salary in dollars. For foreigners, even building a luxurious house in the most VIP sector of Argentina is possible at a low cost. If you are interested in building a house in this country, continue reading this article because here we will tell you what types of houses you can build, how much they cost, and we will give you an insight into the world of real estate in Argentina.
Types of dwellings found in Argentina and their building costs
In Argentina, there are different types of constructions in terms of the size of the homes, but the materials used are usually the same in almost all cases. Homes made with wood or the now popular container homes are not common in Argentina, where the houses are mostly made with cement and bricks. Of course, this can vary if it’s a low or middle-class home or a luxury home, but we’ll get to that later.
The types of constructions that are common in Argentina are duplex type constructions, that is, they are homes that have a narrow shape since they share the land with other homes attached to the side. These duplexes can have up to 3 rooms and usually have 2 floors. Its price can be up to 72,358 Argentine pesos per square meter (650 US dollars).
A house that is only on the ground floor is also very common, especially if you have all the land for your house and you should not share it with another. In that case, the houses can have up to 4 rooms, although this number will increase if it is upper class. The price per square meter in this case is 74,500 Argentine pesos (660 US dollars).
Cost of building a low-class, middle class and luxury house.
The houses of the Argentine lower class are very precarious, built on land far from the country’s capital, and usually have less than two rooms. They are generally made on land shared with other homes and can cost up to $20,000 to build, although the value may be less if it is a prefabricated home.
A middle-class house is usually made with top quality materials, especially when compared to those used in similar homes in other Latin American countries. The size can be smaller, since they usually have a maximum of 3 rooms in a middle-class home, and it probably only has a bathroom. The price of building this type of house can be up to 70,000 US dollars, although it will increase if it is a two-story house or with more bathrooms and rooms (reaching up to 100,000 US dollars).
The prices of construction materials and the final square meter price when it comes to a house in a country club (most expensive neighborhood) or a house with more luxuries has another cost. The square meter is valued at $249,115 Argentine pesos (2,230.03 US dollars). This is an average value, although it may vary depending on where the land is located and the type of materials used. The most expensive it can cost, in the most luxurious area of ​​the country, is a total of US$370,000, without taking into account the price of the land (since it is separate).
Major residential housing projects in Argentina
Spazios, a construction company and developer from the province of Buenos Aires, announced the investment of more than $3,500 million for the construction of five new real estate projects financed for 30 years and in pesos. The launch will inject into the real estate market between 90 and 150 apartments per building and they will be units with 1, 2, 3 and 4 rooms. All developments will be full amenities with SUM, swimming pools, gym, playground, grills and other differentials and will target the middle-class segment of the population in 3 de Febrero, Ramos Mejía and Ituzaingó.
HUB located en Cabildo, Nuñez is a project of a large building on a plot of more than 1000 m2, HUB will have professional studios and residential units of 2, 3 and 4 rooms from 54 meters to 192 meters, with terraced balconies and the best green views to the square and the boulevard. HUB will offer 3 underground garages and full amenities on the 15th floor: an important SUM, grills, a gym and a large swimming pool with a solarium and landscaped terrace. It will be a bike-friendly building, with 24-hour security and laundry.
Real estate/residential market analysis in Argentina .
To be fair, 2021 was quite a difficult year for the real estate market in Argentina. The entire context – the macroeconomic, the political and, of course, the pandemic that has not yet ended – has been changing throughout this year.
The real estate market under construction or well did not stop during 2021, it was only slowed down. Operations continued to be closed constantly, especially units with 1 and 2 rooms, and some with 3 or 4 rooms. In 2021, with the decrease in the cost of construction, buyers of properties benefited by replicating this circumstance in the final price of their units.
Projects with a good location, function and with amenities, have not stopped commercially during the pandemic since they maintained a constant demand. It is believed that the growth will continue to be positive and that a rebound can potentially be expected in the coming years. Clearly, from the macro point of view, it is necessary to resolve issues related to inflation and other macroeconomic issues related to stability, but economists agree that projections are slowly improving. Read More...
