From all the signs hanging on the outside of buildings, this must be the time to sell in San Telmo. (I count 9 for sale signs in this photo). I just wish that someone would go ahead and buy all those buildings so that they can take down those for sale signs and return the streets to normal. All the signs are messing up everyone’s photos of these lovely streets.
Actually, there’s a building down the street from me on Av Caseros that was sold over six months ago and the “for sale/sold” signs are STILL hanging all over that building. Enough!
Walking somewhere along Chile I came across this new stencil, imploring that San Telmo not become Palermo.
But I think that it’s a lost cause. At least San Telmo has more interesting architecture than Palermo.
April 10th, 2007 at 7:30 pm
It’s a completely lost cause. Gentrification can suck. And people moan about it. But a lot of the same people end up benefiting from it.
April 12th, 2007 at 7:59 pm
I’d agree somewhat with Dan. The people that moan about gentrification are usually the people who don’t have to live or survive in the mess that’s there in the first place or are so boho (or better the french term bobo: bourgeois-boheme) that they don’t realise they’re the cause of the gentrification. ‘Oh, what a shame this area was ever done up-the open sewer, crime and the rubbish everywhere added *such* charm to the place. When i first moved here it was a complete dump.’
If the locals in San Telmo get their timing right, they’ll make a fortune and might even be able to move to a barrio they, as native portenos, consider ‘better’…
Over here in Chile, Valparaiso has a certain ‘charm’ to its crumbly, seedy side but i bet the locals would happily trade that charm for a city that worked like a swiss clock…
April 16th, 2007 at 10:22 pm
[…] But, the symptoms are the same, for sale signs are sprouting up like weeds. Another BA blogger recently remarked on the proliferation of such signs in San Telmo… […]
April 18th, 2007 at 4:08 am
Yes. we sold two (and bought 4 more) and in each case the signs stayed up for months and months. The agents keep things on their books. I think it is more a case of stock drying up in San Telmo as locals have caught up with the fact that it now has the lowest index of crime in the whole city (one positive effect of all the gentrification) and it is incredibly near the business centre, Puerto Madero etc….
I don’t think San Telmo will ever be like Palermo but it is rapidly turning into London’s Covent Garden or, if we are lucky, Greenwich Village….
I’d still buy in San Telmo rather than Palermo because of the location, the architecture and the light.
January 17th, 2010 at 10:19 am
does anyone know if the prices are climbing fast or how much they have risen in recent years?
January 18th, 2010 at 6:26 am
@Jude: according to the property value survey that comes out in Saturday’s La Nacion (Jan 16, 2010) the estimates for prices per sq *meter* in San Telmo (in $US):
Apartments
– new: $1,500 – $1,700 (I think this category also included remodeled apts in older buildings?)
– used: $1,000 – $1,300
January 24th, 2010 at 1:14 pm
yes thanks but are the prices rising or are they stable and if so since when?
thanks a lot again
i am considering buying but my brother who knows much more than me says that it is risky for a foreigner because we can be easily taken advantage of.i sure would like to buy but if i can take my time and educate myself it would be best.
January 24th, 2010 at 2:38 pm
The prices in San Telmo (and other popular barrios where foreigners are likely to buy, e.g., Palermo, Recoleta) are overinflated now for a few years. It seems that many of the places are priced specifically for foreigners. But I do know some places in San Telmo have been on the market for more than a year. Those prices are stable as the properties are not selling. And oddly the prices are not dropping. Sometimes I get the feeling that some property owners just put their place up for sale with the hope that a foreigner will come along and overpay. But if you find a motivated seller, then perhaps you could make a significantly low offer and it might be accepted.
January 25th, 2010 at 1:04 am
thanks jeff! apparently another cause for concern is the lack of laws to protect you.
January 25th, 2010 at 1:59 am
do you know what sort of things you need to consider when purchasing property in buenos aires? possible dangers or problems?
January 25th, 2010 at 4:39 am
Jude,
A lot of foreigners buy property in Buenos Aires without any problems, even on tourist visas or as temporary residents. Usually you go thru a real estate agency, which will guide you thru the process. But all the legal parts of the sale must be certified via an escribano, which is a type of attorney that specializes in property transactions.
As for “laws to protect you”: due to historic immigration patterns, foreigners have the same property rights as Argentine citizens. For example, know that there are a LOT of people who have lived decades in Argentina but never became citizens after immigrating here; they’re permanent residents of Argentina (but citizens of Italy, Spain, etc.) These ‘foreigners’ all own property and have done so for decades with no problems. And there will be no problem for them in the future since permanent residents have the right to vote in local elections. Indeed, there’s a proposal floating around from the current govt to give permanent residents the right to vote in national elections. Permanent residents are a huge voting block, so I don’t see them losing any property rights. (As for temporary residents & tourists, you would still have the same property rights though I guess that aspect could always change for this category of foreigners. But, again, many people have bought property on tourist visas.)
The key is working with a good escribano. The escribano will make sure that the property legally belongs to the person who is selling it, that there are no liens against the property, etc. But you won’t deal with the escribano until after you selected the property. The real estate agencies handling the property should be able to recommend an escribano. I suspect there are plenty of English-speaking escribanos that can advise you on all the legalities of buying property as a foreigner here.
Otherwise, the dangers are like buying property anywhere….buyer beware, particularly with regards to the condition of the property, e.g., plumbing, electricity, water leaks, etc. Of course, renovation in Argentina is very cheap. So you could get a good value on an apt in rather bad shape and put in a relatively small amount of money and fix it up really well. The other thing is not being surprised at the general noise level of many apts in BA: the units on the front of the bldgs are incredibly loud due to street noise. The units in the middle are quieter but often don’t have much natural sunlight due to few windows. The units in the back are often preferable.
If you have the money to buy an apt, then I would say go for it. Good luck!
January 25th, 2010 at 10:25 pm
thanks!
July 30th, 2010 at 4:11 pm
OWNER sells unique, small & totally recycled apartment in historical house in San Telmo District. Within walking distance of Subways, Plaza de Mayo & Puerto Madero-Low manteinance fees. Contact:depto.santelmo@yahoo.com.ar
July 30th, 2010 at 4:35 pm
@Martin: Nice looking small apartment. A couple of things not mentioned on your site: how many sq meters? Price?
Good luck with the sale!
April 29th, 2012 at 2:38 pm
I owned an apartment in downtown BA in a lovely turn of the century building. I used Reynolds Properties, and had a very good experience. They handled everything and recommended a good escribano. I paid more for the unit that I should have but I got in late and should have been more diligent in terms of “homework.” Overall, I made out fine and came out slightly ahead. I think one would be best off working closely, if possible, with an Argentine who might have more access to properties not listed with companies such as Reynolds. Deals abound, but so too do over-priced units marketed to foreigners. One might be better off paying a local professional with intimate knowledge of the real estate market to act as a consultant. Most importantly, do your homework and make sure your price is in accorrd with units recently sold, preferably in the same building.