Tag Archives: real estate

Growth in the Buenos Aires-Argentina hotel industry

The hotel sector in the Buenos Aires real estate market is attracting property developers. Tourism is on the up and there is a diverse variety of options opening up to investors.

Hotel industry information:

•    Hotels are the real estate sector that provides profit in the long term.
•    Boutique hotels are a new phenomena that is one of the popular options for investors.
•    The location of boutique hotel is crucial in its success. There is already an oversupply in areas like San Telmo and Palermo, with hotels finding it hard to compete.
•    The amount of money required to open a Buenos Aires boutique hotel is estimated at costing between $ 2 million and $ 5 million US dollars.  The expenditure per room costs between $ 150,000 and $ 250,000, including land and fittings.
•    On top of the costs of constructing and fitting a hotel investors also have to consider the costs of launching the hotel on the market. It takes a lot of time, hard work and money to earn a reputation as a reputable hotel.
•    Enterprises in the Buenos Aires hotel market have the best chance of increasing in value.
•    Mid-range hotels make up the part of the market that is growing the most, thanks to corporate tourism and business trips. This sector needs to be standardized so that clients know what services to expect in this type of hotels. Until what is expected in mid-range hotels has been established, larger, hotel chains will perform better as people can trust in what they will receive during their stay.
•    Hotels with limited or selective services are the new tendency for hotel developers, successfully combining quality, basic services and fair prices. Rooms in this type of hotel are smaller but well designed and are awarded three or four stars.
•    Mid-range Buenos Aires hotels withstand the economic crisis and have an income of around 12% annually.
•    The amount of money invested per room should not exceed $ 70,000 US dollars in 3 and 4 star establishments. Luxury hotels are much more risky investments as they require an investment per room of between $ 300,000 and $ 500,000 US dollars.
•    ‘Fractional’ hotel developments allow investors to diversify and lower the risks in investing. Fractional enterprises are typically hotels with timeshare homes, with one room ‘owned’ by 4 to 12 different proprietors. This is a smart investment in places where there is high seasonality.

The Buenos Aires hotel market is expanding, with boutique hotels and fractional, mixed hotels creating exciting and diverse options for investors.

The proven Buenos Aires – Argentina lawyer professionals at the Kier Joffe law firm have experience working with foreign clients involved in all kind of cases in Argentina. Buenos Aires Argentina attorney professionals are knowledgeable in almost all the practice areas of law, to service its international cases in Buenos Aires Argentina. International clients will have the confidence of knowing that the case is being handled by an experienced and knowledgeable Buenos Aires  lawyer in Argentina.

www.kierjoffe.com

Buenos Aires Real Estate Lawyers

Buenos Aires Real Estate Lawyers

The Buenos Aires real estate lawyers of Kier Joffe advise national and international industrial, commercial and services companies in drafting, negotiating and implementing real estates. Kier Joffe extensive experience in complex agreements enables the firm to develop pragmatic, cost-conscious solutions, tailored to meet the individual needs of each client. Consult with a Buenos Aires real estates lawyer at Kier Joffe and receive trusted and experienced counsel at very reasonable legal fees.

At Kier Joffe, the firm’s real estates lawyers focus on the following areas of real estate law:

-Real estate planning
-Commercial development
-Realty operations
-Legal counsel to commercial real estate owners
-Legal counsel to real estate developers
-Legal counsel to building companies
-Completion and sale to third parties
-Design and posting guaranties
-Commercial real estate provisions of adequate funding

Professional Advice From A Real Estates Law Firm In Buenos Aires Argentina –

Speak With A Knowledgeable Buenos Aires Real Estate Lawyer – Call +54 115 218 3100.

Consult With A Buenos Aires Real Estate Lawyer Of Kier Joffe

Kier Joffe is composed of professionals continuously trained through programs of technical and business management at a national and international level. The firm’s real estate lawyers, practice law as a profession and are aimed at satisfying our customers with an intense dedication. By understanding the needs and requirements of our clients we can provide the proper assistance for the task at hand.

Skilled Real Estates Lawyers in Buenos Aires, Argentina

The Buenos Aires real estates lawyers of Kier Joffe are highly oriented to the practices of business and real estates law. The attorneys of the firm support their clients in all commercial and real estate challenges, and assist them in strategic change processes and business succession. Kier Joffe focus their work on an extensive set of core competencies, with specialties in legal consultation, litigation and arbitration.

A Buenos Aires Real Estate Lawyer With International Experience

At Kier Joffe, the firm’s Buenos Aires real estate lawyers have a distinct international perspective, with appropriate cross-cultural experience. The firm has proven expertise in arbitration at the national and international level. In addition, Kier Joffe staffs real estate attorneys who are involved in several international legal committees and major arbitration institutions. Trust a Buenos Aires real estate lawyer at Kier Joffe to handle local and cross-border issues competently, reliably and quickly.

Client Committed Buenos Aires Real Estate Lawyers

Clients of Kier Joffe seek quick, practical and expert legal advice about their problems. For exceptional, strategic challenges and processes of change, they want sound legal guidance and professional support.

The Buenos Aires real estates lawyers at Kier Joffe set themselves high standards with a consistent customer orientation. The firm renders customized service to its clients, while emphasizing its core competencies to reflect a high degree of professionalism and experience. Each mandate is assigned to a partner at Kier Joffe who acts as personal contact of the client. By staffing only the most well-trained real estate lawyers in Buenos Aires, Kier Joffe are efficient and creative at resolving the legal issues of its clients.

A Highly Qualified Real Estates Law Firm In Buenos Aires, Argentina

Managing complex commercial legal challenges and litigation is a main expertise at Kier Joffe. Clients of the firm are entitled to tailor-made and practical advice. The firm’s Buenos Aires real estate lawyers concentrate on their core competencies, allowing them to provide effective and value-added solutions. All professionals at Kier Joffe are highly qualified in their areas of practice.

Professional Advice From A Real Estates Law Firm In Buenos Aires Argentina –

Speak With A Knowledgeable Buenos Aires Real Estate Lawyer – Call +54 115 218 3100.

Loyal Real Estate Lawyers in Buenos Aires, Argentina

The clients of Kier Joffe are decision makers in the economy. Many of them manage their own company or bear responsibility in international, strategic or conceptual environment. They seek fast, practice oriented and competent legal advice to their daily problems.

In times of change and extraordinary, strategic challenges, the Buenos Aires real estate lawyers of Kier Joffe offer professional assistance and create sound legal solutions. The MME Partnership is responsible for the quality of the client relationships. The Buenos Aires lawyers of the firm are delighted to assist and work with businesses and professionals of Argentina.

The proven Buenos Aires – Argentina lawyer professionals at the Kier Joffe law firm have experience working with foreign clients involved in all kind of cases in Argentina. Buenos Aires Argentina attorney professionals are knowledgeable in almost all the practice areas of law, to service its international cases in Buenos Aires Argentina. International clients will have the confidence of knowing that the case is being handled by an experienced and knowledgeable Buenos Aires  lawyer in Argentina.

www.kierjoffe.com

Argentina Abogados Herencia y Testamento Buenos Aires Abogados

Best Buenos Aires Real Estate Lawyers – Top Buenos Aires Real Estate Attorneys – Prove Buenos Aires Real Estate Lawyers – Buenos Aires Real Estate Attorneys

Buyers are Lured by the Advantages of a House in Buenos Aires, Argentina

Though higher prices and the lack of affordable credit make buying a house in Buenos Aires more difficult than purchasing a compact apartment, many buyers are willing to pay the difference in order to enjoy the advantages a house can offer.  A house can provide recreational spaces such as a garden and/or patio, swimming pool, and barbecue pit.  The owner is free to remodel the house without having to get prior approval from a homeowners association and avoids having to pay homeowners association fees for the maintenance of community property areas.

The current economic instability brought on by the global financial crisis is causing many people who have capital on hand to insure their money by investing in the purchase of a house.  They feel that in the short and medium run money will be worth less and tangible goods and property will increase in value.  Though house prices in Buenos Aires experienced an increase in values two to three years ago, prices have stabilized over the past year and a half.

When looking at housing prices, the value of each home is unique. The most important factors in determining the value of a house are the size and location of its lot and the quality of construction.  The same house on the opposite side of the street can be priced differently due to its immediate surroundings and the direction in which it faces the sun.  Housing prices also vary according to the neighborhood, its comfort features, the amount of free spaces it has and whether it has a pool, barbecue area, and a one or two car garage.

In the highly exclusive area of Barrio Parque (Palermo Chico), prices can vary in a wide range from USD 2,500 to USD 4,500 per square meter.  In Barrancas de Belgrano and the southern residential area of Caballito, prices range from USD 1,800 to USD 2,500 per square meter.  In most other areas, prices vary between USD 900 to USD 1,700 per square meter.

The houses in greatest demand are those found in the more residential sectors within each neighborhood, nestled between other good quality homes. Proximity to transportation and schools and being close, but not too close, to a freeway are the other factors people favor.

The most requested neighborhoods are Belgrano R, Nuñez, Palermo and Colegiales.  A modern house in the northern part of the city of Buenos Aires, which includes Belgrano, Nuñez, Palermo, Colegiales and Villa Urquiza, with a good-sized lot and a house measuring 200 m2 is averaging between USD 280,000 to USD 320,000.  In Nuñez a 190m2, two story, four bedroom house on a lot measuring 8,66 meters wide by 24 meters long with a garage, pool, club house and barbecue area is priced at USD 300,000.

The housing market in premium neighborhoods is quite special.  The pocket between Avenida Figueroa Alcorta, Juez Tedin and San Martín de Tours is the highest priced area of Buenos Aires.  There are no more than two hundred houses nestled in a park like setting.  The sale of these homes is more complex than an apartment; each house has its own style and there can be variations in how well the home has been maintained.

An essential requirement in homes of this level is a spacious garden.  A garage is ideal; however, in the more exclusive areas residents have ample street parking available.

In Barrio Parque and Gran Bourg the price of a lot is averaging USD 3,500 per square meter.  The costs of construction vary according to the quality of materials used, surface size and layout; however, costs range between USD 1,000 per square meter on the low end and USD 2,000 per square meter for higher quality.

Those who sell their house in Barrio Parque are likely to move to a quality apartment in Recoleta.  The difference in price allows them to purchase a second apartment as rental property.  Those who buy a house in Barrio Parque obtain a luxury home with a spacious garden and pool in the highest valued area of Buenos Aires which will never lose its value.

In the Buenos Aires’ real estate market, houses are sold for three different purposes.  The first is for residential use where the buyer intends to live in the home or rent it out.  The second is for the land.  In this case, the buyer is usually a developer who demolishes the original house and builds an office or apartment building.  The third situation is where the house is refurbished and/or remodeled for commercial use.  The latter two purposes have accounted for the greatest number of sales and have experienced the greatest increase in value.  They also account for a reduction of the availability of residential houses on the market.

Buyers will continue to be drawn to the benefits of a house in which they can find more light, sun, space, and air, while they have the freedom to modify their property as they wish and avoid costly homeowners association fees.  The one negative point is security, being more vulnerable to theft.  That is why most buyers prefer a house on a well-lit street close to transportation and schools.

The proven Buenos Aires – Argentina lawyer professionals at the Kier Joffe law firm have experience working with foreign clients involved in all kind of cases in Argentina. Buenos Aires Argentina attorney professionals are knowledgeable in almost all the practice areas of law, to service its international cases in Buenos Aires Argentina. International clients will have the confidence of knowing that the case is being handled by an experienced and knowledgeable Buenos Aires  lawyer in Argentina.

www.kierjoffe.com

Can Argentina bounce back from the global economic crisis?

A season of lectures on the Real Estate market that was organized by the newspaper La Nación was hosted in the La Rural conference centre in November 2011. This series of lectures from experts in the Buenos Aires real estate sector discussed issues and all the latest developments in this important Argentine industry.  It was also the opportune moment to consider the impacts of the current global crisis on the Buenos Aires real estate market.

One of the main themes of the season of real estate lectures was whether the Argentine real estate market and economy was strong enough to weather the storm of the current global economic turmoil and if it could overcome all the obstacles that affecting investors, developers and buyers across the real estate.

One important point to underline in this discussion is that this isn’t the first time that Argentina has had to face economic hardships. Past experience shows that various sectors of the country’s economy have been strong: investment in property does not usually evaporate or volatilise in times of economic troubles. The strength of the real estate market was truly tested during the 2001/2002 crisis and yet it survived, which shows that Argentina has survived worse than the current economic instability.

Another issue that was addressed in the different conferences and lectures in November was the concern about the lack of policies or funding that support mortgage loans. It was clear that there seems to be no easy way to facilitate providing mortgages and loans to homeowners. Argentina’s economy and nature does not lend itself to mortgages and credit schemes: inflation and instability mean that mortgages will continue to be a foreign luxury that few Argentines will ever enjoy. In order to provide mortgage loans the economy would have to be more stable control inflation.

As 2011 comes to an end, the patterns of Buenos Aires real estate investment reveal the typical seasonal behaviour of investors and buyers: a fall in the number of real estate deals closed.  Another issue is also impacting the Buenos Aires real estate scene: the restrictions on purchasing US dollars, which is affecting all those who have to complete real estate transactions. The restrictions imposed by the government (as part of a scheme to stabilise the Argentine peso) is making real estate transactions difficult and in some cases deals are falling through as there aren’t enough dollars to complete transactions.

There are plenty of questions and doubts hanging over the Buenos Aires real estate market, which will only become clear as time passes. The results of the government’s recent economic measures will in time reveal the state of affairs and whether Argentina will bounce back from the global economic crisis. However, based on Argentina’s survival in past crises it should come out ok.

The proven Buenos Aires – Argentina lawyer professionals at the Kier Joffe law firm have experience working with foreign clients involved in all kind of cases in Argentina. Buenos Aires Argentina attorney professionals are knowledgeable in almost all the practice areas of law, to service its international cases in Buenos Aires Argentina. International clients will have the confidence of knowing that the case is being handled by an experienced and knowledgeable Buenos Aires  lawyer in Argentina.

www.kierjoffe.com

Buenos Aires, Argentina utility bills – Real Estate

Buenos Aires is a high rise city. You can’t walk one block in the Argentine capital without encountering an apartment block and fewer and fewer people live in houses. Each apartment block has its own complex system of communal maintenance, bills and employers. The cost of maintaining an apartment block is increasing and residents are finding that their Buenos Aires utility bills are costing nearly as much as their rent.

Apartment blocks in Buenos Aires are divided into different categories depending on how many facilities they have. The first category has three or more services such as, central heating, swimming pool, gym etc. Second level buildings have 2 different types of services; third only one and residents in fourth have no services or amenities. However, all buildings in Buenos Aires have their costs that all residents have to pay for. Expenses include electricity bills for lifts and lights, fire extinguishers, water tank cleaning, fumigation. In the last two months, all of these costs have experienced a sharp 12% increase.

On top of these experiences there are also the building’s staff salaries. The wages of porters and doormen has increased by 21.5% and so has the salaries of cleaning staff, rubbish collectors and gardeners. So the more services a building has the higher the costs for residents. These extra hidden costs are crucial to consider when buying an apartment in Buenos Aires. You may think it’s just a case of signing and paying for the property. However, the costs do not end there. People buying a holiday home should be aware that their apartment will still be charged for maintenance expenses even when they’re not there.

For those who are renting not buying on the Buenos Aires real estate market the costs can sometimes rival the actual cost of renting. However, some properties are more affected by the rises in costs in the Buenos Aires utility bills so make sure you choose well and take this into consideration when renting.

Buyers looking to rent should be aware that the profitability of renting has dropped to 4.5% thanks to expenses, when it usually stands at around 6%. Big time Buenos Aires real estate tycoons will not be affected, but investors who rent out a handle of properties will feel the impact of having to reduce profits to cover expenses.

The hope is that these costs in the Buenos Aires utility bills will eventually lower and that inflation too will be controlled. Yet, realistically that is unlikely to happen and investors and tenants will have to take expenses and maintenance into account.

The proven Buenos Aires – Argentina lawyer professionals at the Kier Joffe law firm have experience working with foreign clients involved in all kind of cases in Argentina. Buenos Aires Argentina attorney professionals are knowledgeable in almost all the practice areas of law, to service its international cases in Buenos Aires Argentina. International clients will have the confidence of knowing that the case is being handled by an experienced and knowledgeable Buenos Aires  lawyer in Argentina.

www.kierjoffe.com