Buenos Aires, Argentina
 

Buenos Aires and its Commercial Real Estate Market are unique in many respects. Did You Know...

•   Buenos Aires is Argentina's capital and one of the largest cities in Latin America. The metropolitan area is the nation's financial, industrial, commercial, and cultural center. Its strategic location, on the southern shore of the Rio de la Plata, has made the city a distribution hub and trade outlet for a vast South American area.

•   Metropolitan Buenos Aires generates around 35% of the country's GDP and half of its industrial GDP. Meat, cereals, oil grains, dairy, tobacco, and wool are some of the products processed or manufactured in Buenos Aires. Key industries in the area include automobile manufacturing, metalworking, machine building, textiles, and chemicals. Due to the high-productivity of its land, the city contributes 37% to the national farming output, despite only occupying 11% of the country's geographic area. 

•   Buenos Aires has the greatest tourist appeal in the country, with Mar del Plata city as one of the main tourist destinations, attracting over 3 million tourists every year.

•   The majority of the people in the city use public transportation. The Buenos Aires Metro, the oldest subway system in South America, is one of the most popular modes of transportation. The Ministro Pistarini International Airport, also known as Ezeiza Airport, serves the city and is the country's largest and busiest airport.

•   Local and international confidence and the surge in exports have contributed to the economic growth in recent years. The growing economy (expected to grow 7.5% this year and 5% next year) is positively affecting the commercial real estate market, which is experiencing high demand, low supply, and an increase in prices.

•   Supply levels in the office market decreased 25% in the first months of the year due to the high demand and the lack of prime space. About 90% of class A space is in Catalinas, Puerto Madero, Macro/Microcentro, and Plaza Roma. Catalinas and Plaza Roma are the two most demanded and expensive areas. In the next eighteen months demand for quality space will continue to be strong, the available space will remain low, and the rental price will continue to increase. In the same period, 376,000 square feet of available space are expected to be added to the office market. 

•   The retail market in Buenos Aires is experiencing the same trend as the office market; high demand, low supply, low vacancy levels, and an increase in rental rates. The industrial market is characterized by the lack of good supply. Total warehouse stock of in the metropolitan area is 19.3 million square feet, of which 3.9 million square feet are of prime quality.