New Property Developments on The Argentine Atlantic Coast
A wave of property development is washing over the seaside resorts of the Argentine Atlantic coast.
Purchasers of properties in seaside resorts are always after one thing: a sea view. Mar del Plata is the biggest city along the Atlantic Coast of Buenos Aires Province and is dominated by exc.lusive high-end, high-rise structures that dominate the skyline, which shows just how valuable a sea view is here. For example, units in the exclusive Playa Grande development are worth $1300 to $3000 per square metre. The space for sea front development in Mar del Plata is completely saturated, so investors are turning to other coastal resorts in search of terrain to make their mark on the property market. Now popular coastal towns, like Cariló, Mar de las Pampas, and Pinamar are experiencing a surge in construction with a greater variety of properties available.
For instance, in Mar de las Pampas dozens of sites are constructing holiday cabins. However, the most significant development in this area is Linda Bay. This resort looks onto the sea and offers 1 and 2 bedroom apartments with facilities included, costing between $115,000 and $225,000 each.
At the other end of the spectrum, another variant of the traditional seaside resort is the gated community. In Pinamar, work is under way on La Herradura, a private gated neighbourhood. This is the crème de la crème of seaside developments boasting two polo pitches, four lakes and acres of green spaces for residents to enjoy. A 1400m2 plot here would cost you upwards of $50,000.
The high demand for terrain along the Atlantic coast of Argentina is not without its problems.
Unfortunately, the lack of available plots means that many investors are resorting to buying property and then simply demolishing the previous construction and starting a fresh. This means that some older, picturesque properties have been destroyed. Members of the local communities have complained and asked for local governments to preserve older buildings.
However, innovative projects are also creating fresh frontiers for development along the coast. A sewage treatment project is being carried out in El Norte. It is said that if the beach quality here is improved then El Norte will experience a huge boost in property development. Anyone thinking of buying property in this new wave of development may just find themselves a stone’s throw away from a fantastic investment.
More information on coastal property can be found at Buenos Aires real estate.
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