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I have been considering moving out to Puerto Madero for the past few weeks, I have had my fill of Las Canitas for the moment. Does anyone have any thoughts or suggestions regarding living out there? I am thinking that one of the big pluses would be all the good restaurants just around the corner. But I have never actually spent a whole day out there. Does anyone have any firsthand experience living out there?
Thanks in advance,
Bad
There is a shortage of things like supermarkets, dry cleaners, and all the little shops that you take for granted in a neighborhood like Las Canitas. It is much quieter, to be sure, which I judge a big advantage, since BsAs is so damn noisy. It lacks a lot of people, the average income is much higher than average, the area is heavily policed, and therefore safer.
Personally I looked into the possibility of buying a condo here two years ago, but was repelled by the prices, which were as high or higher than comparable properties in most cities in the US. There are a lot of absentee owners, as you will notice if you look at how many of the units in the high-rises are dark in the evenings.
Another little pain might be taxis. I think you might have to call for a taxi each time you wanted to get out of there or walk over to restaurant row to get one. BA is noisy, but the neighborhoods like Barrio Norte also have the services and restaurants and taxis right at hand. Plus you are pegged as a tourist right away in that neighborhood.
Few infraestructura, cheap concrete-Durlock-towers with "smartmarble" apearance and FAR AWAY from real value and willing chicas.
Montserrat is THE FUTURE development as it had always higher values than "trendy" San Thelmo in the Argentinean market.
Plaza San Martin still with some (not many) offers below usd 1.500/ sqm.
Puerto Madero is a unworthy real-estate bubble.
There are much better people than me to talk about the numbers regarding this question.
From a living standpoint I would advise against. Better restaurants in Palermo, better culture elsewhere. Get an interior apartment, less light, no balcony but quiet. My apartment is like living in the country until you step outside.
Go down their some night and see how many taxi's you see.
Exon
I could see it for suiting up, hanging out in the lobby and bar (s) at the Faena Hotel, nursing a negroni and looking for some hotshot non pro action. Otherwise, a big fat no.
I had parked first time at the Hilton (2004) and was immediately taken by the spot. The restaurants were nice, the club Asia de Cuba I thought would be a neighborhood hang, and if I wanted a quick stroll to Florida calle, the Pacifico mall, or the privados on Suipacha, it was a short stroll. While indeed it is remote, the tranquility of the river, the boats, and the private policia, Ithought would make it a nice alternative, to spend my later years much better choice than Miami.
Upon my subsequent trips I (3 in 5 months) I would walk around and found a building which had a two bedroom duplex penthouse for around $95,000 or so. Both bedrooms faced the water, but the only draw for me was that the living room faced the coutyard. In retrospect I am sure it is worth well more than that today, and over time I have been a fan of Palermo with the parks of Rosedal, the proximatey to Palermo Chico, etc.
Why Puerto Madero is still a nice option is it is in the city, but yet you can deep breathe a little. I am a water person, enjoy oceans, lakes and if I could look out at the river from my aprtment, I would. I have spent many a romantic moment by the river, and while the families, and some tourists might wear on me, I think it it is as tranquil of a neighborhood that there is there.
I lived in Manhattan for some time, many of the other neighborhoods (Recolota, Barrio Norte, Belgrano) have an urban feeling. Puerto Madera might feel like St. Petersburg to some? Just some thoughts. You could do worse.
Puerto Madero is the safest neighborhood in Buenos Aires, there is no Federal Police but Prefectura (Coast Guard) as custodians. They are by everywhere and for delinquents it's almost impossible succeed in violent acts inside the district because all entrances are controlled. That is a good point about Puerto Madero, but not the only one. If you look inside, you'll see no dirty streets as in downtown, Barrio Norte, Recoleta. It's not only about restaurants, it's about life quality, it looks more clean and developed than other neighborhoods. Yes, it's not enterely developed, since after the crisis many buildings were litteraly abandoned by the developers, it looks artificial? Ok, yes a little, it's a non porteno neighborhood? Sure, yes, I don't like about Puerto Madero (the opposite to San Telmo) all the stores there are franchisings (Farmacity, Freddo, etc) while in San Telmo they are not. And as the rentals are higher and people supposely wealthy, prices are almost double at the stores. There are less taxis, true, but consider the 340 acres are full of projects and almost empty of people. There is a new project: Puerto Madero II, at the north of Puerto Madero, and also another project to remove the "villa 31" and develop something similar. Another remark: ALL prices for rentals in Puerto Madero are in US Dollars including the shops, offices, etc, for both short term and long term, for both aregentines and foreigers, it's quite possible that this practice gets expanded to the rest of the city where currently only the short term furnished apartments are quoted in USD, as well as the tourist hotels and hostels. This is not a fact but a conclusion, since when the devaluation happened, the prices for real estate in the rest of the city were quoted in pesos, but for Puerto Madero was in US dollars, quickly (in less than 8 months) everyone inside of the Capital Federal was quoting in US dollars while in the provincia (outside of the city) remained in pesos for a couple of years, as currently the closer neighborhoods to the city are quoting in US dollars and some of the far-away towns still quoting in pesos for the real estate transactions.
Is it Puerto Madero a bubble? All right, it could be but all the Argentina should be a bubble as well. They said Puerto Madero was a bubble in 1989, and today prices for real estate are 4 times higher than in San Telmo (walking distance). They said Palermo was a bubble in 1999 and all I see in Palermo is brand new apartment buildings in every block, the thing is, as in every city, that city attracts people, and the value of the land rises.
[QUOTE=Badboy13]I have been considering moving out to Puerto Madero for the past few weeks, I have had my fill of Las Canitas for the moment. Does anyone have any thoughts or suggestions regarding living out there? I am thinking that one of the big pluses would be all the good restaurants just around the corner. But I have never actually spent a whole day out there. Does anyone have any firsthand experience living out there?
Thanks in advance,
Bad[/QUOTE]It's nice, safe, quiet and there are only new buildings. I have lived there for about 6 months and I never have a problem getting a cab and everything I need is close by.
I would suggest you rent an appartment not at the end of Puerto Madero but somewhere at the beginning or near the Hilton because you are less likely to take a cab.
If you live near the casino and don't want to take the bus you easily spend around 200-250 dollar a month on the cab
You humiliate the porteņo culture by hiding in a such artificial barrio. Open up and get to know the poeple and the city, even if it involves some risks, is has so much else to offer. Oh, I forgot, you are americans.
[QUOTE=Bairespirata]You humiliate the porteņo culture by hiding in a such artificial barrio. Open up and get to know the poeple and the city, even if it involves some risks, is has so much else to offer. Oh, I forgot, you are americans.[/QUOTE]I don't need to see Cartoneros, villera's, uneducated police officers, hookers, sucky departments, piqueteros to enjoy Argentina