Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Category A Market Trends 2013
2012
ZN
CABA
ZN
CABA
ZN
CABA
2014
Vacancia Demanda Valores En los cuadros anteriores la comparación es entre el mes actual y diciembre del año anterior.
VACANCIA SUBMERCADO
Dardo Rocha
2.520 30%
Panamericana
9%
96.126 11% Libertador
49.799 0%
4.264 100%
Belgrano - Nuñez
26
30.700 37%
10% Puerto Madero
6%
24,5
Palermo
24
Plaza Roma
Microcentro
49.000 0%
69.662 34%
28
Plaza San Martin
28,4
9 de Julio
Catalinas
12%
112.486
136.612
222.025
295.940
Submarkets
30
28
25
28
23
20
STOCK (m2)
Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
VALOR PROMEDIO ALQUILER (U$S/m2)
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Stock and Vacancy Stock propios) Stock- Vacancia - VacancyA+ A+(m² (own sqm)
Stock
Stock
748.463 m2
320.671 m2
Vacantes
Vacantes
90.248 m2
31.101m2
Composition of Vacancy Vacancy A+ Distribution
PLAZA ROMA 9,5%
PANAMERICANA 62,1%
MICROCENTRO 0,0%
PLAZA SAN MARTIN 12,7% PUERTO MADERO 31,8%
CATALINAS 14,8%
LIBERTADOR 35,4% DARDO ROCHA 2,4%
Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
EJE 9 DE JULIO 26,5%
PALERMO 4,7%
BELGRANO/ NUÑEZ/ SAAVEDRA 0,0%
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Vacancy Evolution |Anual 45%
32% 19,53%
40% 35% 30% 25%
9,70% 10,02%
8,37%
20%
8,13%
15%
6,58%
18,21%
10% 5%
12,06% 9,50%
8,71%
7,95%
8,55%
2012
2013
9,66%
0%
2009
2010
2011
Capital
2014
Mayo 2015
Zona norte
Vacancy Evolution | Monthly
14%
12,97%
12,63%
12,50%
12,59%
13,04% 12,42%
12,06%
12,38%
12% 10,02% 10%
10,78%
10,55%
9,76%
9,96%
9,84%
9,76%
9,66%
9,35%
Sept 2014
Oct 2014
Nov 2014
Dic 2014
Feb 2015
8%
9,70%
9,43%
9,23%
Mar 2015
Abril 2015
6% 4% 2% 0% Jul 2014
Ago 2014
Zona norte Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
Mayo 2015
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Stock A+ y A+ Green
MICROCENTRO 7%
PLAZA ROMA 18%
CATALINAS 15%
PLAZA SAN MARTIN 4%
EJE 9 DE JULIO 9% PUERTO MADERO 40%
PALERMO 1%
BELGRANO/ NUÑEZ/SAAVEDRA 7%
DARDO ROCHA 0,79% LIBERTADOR 29,98%
PANAMERICANA 69,24%
Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Stock A + planning stage ( Buildings under construction*) Distribution of Stock in planning stage A + (Capital Federal)
Distribution of Stock in planning stage A + (Zona Norte)
Retiro 40.000 BelgranoNuñezSaavedra 66.600
Pto Madero 13.040 Palermo 4.000
Catalinas 35.500
Sup. Total: 15.140m²
Sup. Total: 11.300 m²
Stock A + planning stage (Buildings in the planning stage) Distribution of Stock in planning stage A + (Capital Federal)
Distribution of Stock in planning stage A + (Zona Norte)
Sup. Total: 119.140 m²
Sup. total: 75,669 m²
Graphic Analysis In the first two graphics, we analyze the composition of the stock in planning stage, which is under construction at the moment. In the second two graphics, we see those buildings which already have a plan. Although in some cases they do have a starting date of construction, this is dated after the closing of this edition.
Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Absorption A+ Buenos Aires City
Absorption A+ 2014
Graphic Analysis During 2014, we observed a negative net absorption, both for Capital Federal and Zona Norte. This means that the new available meters incorporated during the analyzed period is bigger than the absorbed by the market. Note: new available meters in Capital Federal: Belgrano Office with 30.000 m². New available meters in Zona Norte: Nodus with 13.976 m², Solís 1330 with 5.230 m², Bureau Park with 10.500 m²
Office Real Estate Division : 4114-1000 | Zona Norte: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Profitability A+
11
6,48
6,74
2002
2003
2004
2005
2006
Venta
4.000
3.800
28
26
26
30
31
31
12,69
12,39
9,73
2007
2008
Alquiler
2009
9,79
2010
8,27
8,00
2011
2012
4,59
5,27
5,99
2013
2014
Mayo 2015
3500
2001
6,30
11,57
3500
2000
10,24
3500
10,53
0,00
4.200
4.500 13,07
5,00
30
2.800 27 2.110 18 12
8
10
15,00 10,00
2.060
1.800
20,00
1.600
20
25,00
2.280
2.570 28
35,00
3.100 32
40,00
3.700
3.500 37
45,00
3.800
50,00
30,00
4.500
Profitability Evolution A+ Capital Federal (before taxes)
Rentabilidad
0,00 2001
13,56
14,41 2002
2003
2004
2005
Venta
2006
2007
2008
Alquiler
24
10,22
24
2700
10,22
15,05 11,48
11,55 10,71
23
13,8
2300 22
1739 20
14,57
1754 22
1565 19 12,66
23
5,00 2000
727 7
14,4
1043 11
15,45
333 4
10,00
560
15,00
5
20,00
1250 15
25,00
1709 22
30,00
2212 25
35,00
2700
40,00
24,5
Profitability Evolution A+ Northern Area (before taxes)
2009
2010
2011
2012
5,09
5,28
5,75
2013
2014
Mayo 2015
Rentabilidad
Analysis of graphics In both graphs we observe a sharp drop in profitability in 2013 compared with previous years. This is because there is a gap between the official dollar rate (rental amounts are expressed in this currency) and the dollar notes, in which properties are appraised for sale
Office Real Estate Division : 4114-1000 | Zona Norte: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
11
Maintenance average value in A+ buildings of Capital Federal and Zona Norte (per m²)
53,3
49
6,05
5,55
Muestra Capital Federal: Juana Manso 909/1069, Bouchard 547, L.N.Alem 518,Cecilia Grierson 355, L.N. Alem 855, Ing. Butty 240, San Martin 344, Maipu 1255, Arias 3751.
Muestra Zona Norte: Av. Del Libertador 77, EcheverrĂa 4150, Cazadores de Coquimbo 2865, Av. Del Libertador 174, Edison 2659, Italia 415.
Nota: * Valores Julio 2014
Maintenance value evolution (averages in U$S)
Office Real Estate Division : 4114-1000 | Zona Norte: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Lease value at foreign countries, per city (U$S/m²)
Costo instalación oficinas Argentina
Fuente: Índice CONTRACT workplaces Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Our team
Mariana Stange | Directora
Pablo Papad贸pulos| Broker Senior
Eduardo Gibelli|Broker - S. Lomas
M.Silvina Lascano|Broker Of. Central
Gabriela Avalle|Broker S. Lomas
Guillermo Gallino|Broker Of. Central
Eleonora Lefevre|Broker Senior
Francisco Spini|Broker Of.Central
Felipe Ramos|Broker Of. Central
Mariano Costa | Broker Of Central
Joaqu铆n Vidiri|Broker Of. Central
Gisela Arditi l Asistente
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Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - June 2015
Directorio Luis José Ramos, Chairman Diego J. Cazes, General Director Office Real Estate Division Mariana Stange Industries Division Ricardo Costa Chiappe Pablo Vivot Business Premises Division Miguel Grehan Juan José Ramos Residential Division Sucursal Recoleta, Dina Crusizio Sucursal Lomas de San Isidro, Harry Marples Sucursal Nordelta , Soledad Ramos
Fields Division Juan José Madero (Jr.) Hoteles Division Noel Verger Appraisals Division Eduardo Pereira Marketing Pablo Benegas Systems Facundo Hidalgo
Office Real 4114-1000 | Northern Real Estate Division | Downtown: Capital Federal: 4114-1000 | ZonaArea: Norte:4719-9000 4719-9000
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