Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - October 2015
Category A Market Trends 2014
2013
ZN
CABA
ZN
CABA
ZN
CABA
2015
Vacancia Demanda Valores
Libertador (ZN)
Panamericana
Dardo Rocha
2.520 30,2%
BELGRANO - NUÑEZ - SAAVEDRA
8,6%
96.126
PALERMO
6,3%
PLAZA SAN MARTIN
58.439 1,2%
PUERTO MADERO
4.285 100,0%
PLAZA ROMA
30.700 37,5%
13,7%
136.612 8,2%
MICROCENTRO
49.000 1,6%
9 DE JULIO
69.662 21,9%
CATALINAS
15,6%
160.486
222.025
313.995
Submarkets
31,0
28
24
24,5
26
30
28
25
28
23
20
VACANCIA SUBMERCADO
STOCK (m2)
Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
VALOR PROMEDIO ALQUILER (U$S/m2) /ljramosonline
Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - October 2015
Stock and Vacancy Capital Federal Distribution of Vacancy A+
Stock - Vacancy A+
MICROCENTRO 0,7%
Stock
PLAZA ROMA 10,0% PLAZA SAN MARTIN; 10,3%
CATALINAS 22,3%
823.179 m2
EJE 9 DE JULIO; 13,6%
PUERTO MADERO 38,5%
PALERMO 3,8% BELGRANO/NUÑEZ/ SAAVEDRA 0,6%
Composition Stock A+ PLAZA SAN MARTIN 4%
PLAZA ROMA 18%
MICROCENTRO 6%
Vacantes 111.854 m2
PUERTO MADERO 39%
CATALINAS 15%
EJE 9 DE JULIO 9%
PALERMO; 1%
BELGRANONUÑEZSAAVEDRA 8%
Composition of Vacancy Zona Norte Composition of Vacancy Zona Norte
Distribution de Vacancy A+ DARDO ROCHA 2,9%
Stock
LIBERTADOR 23,5%
320.671 m2
PANAMERICANA
73,6%
Composition Stock A+ DARDO ROCHA 0,79%
LIBERTADOR; 29,98% PANAMERICANA 69,24%
Vacantes 25.929 m2
División Oficinas | Centro: 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 - October 2015
Vacancy Evolution |Anual
35%
32%
30% 25% 19,53% 20% 13,59%
18,21%
15%
9,50%
5%
8,71%
10,02%
8,55%
8,13%
10%
9,66%
8,37%
7,95%
8,09%
6,58%
0%
2009
2010
2011
2012
Capital
2013
2014
Septiembre 2015
Zona norte
Vacancy Evolution | Monthly
16% 14%
12,50%
12,59%
13,59%
13,04% 12,06%
11,85%
12,45%
12,01%
12% 10,02%
9,76%
10% 8%
9,96%
9,84%
9,76%
12,42% 9,43%
12,38% 9,23%
9,70% 7,97%
9,66%
8,17%
8,09%
8,09%
Jul 2015
Ago-15
Sep-15
9,35%
6% 4% 2%
Zona norte
Capital
0% Sept 2014 Oct 2014 Nov 2014 Dic 2014 Feb 2015 Mar 2015 Abr 2015 May 2015 Jun 2015
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 - October 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)
PALERMO 5.000 m2
PANAMERICANA 13.102
CATALINAS 41.000 m2
CORREDOR LIBERTADOR 24.854 m2
Sup. Total: 46.000 m²
Sup. Total: 37.956 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)
RETIRO 40.000 m2
SAN ISIDRO 6.000 m2 CORREDOR PANAMERICANA 20.015 m2
PUERTO MADERO 13.040 m2
BELGRANONUÑEZSAAVEDRA 66.600 m2
PALERMO 4.000 m2
CORREDOR LIBERTADOR 74.154 m2
CATALINAS 35.500 m2
Sup. Total: 159.940m²
Sup. total: 115.315m²
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 - October 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 - October 2015
Profitability A+
11
6,30
6,48
6,74
2002
2003
2004
11,57
2001
4.000 28
26
12,69 9,73
9,79
8,27
8,00
2011
2012
0,00 2000
3.800
4.200 30
31
3.800 31
3.700
26 12,39
2005
2006
Venta
2007
2008
Alquiler
2009
2010
4,59
5,27
4,95
2013
2014
Sept 2015
3500
10,24
3500
10,53
3500
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
30,00
2.570 28
35,00
3.100 32
40,00
3.500 37
45,00
4.500
50,00
4.500
Profitability Evolution A+ Capital Federal (before taxes)
Rentabilidad
Profitability Evolution A+ Northern Area (before taxes) 40,00
0,00 2001
13,56
14,41 2002
2003
2004
2005
Venta
2006
2007
2008
Alquiler
24,5
24
10,22
24
2700
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
5
15,00
560
20,00
1709
25,00
1250 15
22
30,00
2212 25
35,00
2009
2010
2011
2012
5,09
5,28
4,95
2013
2014
Sept 2015
Rentabilidad
Graphic Analysis 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 - October 2015
11
Maintenance average value in A+ buildings of Capital Federal and Zona Norte (per m²)
PESOS x m2
DÓLARES x m2 Cambio U$S 1=$ 8,535
Capital Federal
Zona Norte
$53,3
$49,45
U$S 6,24
U$S 5,79
Expensas
Expensas
Muestra Capital Federal: Juana Manso 909/1069, Bouchard 547, L.N.Alem 518,Cecilia Grierson 355, L.N. Alem 855, Ing. Butty 240, San Martin 344.
Muestra Zona Norte: Av. Del Libertador 77, Echeverría 4150, Cazadores de Coquimbo 2865, Av. Del Libertador 174, Edison 2659.
Nota: * Valores Julio 2014
Maintenance value evolution (averages in U$S)
6,54
6,68
4,99
5,1
Jul 2012
Dic 2012
6,21
6,63
6,55
6,1
6,11
Dic 2013
Jul 2014
5,38
Jul 2013
Office Real Estate Division : 4114-1000 | Zona Norte: 4719-9000
6,24 5,79
Dic 2014
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - October 2015
Our team
Mariana Stange Directora
Pablo Papad贸pulos Gerente
Eleonora Lefevre Broker Senior
Mariano Costa Broker Senior
Eduardo Gibelli Broker
Joaqu铆n Vidiri Broker
Silvina Lascano Broker
Guillermo Gallino Broker
Felipe Ramos Broker
Francisco Spini Broker
Gabriela Avalle Broker
Ricardo May Dixon Broker
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Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - October 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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