Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - September 2015
Category A Market Trends 2014
2013
ZN
CABA
ZN
CABA
ZN
CABA
2015
Vacancia Demanda Valores
Dardo Rocha
2.520 30%
Panamericana
6%
96.126 Libertador (ZN)
12%
Belgrano - Nu単ez
58.439 2%
Palermo
4.264 100%
Plaza San Martin
24
30.700 37%
10% Puerto Madero
6%
49.000 2%
24,5
26
30
28
25
28
23
20
Microcentro
69.662 34%
28
Plaza Roma
28,4
9 de Julio
Catalinas
15%
112.486
136.612
222.025
295.940
Submarkets
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 - September 2015
Stock and Vacancy Capital Feredal Distribution of Vacancy A+
Stock - Vacancy A+
MICROCENTRO 0,9%
PLAZA ROMA 8,4%
PLAZA SAN MARTIN; 12,6%
Stock 757.124 m2
CATALINAS 15,3% PUERTO MADERO 30,4%
EJE 9 DE JULIO; 26,3%
PALERMO; 4,7%
BELGRANONUÑEZSAAVEDRA 1,3%
Composition Stock A+ PLAZA SAN MARTIN 4%
PLAZA ROMA 18%
MICROCENTRO 6%
Vacantes 90.967 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
/ljramosonline
Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - September 2015
Vacancy Evolution |Anual
35%
32%
30%
25% 19,53% 20% 18,21%
15%
12,01% 9,50%
5%
8,55%
8,13%
10% 8,71%
8,37%
10,02%
9,66% 7,95%
8,09%
6,58%
0%
2009
2010
2011
2012
Capital
2013
2014
Agosto 2015
Zona norte
Vacancy Evolution | Monthly
14%
12,63%
12,50%
12,59%
13,04%
12,38%
12,45% 12,06%
12,01%
11,85%
12% 10,02% 10% 8%
10,55%
9,96%
9,84%
9,76%
9,76%
12,42% 9,43%
9,23%
9,70% 7,97%
9,66%
8,17%
8,09%
Jul 2015
Ago-15
9,35%
6% 4% 2% 0% Ago 2014 Sept 2014 Oct 2014 Nov 2014 Dic 2014 Feb 2015 Mar 2015 Abr 2015 May 2015 Jun 2015
Zona norte Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
Capital /ljramosonline
Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - September 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)
PUERTO MADERO 18.055 m2
PALERMO 5.000 m2
CATALINAS 89.000 m2
Sup. Total: 159.140m²
PANAMERICANA 13.102 m2
Sup. Total: 13.102 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: 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
/ljramosonline
Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - September 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
/ljramosonline
Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - September 2015
Profitability A+
11
4.000 26
28
3.800
4.200 26
30
4.500 31
3.800 31
3.700 30
3.100 32
2.800 27
2.110 18
2.060
10,53
0,00 2000
2001
6,30
6,48
6,74
2002
2003
2004
10,24
11,57
2005
2006
Venta
12,39
2007
12,69
2008
Alquiler
9,73
9,79
8,27
8,00
4,59
5,27
5,04
2009
2010
2011
2012
2013
2014
Agosto 2015
3500
13,07
5,00
3500
8
10,00
10
15,00
12
20,00
1.800
25,00
1.600
30,00
2.280 20
35,00
2.570 28
40,00
3.500 37
50,00 45,00
4.500
Profitability Evolution A+ Capital Federal (before taxes)
Rentabilidad
2001
13,56
14,41 2002
2003
2004
2005
Venta
2006
2007
2008
Alquiler
2012
24,5
2011
24
10,22
24
2700
10,22
15,05 11,48
11,55 10,71
2300 22
13,8
1754 22
1739 20
14,57
23
0,00
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
3500
Profitability Evolution A+ Northern Area (before taxes)
2009
2010
5,09
5,28
5,04
2013
2014
Agosto 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
/ljramosonline
Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - September 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
/ljramosonline
Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - September 2015
Lease value at foreign countries, per city (U$S/m²)
Evolution expense value ( average U$S )
6,54
6,68
4,99
5,1
Jul 2012
Dic 2012
6,21
6,63
6,55
6,24
6,1
6,11
5,79
Dic 2013
Jul 2014
5,38
Jul 2013
Dic 2014
Fuente: Índice CONTRACT workplaces Office Real Estate Division: 4114-1000 | Zona Norte: 4719-9000
/ljramosonline
Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - September 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
Gisela Arditi Asistente
Newsletters
MAYO 2015
ABRIL 2015
DICIEMBRE 2014
NOVIEMBRE 2014
OCTUBRE 2014
SEPTIEMBRE 2014
Ver m谩s en > www.ljramos.com.ar Divisi贸n Oficinas | Centro: 4114-1000 | Zona Norte: 4719-9000
/ljramosonline
Office Real Estate Market of Buenos Aires City (CABA) and Northern Area (NA) Monthly Technical Report - September 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
/ljramosonline /ljramosonline