In the northern area of Greater Buenos Aires, olivesknown for its extensive green areas and its architecture of low houses, has a sector that is characterized as an exception to the rule: “The island”. This corner, defined by the streets Matías Sturiza, Comandante Leonardo Rosales, Juan Bautista Alberdi and the tracks of the Miter railway and the Tren de la Costa, experienced sustained development since the 90s. Now, a new 19-story project emerges among the silent streets of the neighborhood.
“It is a place which began to be developed in 1990 with high-class buildings, of which many of them became large in size. Although there are two and three room units, in general you can find from four to six rooms since it is an area where construction is intended to young families“, indicates Daniel Salaya Romera, owner of the homonymous real estate company. “He is characterized by being a very residential neighborhood with large unitsof buildings that were designed when the amenities and private security”, adds Maximiliano D’Aria, director of D’Aria Propiedades, to the reflection.
“The island” is also a geographical exception. “Olivos is normally flat and there is a geological outcrop where the land rises. For this reason, in the four blocks where the land naturally rises, 18-story towers had been allowed to be built, surrounded by an area where there are up to seven floors and it is very residential, with houses. That is The station area before the zoning of Avenida del Libertador was modified was where the tallest buildings in all of Olivos could be built”, indicates Salaya Romera. “The alteration in the floor gives a fundamental advantage for the height, since what would be the ground floor in ‘The Island’ is like a third floor on Libertador because it is 12 meters higher than the avenue,” adds the expert.
A unique aspect of these blocks is that They have a single entrance and exit given the direction of the streets, a fact that according to area specialists gives it a lot of security. To access “The Island” you must enter through Alberdi and exit through Entre Ríos from Rosales or directly through Corrientes from Rosales.
Buyers highly value the accessibility of the area. The Miter and Tren de la Costa train tracks delimit the place, which is also located a few steps from Avenida del Libertador and a 10-minute drive from the access to the General Paz highways and Lugones Avenue. Besides, young families who move here have the best schools in the country such as San Andrés, Northlands, San Lucas, San Nicolás and others such as Huerto de Olivos or San Gabriel nearby.
What is the US$30 million project in “The Island” like?
In the exclusivity of “The Island” of Olivos, located just 13 blocks from the port, at the intersection of Guillermo Rawson and Juan Bautista Alberdi, Aura Olivos is presented as a 19-story building in a sector close to schools, with connectivity and surrounded by nature. The project that demands a total investment of US$30 million in a area of 9535 m2 It is in the construction stage. It will end in 2026 and aims to integrate the comforts of urban life with the natural environment that surrounds the entire neighborhood.
“The decision of invest in this area of Olivos is based mainly on its strategic location close to the main urban access roads, offering an ideal connection for those seeking to balance their life between the city and the province of Buenos Aires. This makes it an attractive option for those “They value nature without giving up urban comforts,” comment Ezequiel Chomer, CFO of Grupo Chomer, the company developing the project when analyzing the growing demand for properties in the area.
Shortly after the work began, they have already sold 65% of the units, which will be two to five rooms and vary from 70 to 587 square meters. Buyers can enter with a minimum of US$2400/m² in the economy line -units equipped with the basics- and from US$3,500/m² for premium option apartments, which are equipped with appliances. Additionally, it can be accessed through a payment plan which includes an advance payment of 25%, and the remaining balance distributed in 36 installments in pesos, which are updated by the index of the Argentine Chamber of Construction.
“We observed a growing trend in the search for this type of housing, especially aimed at families with children who want to move to larger places to achieve greater comfort in a natural environment. But also an interest in both young people and families without children, who want to change their house for an apartment in a building that offers a variety of amenities and greater security,” Chomer says.
Sales values in the area
“Olives and Vincent Lopez years ago they beat well-positioned neighborhoods such as Belgrano, Recoleta, a beautiful area of Alto Palermo or Figueroa Alcorta in values due to the greenery, the proximity to the city and the post-pandemic paradigm, while before in those places the value of the properties was greater than those in the northern zone,” says Diego Tejedor, manager of two branches of Toribio Achával in the north area. In this sense, according to the latest data from ZonaPropin Vicente Lopez The value of a brand new unit is positioned at US$3873/m² and in Olives US$3136/m2while in the city of Buenos Aires in the neighborhood of Palermo is at US$3,302/m², in Belgrano at US$3,165/m² and Recoleta at US$3,033/m²..
Despite the exclusivity of the area, There are offers of used properties published. “This is not only related to the growth of the ‘La isla’ area but also to the lack of sales results, because today those who search find many options and sellers willing to listen to proposals,” says Javier Igarzabal, director of DIC Properties SA
Based on the offer published on portals onlineit can be exemplified that on Rosales Street A two-room apartment of 57 m² is for sale for US$170,000, a four-room apartment of 88 m² for US$329,900, another five-room apartment of 120 m² for US$269,000.and full apartment with river view of 177m² in a 15-year-old building it costs US$390.000 and, if larger surfaces are sought, a unit with six rooms and 254 square meters sold to US$900.000.
