Northern Buenos Aires Real Estate Transforms Amid Market Shifts and Suburban Resilience

The real estate landscape in Buenos Aires is undergoing a notable shift, with "Zona Norte" (Northern Zone) experiencing a surge in activity and project development, particularly along Avenida Maipú. Concurrently, suburban markets such as Canning and San Vicente maintain their appeal, though with less intensity than in previous years. Experts suggest the idea of a widespread return to the city center is more myth than reality.

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The market has been growing for years. This 2026, we see an active and very interesting market for buying and selling properties, but we do notice greater caution. What has changed is the short/medium-term speculation by end investors.

Maximiliano D’Aria, director of D’Aria propiedades, described the market as active and interesting for property sales, though he observed increased caution among investors, particularly regarding short-to-medium term speculation. Esteban Edelstein Pernice, a partner at Castex, characterized the market as healthier, with properties that are correctly priced seeing strong movement. He noted a significant reduction in available stock, indicating a market correction.

Beyond price per square meter, buyers are increasingly seeking an "experience," according to Héctor Lostri, director general of Inmobiliaria y Desarrolladora Narvaez. He highlighted a scarcity of premium offerings, driving demand for sophisticated properties where price is less of a sticking point. Negotiation power has shifted significantly from buyers to owners, with counter-offers averaging around 5%, a stark contrast to previous years when they could reach 20%.

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We can talk about a healthier market; the movement is in properties that are priced correctly. There is a big difference between the result of those that are overvalued and those that are not. Stock has been greatly reduced and that has been cleaned up.

While the migration trend to suburban areas has slowed from its peak during the pandemic, Lostri attributes this not to a return to the city, but to the current economic climate. He pointed to substantial ongoing construction in areas like Nordelta (580 projects) and Puertos (nearly 500 projects), as well as Terralagos in Canning (200 projects), as evidence that development continues robustly outside the traditional urban core.

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People are not returning to the capital, not at all.

Both Lostri and D’Aria have observed increased activity in recent months, influenced by macroeconomic factors and stock market performance. Despite the differing geographical focuses of their businesses, these broader economic forces are shaping the real estate sector across the region.

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People are not only looking for price per square meter, but for experience. This is a market that is coming out of a lethargy: you don't have many developments, you have a scarcity of premium things; so, people are looking for sophisticated things and are not discussing the price so much in our case.