Wednesday, July 29, 2009

Buenos Aires’ Building Boom

Building Boom in Puerto Madero Buenos Aires, Argentina
To build or not to build is not always a matter of demand. There is an increasingly high number of newly accomplished buildings popping up on the real estate market of Buenos Aires. I don't want to know how many of these office and apartment buildings will stand empty after completion forming a deserted ghost town. Frankly, there are thousands of people who would and could fill these buildings with life but cannot afford it. I do know these buildings are not projected to make the world a better place, but you can't stop me from dreaming.
Apropos, this isn't a phenomenon that arises only in Argentina. Have you ever heard of the new ghost towns in Spain? Ciudad Valdeluz, for instance, is a completely newly constructed city for approx. 30,000 inhabitants, but has in fact not more than 197 after all. — And it doesn't look like it's going to get any better.

10 comments:

Per Stromsjo said...

Things might change rapidly as the economy improves but it certainly requires a cool stomach on the part of the builders who don't see any return on their investments for years.

Your EG Tour Guide said...

I wonder why anyone would build, build, build without knowing who would inhabit the spaces. It boggles my mind.

Abraham Lincoln said...

I don't know how it is where you live but here they want to build new and tear down old or leave old wither and die. I think the old should be used before new is made. But that's just me.

Jacob said...

Times are tough all over from what I hear. In Florida, whole subdivisions of partially-build home are standing vacant.

Last month, there were 40,000 foreclosures in Florida!

I think it's going to be years before we see a turn-around.

Why do they keep building? In Miami Beach, climate change via global warming is already taking its toll - parts of Miami Beach are underwater by several inches at high tide right now. But they keep building new highrises!

Crazy!

AB said...

Even if they are empty immediately after completion, they will eventually be filled, I think. The expansion of São Paulo and Buenos Aires seems to know no end.

RogerB said...

Construction isn't bad - just bad construction is bad. A well-planned and designed building will attract and keep tenants - housing or business. A cheap building will struggle from the start and quickly become an eyesore.

B SQUARED said...

It's the same everywhere. One of the reasons we are all in this mess.

Buenos Aires Photoblog said...

It is needless to say that these building are mainly build for wealthy people, mostly foreigners, as an investment. These people have less than a clue about the real estate market, the real prices and the crony economy in Argentina. They get told they can rent it out for sure. Everything looks clean and tidy; the agents promise you everything you want to hear. Many of these buildings are already finished. Guess what, many of them are half empty resp. half full, depending on your point of view. The only things that are really constantly growing in Argentina are the debts, the inflation, the poverty and the shantytowns.

Jacob said...

@ Buenos Aires - That is such a sad tale! It seems some things just never change.

Bygningsentreprise said...

And I still hoping that the former Buenos Aires will be preserved. Because its really a very nice place.