Although they are not hidden, it is true that they can go undetected, until discovered and traversed. The thing is, due to its little vehicular traffic, a physiognomy of cobbled streets, with properties Low-scale that retained its residential status and its proximity to iconic sites in the City, the picturesque passages of Palermo Soho are –poetic license through– like an oasis immersed in the bustle that touches on the side, due to the great commercial and gastronomic offer of area.
In the largest neighborhood of the Capital where the demand for the purchase of a property increased by 25% since last month and in this sub-area in particular – delimited by Córdoba and Scalabrini Ortiz avenues, and Paraguay and Godoy Cruz streets, for cite borders – rose 24%, according to data from Zonaprop, the value of the apartments can oscillate “between 5 and 10% more than the average. There are very few homes, compared to the rest of Palermo; it does not exceed 1%“, says Diego Migliorisi, managing partner of the real estate agency with the same name.
By crossing the blocks diagonally or perpendicularly they make the lots smaller. But the Urban Planning Code says that “any block with alleys is considered atypical and they have other rules; you can’t build high, in general. The greatest potential they can have is to keep their spirit differentiated from the rest of the streets,” he explains Daniela del Yerro, Director of Residential Development at Baigun Real Estate Operations.
Given the circumstances, there is a fine line by which the owner “should sell the property as a house and not as a lot, because the meters that can be built, many times, end up being very similar or, sometimes, less than what they are already built”, explains Gabriel Brodsky, CEO of Predial. Therefore, “it is uneconomical to demolish it to make a new building or to use what is already built.”
However, despite the fact that turnover is not significant compared to the rest of the neighborhood, the The search parameters of the people who decide to buy a property in Palermo Soho “continue to mark an increasing demand when it comes to consulting for tickets,” they say from the sector.
What properties can be bought
Yes ok “80% of the properties for sale located on the passages are intended for permanent housing”, According to Migliorisi (people who want a lifestyle similar to that of a house in a low area, but close to many means of transportation and avenues that allow them to move easily in the City), many others end up in the market of the temporary rent “Because they are well maintained, they are attractive and, in the vast majority of cases, they are buildings from seventy, eighty or one hundred years old, with a glamor that makes them appealing to tourists,” says Brodsky.
In addition, living in a cut also brings difficulties for those who travel by car when it comes to finding parking, logically the properties that have their own garage enhance their value compared to those that do not. Specifically, the offer establishes that a 2 rooms of 100 m2 12 years old in the Soria passage and with a garage today it is sold to u$s385.000but on the same block, for the same typology and without space to store the car, there are also opportunities: an 80-year-old building and 93 m2 (without elevator), for $155,000.
In the tickets, the value of the apartments oscillates between 5 and 10% more compared to the average prices of Palermo
While a house –which requires renovation– with its own lot of 260 m2, 6 rooms, 5 bathrooms and 2 garages and 40 years old is listed at US$490,000; On the side of the studio apartments, one of the most sought after for investment in all of CABA, there are possibilities in the Santa Rosa passage of a 1-room, 30 m2 apartment, with an elevator, but without a garage, for $109,000.
The most emblematic passages
Palermo Soho is one of the (sub)neighborhoods with the most blocked streets in its composition. Settling there can bring differential benefits; In addition to those mentioned in the first paragraph, they offer better views, more light, more privacy and less noise pollution.
disintegrated, the russel passage, between Thames and Gurruchaga, and meters from the Julio Cortázar square (which many call Plaza Serrano), its narrowness, its intervened facades, its hanging Santa Ritas and its walls make it an urban museum, a tourist attraction in itself . But a few meters later, the Santa Rosa passage It is not far behind: in addition to its two blocks in length and its cobblestone streets, there is a giant mural made with venecitas and papered walls for a large part of its route. And a colorful fact: it has a huge mansion on the right hand side, formerly the residence of the actress Natalia Oreiro and the musician Ricardo Mollo.
From Gurruchaga and completing its 40-meter journey before reaching Thames with a graffiti wall (later it is reborn as a street on the other side, up to Uriarte), the interventions and the vines that fall on some windows make the Soria passage a colorful space Until the narrow block occupied by the Colonel Cabrera passage –also full of street art including cartoon and comic characters– it preserves much of the original physiognomy of the neighborhoodthe one that used to show before its exponential development made it the most chosen area to live within the Capital.
