Algodon Wine Estates

Hotel Reservations

Among the mountains, wineries, and lakes

Source: Clarin
By: Liliana Carbello
12.27.2008

This year nearly 10 urbanizations were launched. Most of the projects are located in Mendoza and Córdoba.  Lots are available from US$ 55.000.

The private urbanization projects located in different tourist destinations throughout Argentina ended the year on an upswing.  The country club market incorporated approximately 10 projects.

Most of these projects are locates in Córdoba and in Mendoza.  There are also new projects in Salta, and in San Martin de los Anders.  They all share similar scenery full of mountain ranges, lakes, and Rivers which provide an additional attraction.

Among these new projects there are complexes that include their own wineries, and star-ups with a complete infrastructure that include golf courses and luxury apartments.

The range of prices is fairly wide. Lots start at US$ 54.000, and apartments at US$ 60.000.

The country clubs that boasted their own vineyards were among the year's chief protagonists. As part of an attempt to update the update and improve the overall offering, urbanization projects were undertaken in Mendoza that, in addition a country club lifestyle, offer prospective owners the possibility of harvesting grapes to produce their own wine.

"This is a great time to buy in Mendoza, where the international prices are really low, and the projection is enormous.   The same quality wine that is produced in areas like La Rioja, and Napa Valley can be made in Mendoza, but at 1/10th of the cost," says Federico Blizniuk, director of the Fiduciary Capital Group, which is developing and commercializing Santa María de los Andes.  Located in Luján de Cuyo, with views of the Andean mountain range, this project offers the possibility of building a home, and producing wine on the same lot.

Algodon Wine Viñas del Golf, in San Rafael, and Tupungato Winelands in Valle offer a similar experience. Both will contain attractive, 18-hole golf courses, and an equestrian sector complete with a Polo course. The former will have a lodge, and the second a hotel.

Cordoba is also ending the year with several start-ups.

Terrazas de la Estanzuela, in the city of La Calera, located 17 kilometers from the city of Córdoba, is selling the last 25 lots out of a total of 215 that were initially offered.

En Calamuchita, El Silencio is distinguished by its mountain views, and by the tranquil, family-style atmosphere.

Condominiums are well received in market due to their attractive prices, and the sports facilities the offer. Casonas del Golf, en Villa Allende, will have 66 two and three-bedroom apartments.

Jardines de la Estanzuela, located in La Calera, will offer 146 units, including studios, and one and two-bedroom apartments.  Launched at the end of October, it sold more than 50 apartments in two months.

In Salta, Terrazas de San Lorenzo has already sold 80% of its lots. "The north is a region where tourism is an important variable when it comes time to investing; real estate developments offer an additional attraction, since, in addition to the year's worth of rent, you have the possibility of getting a higher seasonal rent," adds Iván Beccar Varela, manager of the Proyecto Norte.

The south rounds out the list of launchings. En San Martín de los Andes, Neuquén, Peñon del Lolog combines views of the Chapelco peaks with infrastructure: a clubhouse and sport center.

"The development of private urbanizations en Patagonia, and especially in San Martín de los Andes has grown exponentially lately, due to the demand of both the local and international markets," says Oscar Domenici, one the partners at EIP S.A, which is carrying out the complex.

The same rhythm despite the crisis

It was a year full of activity, in which the standouts were high quality products and growth of the mega.  The Nordelta region, for example, was the engine that drives Tigre, thanks to its multiple launchings.  Condo style hotels located inside country clubs were another trend, that are popular in part thanks to the control they provide over services. Prices remained stable, and investors continued betting on these projects.   Proof is the U$ 50,000,000 that Europeans will spend in the mega Area 60.   Luxury shopping centers aren't far behind, and brought some new value to Maschwitz, the Zona Sur, and Tigre.  While the global crisis is clearly affecting the real estate sector, Argentine's continue to prefer investing locally, and in their own homes.

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