Buenos Aires

P

phoenix_n

Guest
Has anyone here looked into purchasing a place in BA in Argentina ?

I know roughly the suburbs where growth may occur in the future and would like to know if anyone here is thinking of investing (or has invested) there and what analysis of the market they may have made.

Would the fact that the Peso$ is linked to the US$ (1 to 1) be of significant risk as the future of the dollar may not be good.
 
phoenix_n said:
Has anyone here looked into purchasing a place in BA in Argentina ?

I know roughly the suburbs where growth may occur in the future and would like to know if anyone here is thinking of investing (or has invested) there and what analysis of the market they may have made.

Would the fact that the Peso$ is linked to the US$ (1 to 1) be of significant risk as the future of the dollar may not be good.
Click to expand...
Rental yields are 10-12% in many parts of the BA (rents 450dollars month nice apartment 50kdollars. You could short dollar if you were worried about a dollar decline. Borrowing locally may be an option. George Soros bough a few hundred thousand acres of prime agri land down there as have many american and european beef barons. You can buy agri land/vinyards very cheaply and it entitles you to apply for residency/citizenship. With argi commodities rising as world demand continues to grow the land may become much more expensive in future. Argentinian beef is rated among best in world.
 
Thanks bearishbull.......i figured i would hear from you :)

Seriously thinking about heading over in April to look into buying a place but its hard going getting good info. I just read aswell that the peso is no longer linked with the dollar..........i figure that is good but have not thought it true...

I was thinking about spending 50K dollars as well but have you come across any good real estate sites...

I looked into the agri land thingy but at the moment i can only stretch to an apartment (rest riding on a german recovery) and (like you if i remember well) in the future if i move there ,(gonna stay there for a few months whilst i look into buying) i would think about buying a vineyard or something. Just have to build up some more capital first though:)
 
muzaway said:
This guy has a good deal of info on his site about the buying process in BA. Ages since I read it but if I remember correctly he was saying that places are often bought for CASH in US Dollars.

http://www.apartmentsba.com/argentina-real-estate-consulting-&-property-management-69/
Click to expand...

Thanks i came across that site alright. Yeah it has to be in cash (and is complicated by that the price is in dollars but exchanged in pesos) as banks dont lend.

Managed to get a contact in BA who is giving me some advice.
 
I bought an apartment 4 years ago and am buying another off the plans. Had to take dollars with me and paid everything in cash. There are 3 pesos to the dollar (or 4 to the euro) at the moment but properties are priced in USD, bought and sold in cash. Argentinians , with good reason, do not trust banks. There's a construction boom at the moment with lots of new developments all over the city. Puerto Madero is very popular with foreigner investers, San Telmo seen as "up and coming" but Recoleta and Palermo are more established middle class areas with great public transport, shopping and entertainment. A good website is www.argenprop.com.ar and you can also see classified ads in daily newspapers www.clarin.com.ar and www.lanacion.com.ar.
 
Says a lot for the quality of your research when the 1:1 peg was dropped years ago following the crash.

As BsAs mentions, following the banking crash Argentinians don't trust banks and tend to keep their money in hard assets or foreign currency under the bed (walk around BA and you'll see bullet holes in bank buildings). As such, property there is not particularly cheap.

The "rich" Argentinians who would buy in Palermo and Recoleta managed to protect their money for the most part so I don't personally see much appreciation there. Middle class areas would be where I would look as they suffered the most.

if you want a vineyard look into property in Mendoza (earthquake prone though).
 
Hi
Was looking at Argentina also as yields seem to be higher and economy recovering.
Another area was the Dominican republic and because of higher yields loans offered needed no proof of income(proof of identity still needed).

Was wondering if anyone has experience of other areas giving higher yields and also of loans without proof of income being available.

Deeper
 
You must log in or register to reply here.
Back
Top