How to Buy Real Estate in Argentina
In 2001, Argentina's economy collapsed. There were a number of foreign investors who were forced to dig themselves out of the rubble. Today, real estate in Argentina, even prime real estate in Buenos Aires, is being valued at 10% to 15% of that in the U.S. or Europe.
- Difficulty:
- Moderately Challenging
Instructions
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1
Explore the recent changes in Argentina. While its real estate may be only worth 1/10 of that in the U.S., if it goes to 2/10, it has doubled. Athough Argentina's economy ranks near or below much smaller countries like Iran, it is experiencing aggressive growth. Net result: housing prices in Argentina have increased by 50% since 2002.
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Familiarize yourself with Buenos Aires. Do this so that you have at least a rudimentary understanding of tourist attractions and the various neighborhoods. Check the U.S. State Department report on Argentina to gain an idea about political stability.
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3
Understand that there are significant differences between real estate dealings in Argentina and the U.S. or Europe. Most transactions are in cash. This elminates your considerating local capital markets as a means of financing purchases. However, it also makes the real estate market relatively bubble-proof.
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Investigate some exceedingly attractive pieces of undeveloped land in surprisingly prime locations at prices far below anything similar in traditional markets. Check in particular Buenos Aires.
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Explore one of the general real estate listings for all of Argentina. Check both the commercial and residential listings.
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Contact Argentinean real estate agents about specific pieces of property. Schedule a trip to explore your list. Remember that if your serious about a purchase, you may need cash in hand.
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