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What are some good sites that I can look at to learn about the real estate market in BA.
What are the areas due to appreciate in the next 5-10 years? (San Telmo, Palermo Hollywood?)
Thank you for the information in advance, if this happens, I promise a AP party to christen the joint!
Hi all:
I have a friend who recently visited BA and really liked it. He had been thinking of buying a second home somewhere in Florida, but he got interested in the idea of exploring the suburbs outside of BA for a vacation or retirement property.
I recall a discussion somewhere on this board (not necessarily this thread) where someone described the house they built or bought in the suburbs in great detail, complete with cost, square footage, and a thorough description of the area. There are a number of posts here describing the process for the city. But, the post I am looking for described the process for one of the suburbs.
Can anyone recall that thread? I've searched around for an hour but I don't remember enough, such as the name of the suburb, to find anything. The discussion doesn't seem to be in this thread. I've searched under several of the local posters' tags, El Queso and others, but can't seem to come up with anything there, either. I think it's from three years ago or so.
Any help would be greatly appreciated. I'm just trying to give him an idea on cost, size and the problems he may encounter. The earlier discussion was an excellent example.
He used to post under TL's resto threads. I met him in TL's place many times. He was subdividing the property he had and building spec houses and selling them. He was doing well financially. I believe that he had done this before in another country and had a lot of "know how" try to pm him. I am likely not spelling his name correctly.
Best of luck as always stan.
Bob
The correct name here is " Spassmusssein ". It is german and means something like " It has to be fun " in english.
Lueck Hoff
Christinaism plus Budouism makes Xiristocracia.
For somebody new to Argentina, at the moment I would not recommend to invest in real estate.
Maybe in Capital Federal, but never in the provinces. In Capital Federal you still can find zones with good prices that surely will rise within the next years.
Be sure to have at least your CDI (individual tax number) from AFIP (H. Yrigoen 1550) to realize a buy.
Puerto Madero, all those advertising in "Palermos" and "Caballito" are IMO absolutely overheated and not worth the prices. Wait for the next "corralito" to buy then.
Look at Capital Federalas it has the shape of an open hand.
From the base (riverside) stretching out like a hand. With this picture you can imagine the next zones to develop.
I recommend that you stay in Buenos Aires a few times and look around.
Find out where you really like to stay and then get into it.
For the suburbs you have three choices:
The north (which is the richest zone close to BA, Vincente Lopez, Olivos, San Isidro, Martinez.) square meter/ground between 200 - 800 USD (lot)
The west (AVOID) as it is the poorest zone and you can be shure to have probs, living there as a stranger) sqm/grd between 10 and 80 USD (lot)
The south (a mixed middle-class zone from lower to upper, small cities with 100' - 400. 000 inhabitants) sqm/grd between 35 and 200 USD (lot)
Don't look for properties in the east, there is just water. Or Colonia in Uruguay).
Offers of ground/casas you will find in:
[url]www.topinmobiliario.com.ar[/url]
or
[url]www.buscadorprop.com.ar[/url]
Cost of construction depends of your experience and ability to manage a good Spanish ("spanglish" is not suficient for efective results).
Constructors actually are calculating between $ 650 to $ 1000 (USD, no pesos) per square meter.
I am constructing actually for arround 350 USD, but I just build my own investments, not for third ones. These costs include the mano de obra as since years I am working with the same team.
Some details:
- Swimming pool (8 x 4) $ 5000 - 10.000
- Jacuzi (triangle 150) $ 1000
- Juego de baņo high-end $ 1000 - 2000
- Griferia $ 500 - 1200
- Shower triangle (glass, special high-presure...) $ 500 - 1500)
- Sauna $ 1000 - 2500
- sfety door entrance $ 1000
- Doors $ 200 - 500
- Windows $ 200 - 800.
- Ladrillo comun ps 0,60 - 0,80,
- Ladrillo 12x18x33/9 huecos ps 3,20 - 3,60
- Tiles porcelanato (60 x 60) ps 40 - 150.
Good luck.
It was good to run into you and talk. Where would I find you these day at 23:00 having a drink or a coffee? Is Eric in New York? I missed him in June and now again in August.
By the way and off the topic, where do you go to meet pleasant young ladies with high sex drives?
BOB
I am just finishing a small 90 square meter house in the provincia. Building costs without labor was around U$D 400 a square meter without land. Nothing special but a well built house. Insulated glass, heat, air, well insulated. You could easily double or triple this figure with labor costs an if you are into marble etc.
I wold be very interested in reading peoples thought on the current prices for apts / condos in Buenos Aires. When I look at what is advertised online or in store windows the price seems to be more than a little expensive for what a person gets, especially when compared to what it would cost to rent the place instead of buying it. I usually at look at 1, 2, or 3 bedroom places.
[QUOTE=SunSeeker;424351]I wold be very interested in reading peoples thought on the current prices for apts / condos in Buenos Aires. When I look at what is advertised online or in store windows the price seems to be more than a little expensive for what a person gets, especially when compared to what it would cost to rent the place instead of buying it. I usually at look at 1, 2, or 3 bedroom places.[/QUOTE]I had a conversation with a local realtor the other day. Future prices are hard to predict with all the currency madness right now, and coupled with the recession onset. Best guess is to the downside, but how quickly that will occur is difficult to say.
He did say that at present, sales are about 15% below list price.
Do you think now is a time to buy?
Prices are down and may go lower. And I think the listed prices are soft by 10 - 15 %
Comments por favor.
Jackpot
[QUOTE=Jackpot;432781]Do you think now is a time to buy ??
Prices are down and may go lower. And I think the listed prices are soft by 10 - 15 %
Comments por favor.
Jackpot[/QUOTE]Where have you seen prices going down? Any specific area? I haven't seen prices lowered on apts I have been watching but I have seen a lot more 45 m2 or less apts up for sale for $120-$150k USD.
[QUOTE=Jackpot;432781]Do you think now is a time to buy ??
Prices are down and may go lower. And I think the listed prices are soft by 10 - 15 %
Comments por favor.
Jackpot[/QUOTE]Prices NEVER go down in Argentina. Not the asking price anyway. Argentine law of economics 101. When there is less money and less demand, RAISE YOUR PRICES!
And everybody thinks the future is rosy, and prices have nowhere to go but up. That's when demand is high and prices are rising.
Or you can buy when everyone thinks disaster is around the corner, and dollars are getting harder to get. Prices are falling and everyone is scared.
I know when I would prefer to buy.
Short term (1 to 2 years) things look pretty bad (although maybe better than anyplace in europe) but in 5 to 10 years this city will still be one of the best cities in the world for tourism, nightlife, etc.
As long as you don't mind waiting a few years, and taking some risk, returns will be very good, imo. A lot better than buying in a bubble market like those in Canada and Australia, where everything is 'safe' and booming.
And in the meantime you get to live in an inexpensive city or rent to tourists who pay in USD outside the country. Be careful about taxes though, and you better investigate what happens when you want to sell if you aren't a resident. Due diligence required, as always.
[QUOTE=FrankAndStein;432789]And everybody thinks the future is rosy, and prices have nowhere to go but up. That's when demand is high and prices are rising.
Or you can buy when everyone thinks disaster is around the corner, and dollars are getting harder to get. Prices are falling and everyone is scared.
I know when I would prefer to buy.
Short term (1 to 2 years) things look pretty bad (although maybe better than anyplace in europe) but in 5 to 10 years this city will still be one of the best cities in the world for tourism, nightlife, etc.
As long as you don't mind waiting a few years, and taking some risk, returns will be very good, imo. A lot better than buying in a bubble market like those in Canada and Australia, where everything is 'safe' and booming.
And in the meantime you get to live in an inexpensive city or rent to tourists who pay in USD outside the country. Be careful about taxes though, and you better investigate what happens when you want to sell if you aren't a resident. Due diligence required, as always.[/QUOTE]If you are non resident selling an apt here, AFIP (Federal Tax Agency) just assumes you have rented out APT when you were away, and the burden of proof otherwise is on the owner, then if you give in instead of fight, they add on penalty and interest. Also, if you have a higher end property, very important to be up to date on paying the yearly wealth tax.