Would like to know the lowest possible prices for single apt/condo. Thanks
[url=http://www.bridgfords.co.uk/forsaleoffice/withington/413/]Withington agent[/url]
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Would like to know the lowest possible prices for single apt/condo. Thanks
[url=http://www.bridgfords.co.uk/forsaleoffice/withington/413/]Withington agent[/url]
Hello guys,
I have been involved here in real-state world for foreigners as long as one of my clients has had several properties in the city. I'm here again to prepare things to sell the last of his apartments and I'm praying to forget this fucky city!
If you bought several years ago as investment and you rented the flats in dollars for sure you made a good business but golden age is over... You can buy here as investment or for living. Both options are wrong in my opinion but I can give you only objective reasons for the first one.
You have to pay a lot of taxes and if you are a foreigner your taxes are higher. This won't change, in my opinion. Of course if you rent a flat in dollars and pay your taxes in pesos it's fantastic but, hey dude, search some short-term rentals webpages and you will see hundreds of empty apartments everywhere. Dollars are not entering as always for real-state.
AFIP has increased controls a lot. Before nobody pays anything! It was a great party! But now you have to pay if you want to be able to sell in the future (don't worry, they will wait for you... Another important thing is that moving money in this country is difficult and sometimes can be really expensive (it depends on the market). Nowadays entering money is more expensive than send out. And of course you need to enter money to buy... Or not? The only good thing I'm going to say about this place is that you have always a back-door to do some extra money with weird systems but they are not stable or serious...
If you like this place of course you can buy... Why not? (maybe because you haven't visit other countries much better! But as investment for foreigners, nowadays, it's a shit... It doesn't depends on the current or future price of apartments. It's the whole system waiting to take off the money you earn! And foreigners in this country are the last. For them it's a good thing to give us a worse treatment. Someone told me this sentence I will remember all my life:
"Los argentinos son expertos en montar fiestas para que las paguen los demás".
And "los demás" are always the foreigners!
Good luck anyway!
Xavi.
A friend of mine is just retired and he wants to purchase a Winery and / or Vineyard in Argentina or Uruguay. I was wondering if anybody had a tip has to a honest lawyer and broker in Argentina.
[QUOTE=Ready;440764]A friend of mine is just retired and he wants to purchase a Winery and / or Vineyard in Argentina or Uruguay. I was wondering if anybody had a tip has to a honest lawyer and broker in Argentina.[/QUOTE]Honest lawyer and honest broker are both oxymorons in Argentina, especially if you are a foreigner.
Tres3.
[QUOTE=Ready;440764]A friend of mine is just retired and he wants to purchase a Winery and / or Vineyard in Argentina or Uruguay. I was wondering if anybody had a tip has to a honest lawyer and broker in Argentina.[/QUOTE]Much better if he finds a local to go with him when hes looking, even if he has to pay them something for the day.
[QUOTE=Tres3;440765]Honest lawyer and honest broker are both oxymorons in Argentina, especially if you are a foreigner.
Tres3.[/QUOTE]But my lawyer so far has been pretty honest. I don't know if he wants his name or number here but I'll ask him and if so pass it along.
[QUOTE=Ready;440764]A friend of mine is just retired and he wants to purchase a Winery and / or Vineyard in Argentina or Uruguay. I was wondering if anybody had a tip has to a honest lawyer and broker in Argentina.[/QUOTE]I have had a connection in Mendoza for the last 10 years.
He is an attorney and a landowner.
He is my father's landlord and my ex-partners partner.
Very trustworthy.
You are welcome to talk to him.
I have been in Mendoza for the last 4 months. Lovely weather!
Thanks,
TL.
P.S. Uruguayan wine is virtually unknown where as a nice Malbec from Mendoza is world renowned!
It should not be a hard decision.
Hey guys,
Just a question for the BA Donald Trumps. If I could buy a condo in the US for 200 k and generate $1500 monthly rent, how much would I have to pay in cash for a BA condo that will generate the same expected cash flow? The assumptions are that the properties are located in city core areas and can be easily rented to college educated professionals for the foreseeable twenty year future. Also, the US condo can be bought for 20% down with a 30 year institutional note at about 4. 3%. Square footage is not a factor, only that the location and structure can attract a corporate America tenant.
[QUOTE=Riina;440838]Hey guys,
Just a question for the BA Donald Trumps. If I could buy a condo in the US for 200 k and generate $1500 monthly rent, how much would I have to pay in cash for a BA condo that will generate the same expected cash flow? The assumptions are that the properties are located in city core areas and can be easily rented to college educated professionals for the foreseeable twenty year future. Also, the US condo can be bought for 20% down with a 30 year institutional note at about 4. 3%. Square footage is not a factor, only that the location and structure can attract a corporate America tenant.[/QUOTE]200 K property in BA can generate a rent of 1500 USD a month. Provided its a short term fully furnished rental. This means you would pay the building expenses, electricity, wi-fi and of course any major repairs etc. If the rental is really short term, you would also be paying for maid service and change of bulbs, wear and tear.
If the building is a good property, you will generally have less problems with wear and tear.
Plus the property may not be rented 12 months a year unless you have a good agent (which will then increase the outflow costs) and tourists are still coming to BA. No Argentine will rent for this rent or for short term.
So the 1500 us$ rent a month may become much lesser after all the outflows.
Hope this helps.
DO NOT, as a foreigner, ever buy real estate in BA as an investment. USA is a better investment by far.
Buying is easy, managing & selling is a disaster.
If you have money to invest keep it far away from BA. Why do you think Argies have billions in dollars overseas.
You want to live here, that's different but still a little chancy. Rent for a couple of years to see if you like it.
Does anyone have an opinion of the current real estate market in BA?
I'm down here enough that I'm thinking of buying instead of paying rent. But to me the prices seem quite high, roughly 3,000 USD per m2 in Recoleta/Palermo. That number doesn't seem to jive with a per capita GDP of 12,000, roughly 20% of USA. Everything here seems to have gotten quite expensive over the last few years for a developing country...even when I go to the grocery store it's about the same price as USA...the peso seems immensely overvalued. The last time I saw prices like this was during my first visit to BA back in 2000, and we all know how things soon crashed after that.
So that's just my gut feeling. I don't have any current knowledge of the local economy or housing market, just some years of general experience in Argentina.
Anybody care to chime in with their opinion? If supported by some sort of data even better. Buy now or wait for that big crash (we've been waiting a while)?
The $3000 USD/ meter figure you mention is accurate for apartments in premium locations in Recoleta and Palermo. Essentially all real estate in CABA is owned outright (as in no mortgages) so somebody is actually forking over the cold hard cash (literally) every time a piece of real estate changes hands, which makes the real estate market in CABA as stable and the prices a real as anywhere in the world since the local market DOES NOT float on a sea of debt as in common in most places around the world. The AR peso is extremely overvalued at the moment; however anyone who has lived through a decade or more of Argentine economics can tell you that the currency swings from overvalued to undervalued and is only very rarely and for short periods of time what could be assessed as fairly valued.
[QUOTE=Moore;448635]Does anyone have an opinion of the current real estate market in BA?
I'm down here enough that I'm thinking of buying instead of paying rent. But to me the prices seem quite high, roughly 3,000 USD per m2 in Recoleta/Palermo. That number doesn't seem to jive with a per capita GDP of 12,000, roughly 20% of USA. Everything here seems to have gotten quite expensive over the last few years for a developing country...even when I go to the grocery store it's about the same price as USA...the peso seems immensely overvalued. The last time I saw prices like this was during my first visit to BA back in 2000, and we all know how things soon crashed after that.
So that's just my gut feeling. I don't have any current knowledge of the local economy or housing market, just some years of general experience in Argentina.
Anybody care to chime in with their opinion? If supported by some sort of data even better. Buy now or wait for that big crash (we've been waiting a while)?[/QUOTE]
[QUOTE=Moore;448635]Does anyone have an opinion of the current real estate market in BA?
I'm down here enough that I'm thinking of buying instead of paying rent. But to me the prices seem quite high, roughly 3,000 USD per m2 in Recoleta/Palermo. That number doesn't seem to jive with a per capita GDP of 12,000, roughly 20% of USA. Everything here seems to have gotten quite expensive over the last few years for a developing country...even when I go to the grocery store it's about the same price as USA...the peso seems immensely overvalued. The last time I saw prices like this was during my first visit to BA back in 2000, and we all know how things soon crashed after that.
So that's just my gut feeling. I don't have any current knowledge of the local economy or housing market, just some years of general experience in Argentina.
Anybody care to chime in with their opinion? If supported by some sort of data even better. Buy now or wait for that big crash (we've been waiting a while)?[/QUOTE]My first trip to BA was decades ago. I've seen the economic and societal winds of change blow unexpectedly and forcefully in this country. I fully agree with the post below from Thomaso276 regarding the consideration of buying real estate in Buenos Aires; especially so given, in my view, what I consider to be current inflated prices.
Generally speaking, IMHO, I would not trust an Argentino as far as I could throw him, or her. So, if you can afford to do so, my advice is to rent well in order to enjoy freedom of movement along with peace of mind concerning your investment. Good luck whatever you decide to do.
[QUOTE=Xanadu;448637]My first trip to BA was decades ago. I've seen the economic and societal winds of change blow unexpectedly and forcefully in this country. I fully agree with the post below from Thomaso276 regarding the consideration of buying real estate in Buenos Aires; especially so given, in my view, what I consider to be current inflated prices.
Generally speaking, IMHO, I would not trust an Argentino as far as I could throw him, or her. So, if you can afford to do so, my advice is to rent well in order to enjoy freedom of movement along with peace of mind concerning your investment. Good luck whatever you decide to do.[/QUOTE]My first trip to Argentina was about 30 years ago and I worked and lived in Bs As for a year.
I 100% concur with the above.
Don B.
I bought and sold two apartments while I was living here. I made a good return both times, but would never buy here again. I was lucky to get my money out the country without paying a huge sum in taxes. AFIP told me each year "No taxes to pay on an apartment of your value", until I came to sell it. It would have cost me upwards of $10k dollars to exit. Luckily my accountant arranged a $500 'fee' to a friend working in AFIP and my problem was solved. Its so unpredictable here; rent not buy. Long term airbnbs can get around the guarantor problem.