Thread: Argentine Real Estate
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02-20-17 19:00 #88
Posts: 247Taxes
Originally Posted by BigBossMan [View Original Post]
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02-18-17 23:14 #87
Posts: 101Originally Posted by BigBossMan [View Original Post]
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02-18-17 17:00 #86
Posts: 707Originally Posted by Rocky2 [View Original Post]
I guess that is why we voted 70% to 30% to stay the course. When Trump and O'Connell talk about getting America's economy back on track, the message doesn't connect. And yes I live in LA County which is probably ground zero for illegal immigration to which I think you are referring. About 1 million of the 13 million residents are illegal. There was a time in the beach towns where most of the bartenders were Canadians. Most of them were illegal as they had overstayed their visas.
I do think that under Trump California's economy will slow. Under Republican tax cuts, personal income tax will grow for Californians because of the elimination of Schedule A deductions. Republicans need California's economy to slow because it is the counter-example to all their economic modeling. For example, high taxes discourage entrepreneurship. You notice that so far Trump has only visited places that voted for him. And Trump is still talking about Hillary Clinton who I think is irrelevant now.
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02-18-17 16:11 #85
Posts: 101???
Originally Posted by BigBossMan [View Original Post]
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02-18-17 06:34 #84
Posts: 911Selling Real Estate in the Land of the Trucho
One of the biggest problems here in Argentina concerning real estate sales is the lack of bank financing. In order to sell a property you need to find a buyer with cash. When the buyer has cash they expect and almost always receive a very large discount. Or you the seller need to become the "bank" also. Major problem is when the people stop paying , the law does not work like you would expect it to. It can take years to remove a non payer and even then the courts might order you to repay all that buyer has already paid. This amounts to the buyer living rent free for years at your expense. While there is money to made, you need to be lucky and patient. It is not as easy as in the states.
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02-18-17 00:52 #83
Posts: 707Originally Posted by SteveC [View Original Post]
The fact that the AFIP is open to bribes is more of a reason not to invest in my opinion. I want to invest in places where there is rule of law.
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02-17-17 19:27 #82
Posts: 247Rent not buy
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.
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02-16-17 14:20 #81
Posts: 313Argentne real estate
Originally Posted by Xanadu [View Original Post]
I 100% concur with the above.
Don B.
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02-16-17 13:18 #80
Posts: 18Originally Posted by Moore [View Original Post]
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.
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02-16-17 05:07 #79
Posts: 751The $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.
Originally Posted by Moore [View Original Post]
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02-16-17 00:40 #78
Posts: 1043Current Real Estate Prices
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)?
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08-12-14 20:58 #77
Posts: 995DO 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.
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08-12-14 19:56 #76
Posts: 1099Originally Posted by Riina [View Original Post]
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.
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08-12-14 17:11 #75
Posts: 29Hey 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.
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08-07-14 22:38 #74
Posts: 3040Send Me a PM
Originally Posted by Ready [View Original Post]
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.