Thread: Apartment in Puerto Madero Buy or not?
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03-21-11 06:07 #6
Posts: 145Expensas, etc
Depends on the appartment and building but can easily reach 500 dollar a month.
With todays going rate for a 2 bedroom short term rent thats about 4 to 5 months worth of rent.
Personally I would never buy in a country where prices go up so fast and you can rent an appartment for about half the real worth.
Your best would probally get a 2 year lease with AT MOST 3 months in advance. You would have to maintain your appartment yourself and buy your own stuff.
PM is a great place to live by the way. Its completly safe and clean and there is still clean air. Location is also great and public transport is always near.
If you cook at home its a ***** though, because there are no supermarkts (one coming though, but probally with pm prices) near but a carrito can solve that if you don't have a car
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03-21-11 03:59 #5
Posts: 1064Have you shopped various neighborhoods? I personally would not want to live in PM
The eastern corridor: Uruguay to Botanico and between Juncal and off of Libertador is interesting for less money, you receive real neighborhoods. Recoleta, outside of the very touristy zones; Palermo Aguero to the Botanico and especially between Las Heras and above Liberatador is gorgeous and more green, but with easy access to downtown for business. The further out in Palermo is really nice, but more travel distance to downtown.
I have assumed that you are looking at Puerto Madero for close to centeral business district with a little serenity. PM lacks a real community feel: local small shops and easy to reach restaurants where real Portenos eat themselves.
I assume that you are not on a tight budget and want a prime neighborhood. There are many very nice, safe neighborhood that that I have not mentioned, but they aren't as elegant and upper end.
Best of luck, learn what you want and if you can wait, there should be much lower prices in the near future. I am always looking, but don't really need to own and am not planning upon living in baires in the near future.
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03-19-11 12:42 #4
Posts: 55Thank you all for your input on my questions they are very useful.
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03-14-11 14:20 #3
Posts: 55Very thoughtful response. I'm a journo for a financial rag and currently working in Argentina and our forecasts suggest that the peso will probably drop significantly in value in the 18 months against the USD and STG. So if you are buying with foreign currency and in no hurry, then it might pay to wait.
Originally Posted by Wild Walleye [View Original Post]
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03-14-11 13:31 #2
Posts: 1885Buying real estate
The following advice is worth what you are paying for it.
Originally Posted by Member #1164 [View Original Post]
However, the biggest consideration, in my opinion, is how long do you want to be in the apartment and how much control will you have over when you will sell the apartment (something you probably don't know today). In any event, if you purchase the apartment for cash and live in it for a number of years, and sell the property at a price lower than your purchase price, you may still come out ahead than you would have if you rented. Keep in mind that while you are living in the apartment, that you own, you are not paying rent. Therefore, if you subtract the 'loss' on the property (plus all other home owner costs) from the cumulative rent you would have paid, had you not purchased the apartment, you arrive at a down and dirty snap shot of the net difference between buying or renting.
and then we also heard from various people that within the next 2 years there will probably be another crash here in Argentina.
Beyond the potential of this to become a mass behavioral, self-fulfilling prophecy you need to take it with a grain of salt. However, while past performance is no guarantee of future results, Argentina has a very consistent history of economic cycles occurring with a greater frequency than the G-7.
We are not really sure how that affects real estate here in Argentina if the crash does happen.
Any input will be really helpful. As most you know the prices in Puerto Madero are very high so its not a small investment.
Thanks in advance.
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03-14-11 12:50 #1
Posts: 55Apartment in Puerto Madero Buy or not?
My wife and I are currently debating on whether to buy or rent an apartment in Puerto Madero. We have our own business here in Argentina and just don't know what to do cause lots of people we know say buy others say rent, and then we also heard from various people that within the next 2 years there will probably be another crash here in Argentina. We are not really sure how that affects real estate here in Argentina if the crash does happen. Any input will be really helpful. As most you know the prices in Puerto Madero are very high so its not a small investment.
Thanks in advance.