Argentine Real Estate

[Daddy Rulz]

Honest lawyer and honest broker are both oxymorons in Argentina, especially if you are a foreigner.

Tres3.

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.

[Gandolf50]

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.

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.

[Tres3]

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.

Honest lawyer and honest broker are both oxymorons in Argentina, especially if you are a foreigner.

Tres3.

[Ready]

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.

[Gikubik]

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.

[Carmille21]

Would like to know the lowest possible prices for single apt/condo. Thanks



Withington agent

[Silver Star]

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.

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.

[FrankAndStein]

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.

[Gandolf50]

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

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!

[SunSeeker]

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

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.

[Jackpot]

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

[El Perro]

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.

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.

[SunSeeker]

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.

[Gandolf50]

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.

[Miami Bob]

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