Argentines start bringing their money home
- Thread starter perry
- Start date
hmmn, I think nikad is correct - SS may have got lucky with his (one?)apartment.
We have several apartments at local and expat and the reality is max 7% last year which I guess will be the peak of tourism. no matter how you market, voids are unavoidable, fees are fees and commisions are commisions.
...and sales agents always talk up the market no matter what the conditions or reality.
We have several apartments at local and expat and the reality is max 7% last year which I guess will be the peak of tourism. no matter how you market, voids are unavoidable, fees are fees and commisions are commisions.
...and sales agents always talk up the market no matter what the conditions or reality.
tangobob
Registered
- Joined
- May 26, 2007
- Messages
- 1,230
- Likes
- 254
I think those who talk up the ammount of property on the market ought to look more closely.
My experience of the market here is that most of the properties for sale are long gone, and are only kept on the net or in inmobilarios windows mearly for window dressing.
When I was looking last year, the properties that were for sale, were either very undesirable or not due for finishing for at least twelve months.
Anything that was either ready or desirable was snapped up by locals before I had a chance.
My experience of the market here is that most of the properties for sale are long gone, and are only kept on the net or in inmobilarios windows mearly for window dressing.
When I was looking last year, the properties that were for sale, were either very undesirable or not due for finishing for at least twelve months.
Anything that was either ready or desirable was snapped up by locals before I had a chance.
I think we can all agree on one thing, there are two schools of thought.
The Nikad/FF belief that rental properties can't earn more than 7% and that property values will be dropping. And the SS thought that many rental properties exist throughout the country, with a 10% or more return on investment, while the property continues to appreciate each year.
FF, my Realtor in California has not been talking up the market. We have had a house for sale there for awhile, and her email this weekend basicly said, "the s t has hit the fan, and don't plan on selling it anytime soon".
The Nikad/FF belief that rental properties can't earn more than 7% and that property values will be dropping. And the SS thought that many rental properties exist throughout the country, with a 10% or more return on investment, while the property continues to appreciate each year.
FF, my Realtor in California has not been talking up the market. We have had a house for sale there for awhile, and her email this weekend basicly said, "the s t has hit the fan, and don't plan on selling it anytime soon".
Soulskier, I have 3 friends that sold their homes at "realistic" market prices in Southern California and all sold in under a week and now they each have moved in to a much bigger home with better new schools (private) with prices that are now more affordable to them than it was a year or so ago.
It always helps to keep "some" cash money handy for a once in a lifetime investment and opportunity like this - be it anywhere in the world.
And I found out that the US dollar gives Argentinians a safe haven for their peso, even if it is just for short term. Even architects, builders and contractors want to do business in US Dollars. But it is good to know that the 3:1 still holds at this time.
It always helps to keep "some" cash money handy for a once in a lifetime investment and opportunity like this - be it anywhere in the world.
And I found out that the US dollar gives Argentinians a safe haven for their peso, even if it is just for short term. Even architects, builders and contractors want to do business in US Dollars. But it is good to know that the 3:1 still holds at this time.
The fundamentals for BsAs real estate are negative - at least for any investors who want to rent out their apartments. Why? Because the rental income depends on external demand - tourists from EU and North America. Who will rent your apartments when Europe and USA is in deep recession?
If it does not look too bad now, just wait a few months -- the European tourists are now re-thinking their vacation plans - many are cancelling their vacations in Spain, so why would they spend more money to go to Argentina? The same for Americans - less money will be spent on vacations and go towards more basic things instead.
If it does not look too bad now, just wait a few months -- the European tourists are now re-thinking their vacation plans - many are cancelling their vacations in Spain, so why would they spend more money to go to Argentina? The same for Americans - less money will be spent on vacations and go towards more basic things instead.
nikad
Registered
- Joined
- Aug 10, 2006
- Messages
- 4,840
- Likes
- 4,432
Ries
Registered
- Joined
- Mar 18, 2008
- Messages
- 3,381
- Likes
- 4,470
I am not convinced that NOBODY will want to go to Buenos Aires.
Current airfare to Barcelona is about the same, from Seattle to Barcelona, as it is from Seattle to Buenos Aires.
Apartment rental, one week, Barcelona- $1200 Euros to $2000 Euros.
Buenos Aires, similar apartment- $400 to $1000 DOLLARS.
Then, you have meals- go to the most expensive restaurants in Buenos Aires, and try to spend what an average meal costs these days in Spain.
Subte in Barcelona- 1.30 Euros. BsAs- .30 US.
And on down the line. You can spend in a day, just wandering around, in Barcelona, what it costs for 3 days in BsAs.
I rent my apartment in Buenos Aires myself, strictly to friends. And I find no shortage of americans who want to go, and are amazed at how much cheaper it is than Europe.
With global economic hard times, everything will be cheaper, and Argentina will still be a LOT cheaper than Europe.
I have no doubt that plenty of americans will still travel to Argentina.
Will there be so many that dollars will be filling the streets ankle deep?
Of course not.
But Buenos Aires remains a bargain, in worldwide terms, for the type of city it is.
And even if airfares get so high that we have to take a boat, Americans will still travel there.
Current airfare to Barcelona is about the same, from Seattle to Barcelona, as it is from Seattle to Buenos Aires.
Apartment rental, one week, Barcelona- $1200 Euros to $2000 Euros.
Buenos Aires, similar apartment- $400 to $1000 DOLLARS.
Then, you have meals- go to the most expensive restaurants in Buenos Aires, and try to spend what an average meal costs these days in Spain.
Subte in Barcelona- 1.30 Euros. BsAs- .30 US.
And on down the line. You can spend in a day, just wandering around, in Barcelona, what it costs for 3 days in BsAs.
I rent my apartment in Buenos Aires myself, strictly to friends. And I find no shortage of americans who want to go, and are amazed at how much cheaper it is than Europe.
With global economic hard times, everything will be cheaper, and Argentina will still be a LOT cheaper than Europe.
I have no doubt that plenty of americans will still travel to Argentina.
Will there be so many that dollars will be filling the streets ankle deep?
Of course not.
But Buenos Aires remains a bargain, in worldwide terms, for the type of city it is.
And even if airfares get so high that we have to take a boat, Americans will still travel there.
