BA Real Estate market to take a dive before the end of the year.

FrankPintor

Registered
We did pretty much the same, rented a duplex flat in Palermo with 3 bedrooms, 2 living rooms, a sun room and a private rooftop terrace so we don’t care about any lockdown for 30% less than we were paying in Recoleta. There are deals to be done, rental prices are much lower now. Just to give you an idea, in 2018 I rented a duplex 1.5 bedroom flat in Recoleta for $2500 per month (Airbnb was also involved), the same apartment is now on offer for $800 / month.
 

aeye

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Had a similar experience with a penthouse in Palermo Soho, but how much of this is due to airbnb vs going private party? Not only the 30% airbnb fee, but also just gringo pricing generally. My place was going for $3000+/mo on airbnb, but as of Dec 2020 I got it for $1200/mo direct with owner . Not sure what the pre-quarantine price would've been private party, much pre-quarantine + pre-crisis price: both would be good to know...

We did pretty much the same, rented a duplex flat in Palermo with 3 bedrooms, 2 living rooms, a sun room and a private rooftop terrace so we don’t care about any lockdown for 30% less than we were paying in Recoleta. There are deals to be done, rental prices are much lower now. Just to give you an idea, in 2018 I rented a duplex 1.5 bedroom flat in Recoleta for $2500 per month (Airbnb was also involved), the same apartment is now on offer for $800 / month.
 

FrankPintor

Registered
Had a similar experience with a penthouse in Palermo Soho, but how much of this is due to airbnb vs going private party? Not only the 30% airbnb fee, but also just gringo pricing generally. My place was going for $3000+/mo on airbnb, but as of Dec 2020 I got it for $1200/mo direct with owner . Not sure what the pre-quarantine price would've been private party, much pre-quarantine + pre-crisis price: both would be good to know...
Good observations, in my experience the 30% Airbnb fee is correct, they claim to charge 12% but it's untrue. After we left the place in Recoleta we moved to a 2-bedroom apartment in Canitas, for $2000 per month direct to the owner. There was an agency involved, and I don't recommend them, but that's how things were in 2019. The apartment in Recoleta was advertised locally at $1800 per month at that point. Since then things have only been getting better for renting for expats.
 

Ceviche

Registered
Anyone who has a serious property is a world traveler and knows the difference between USD and Pesos. no serious property is Avbl for rentin in pesos these days.

But obviously for middle class property, peso renting rocks.
 

garryl

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US dollar is in serious trouble, the way US gov is printing money will cause dollar to crash. 1.9 trillion aid package is crazy, a lot of the them will be wasted, donated to churches and people do not need aid.
 

DomoDomo

Registered
US dollar is in serious trouble, the way US gov is printing money will cause dollar to crash. 1.9 trillion aid package is crazy, a lot of the them will be wasted, donated to churches and people do not need aid.
Totally agree, Interesting interview with Luke Gromen on January 14 Macro Voices podcast - talks about how the dollars reserve currency status has hallowed out the US manufacturing base. And with foreigners (China) curbing their US treasury purchases since 3Q 2014 there is trouble ahead for the US dollar.
 

dilmah

Registered
Anyone who has a serious property is a world traveler and knows the difference between USD and Pesos
it has nothing to do with owners of property.
It's about purchase power of target renters.

Prices always depend on amount of money buyers are willing and able to part with;
Renters who earn income in peso cannot just pay the same amount of rent in USD as peso devalues. They don't have money for this.
 

garryl

Registered
I know a few small biz owners in CA, their business is not affected by COVID like insurance and Heating company, actually the AC guy
has more business due to the fact that people work at home. They each collected PPP twice, total between 250k -300k, enough to pay off their mortgagers. Many of the small biz owners are financial savvy, they throw it into the stock market. Churches received millions in PPP aid too, it is ridiculous. I think the republican's proposal of smaller aid is much better, give the money to the right people who need help. With the vaccine coming so fast. there is no need to throw 1.9 trillion out, there will be a huge consequence to pay, I do not know how, but it will come at the expense of Americans.
 
C

cheapaschips

Guest
I know a few small biz owners in CA, their business is not affected by COVID like insurance and Heating company, actually the AC guy
has more business due to the fact that people work at home. They each collected PPP twice, total between 250k -300k, enough to pay off their mortgagers. Many of the small biz owners are financial savvy, they throw it into the stock market. Churches received millions in PPP aid too, it is ridiculous. I think the republican's proposal of smaller aid is much better, give the money to the right people who need help. With the vaccine coming so fast. there is no need to throw 1.9 trillion out, there will be a huge consequence to pay, I do not know how, but it will come at the expense of Americans.
Did they each have 2 businesses and get the first PPP for both of them? You can't collect PPP twice for the same business unless you had at least a 25% drop in revenue from 2019 to 2020 - that's the only way to get the second PPP loan (you said their businesses were not affected by COVID, so I assume that they couldn't get the 2nd PPP loan)
 

Dougie

Registered
I know a few small biz owners in CA, their business is not affected by COVID like insurance and Heating company, actually the AC guy
has more business due to the fact that people work at home. They each collected PPP twice, total between 250k -300k, enough to pay off their mortgagers. Many of the small biz owners are financial savvy, they throw it into the stock market. Churches received millions in PPP aid too, it is ridiculous. I think the republican's proposal of smaller aid is much better, give the money to the right people who need help. With the vaccine coming so fast. there is no need to throw 1.9 trillion out, there will be a huge consequence to pay, I do not know how, but it will come at the expense of Americans.
Yup... a lot of businesses that didn't need it acted unethically and took the loan. It was suppose to be for businesses affected by the covid economy. They should demand payback from those that fraudulently applied like the AC guy you know.
 
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