Buying a property in Buenos Aires

[anda]

Hi, I would like to buy an apartment in Buenos Aires, but my money is abroad. I do not want to bring the money to Argentina, because of all the fees, taxes, etc. Is somebody interested in selling me property, and receiving the money in a foreign bank account? It could be a good deal if you have the intention to take money out of the country.

Hi , I live abroad and would like to sell my 65 m2 2 bedroom 2 bathroom living room flat in Palermo Hollywood in a building with Pool and parrilla.
I can receive abroad .

 

[garryl]

Buying an apt without consideration of location, style, floors, light and neighborhood, only to look in expats communities ? That's crazy. If you look to buy an expensive apt, most likely the Argentine seller has bank acc in US or Europe. But you still need to pay all the fees either way. It's more important you find the one you like, and once you buy it, you have to hold it for a long freaking time, until Macri comes back again in 20 years, then you can sell. The best way to shop for apt is to walk in the neighborhood you like and look on the internet, this can save you much more than the transfer fee.

 

[Ceviche]

buying an apartment is only feasible, if you will live in it 12 months years or even 9 months a year.

else its a waste. rents are just too cheap and no need to get involved with renting it out, bieen personal tax etc

 

[garryl]

buying an apartment is only feasible, if you will live in it 12 months years or even 9 months a year.

else its a waste. rents are just too cheap and no need to get involved with renting it out, bieen personal tax etc

rent is cheaper now ?

 

[pmacay]

I'm not in the business of renting or buying apartments so my experience is just what I've observed in living here. Rents are very low in my opinion, I live in Recoleta and you can rent a large 150 square meter apartment for less then $700 USA a month (that's paying in Pesos at the blue dollar rate). Also, if you want to buy, I agree with what other people have said, lots of Argentines have accounts in the USA, so you can do a wire transfer from your account into theirs. This is perfectly legal and safe, since you're transferring from one USA account to another USA account. Just tell your real estate agent this, that you only want to see properties that you can make such a direct USA-USA wire transfer. It may limit your choices some, but from what I've heard from friends who have purchased an apartment here, I think there are lots of properties where this would apply. Good luck!

 

[Alpinista]

Buying an apt without consideration of location, style, floors, light and neighborhood, only to look in expats communities ? That's crazy.

Totally agree

rents are just too cheap and no need to get involved with renting it out, bieen personal tax etc

Agree on this one too. If you look into this from an owner’s perspective, the return p.a. is only 1-2% maximum. And this doesnt even cover the risk that you will end with a squatter in your property. So under these circumstances it is in almost all cases better to rent

 

[Fiscal]

Rent in USD is super cheap! Why buy?

 

[garryl]

When you buy one, if you can not prove that you are in Argentina most the time, AFIP assumes you have rented it out.
There is a tax there to pay, when you are ready to sell the apt.

You need a capable accountant to help you before you get ready to sell, that means fees, taxes and endless paperwork.
After you are in contract, there will be fees and tax again. You have to love Argentina so much or have a spouse in order to buy.

 

[QuilmesSlo]

Rent in USD is super cheap! Why buy?

Absent a return to sale prices that few currently anticipate or predict, it is hard to imagine why renting isn't the only choice. Understanding that some people really don't like to be renters.

 

[Fiscal]

Absent a return to sale prices that few currently anticipate or predict, it is hard to imagine why renting isn't the only choice. Understanding that some people really don't like to be renters.

Hence my question!