expensive apts ?

[stevie]

Hi, My names Steve and I am new of interest but not there yet . I come from a town in which my 2 br condo in a drive by neighborhood can sell for $500,000. Yet, I hear folks refer to the market in BA as high or that they should have bought back then. Are, they referring to 2001 to buy or in general ? Based on my research around the world BA seems el perfecto to me. Am I missing something ? Isnt the apartments in Palermo and Recoleta for sale in the immaculate buildings listed on the net at $100,000 to 150,000 a bargain there as well or am I just , well stupid. I'll take my answer off the air. Thanks

 

[Bairesgirl]

Steve, property prices in Buenos Aires are considerably lower than most cities in the northern hemisphere.
After the 2001 crisis the prices crashed and the appartment you refer to in you post have cost you 70,000 or 80,000 dollars.
They are still considerably cheaper than in other countries.
The only problem I see for those selling all off and purchasing heres is getting back into the Us property market if they desire to do so in a few years time, as prices will be rising there also....

 

[nikad]

Steve, property prices in Buenos Aires are considerably lower than most cities in the northern hemisphere.
After the 2001 crisis the prices crashed and the appartment you refer to in you post have cost you 70,000 or 80,000 dollars.
They are still considerably cheaper than in other countries.
The only problem I see for those selling all off and purchasing heres is getting back into the Us property market if they desire to do so in a few years time, as prices will be rising there also....

I believe the real estate business has cycles everywhere, and in the US seems to be reaching the curve where prices should start to go down in the next year or so. Still if you buy something here for 100k, you can invest the rest of the money in other assest in the US and keep or increase your capital.V

 

[nikad]

I have never (yet) heard of a foreigner selling their place here and taking their cash out of the country.
That would be interesting to hear about...anyone?

Me neither, but it shouldn´t be a problem, why do you think it would be?V

 

[nikad]

I do not know if there would be any problems at all.
I would just like to hear some firsthand accounts of their experience.
Taking money into a country is easy - getting it out of a country is usually difficult and prolonged by the tax bureaucrats - I have experienced this in China and Spain.

Well, I bet there is some crazy papaerstuff in the middle for sure, I really haven´t heard of any expats selling their properties and taking the money out of the country, so it would be interesting to know more about there experiences. It would be inconstitutional to do anything to retain legitimate private funds iimo.V

 

[bf4]

There wouldn't be any problem as far as you've complied with the regulations of selling in Argentina:
A) Paying due taxes most known Impuestos a los sellos (this is payable by every argentine citizen when you buy or sell)-It would be sthg like property taxes in the USA. Here they are fixed it's sthg. like 3% of the value of the property. The buyer takes a portion and the seller the other. In province it's much worse (higher)

B) Then there are many issues of the kind I bought for 10 and sold at 40, and I am here in doubt but would be inclined for the possitive that you will be taxed on the income gained, or call it capital appreciation (I don't know if this kicks in when you are in the businesss or if it applies to everybody-Double check)
C) If you already had a house (which accountants call sthg. like primera vievienda) and say you buy another one just for rent-not having sold the first one, then you will be taxed once again here
Whatever I have just said you should double check it with an accountant which I AM NOT just take my words merely INDICATIVE SINCE I COULD BE 'GUITARREANDO" and I'm only remembering the past transactions I went through. I forgot to add escribano's and agencies''fees.
Seek advice before entering into any binding contract, even for the reservation (mind you it should be done in check and written to the name of the agency not the seller) and DON'T EVER LEAVE CASH.
my second piece of advice try to go directly to escritura, just in case, the boleto the compraventa is a shady area, whatever happens to the seller (if he is let's say embargado) and you''ll be in hell heading to Tribunales. Yes, many of you might be thinking this happens once in 1,000,0000 but I'd rather be on the safe side.

 

[stevie]

Thank You all for the responses . That type of support seems to be lacking lately up North. I think my original question should have been worded that I am considering keeping my place here and buying an apt there and keeping both if financially possible with the intent on remaining one place or another at some point based on my experience over say 2 years if possible. Thank You again and Happy New Year !