Expropriation of YPF - What's next?

[sergio]

With the expropriation of YPF some expats are getting worried about what is next. Will foreign owned RESIDENTIAL property be on the hit list before long?

 

[Sleuth]

What expats are getting worried? That's a pretty big leap from national gas production to residential real estate. Unless these expats are the CEOs of international firms, I think they'll be ok.

 

[citygirl]

I can't envision any scenario where that happens. YPF will be enough to chew on for a while, if I were managing another large int'l company, I'd be circling my wagons but the average expat on the street probably has nothing to worry about (except is s/he wants to sell the property and get money out of the country).

 

[nicoenarg]

With the expropriation of YPF some expats are getting worried about what is next. Will foreign owned RESIDENTIAL property be on the hit list before long?

I think YPF was nationalized because CFK thought it was THE golden goose they needed to get their hands on. Problem with that is that this golden goose is basically DOA. They need to revive it and that it going to take a whole lotta money that Argentina simply does not have.

Repsol is going to press Argentina to give them something to the tune of $10 billion US dollars. I don't think that's going to go anywhere because like Chavez's government, we've got barbarians ruling Argentina right now.

So to answer your question, I think property owned by individual investors will not be touched. In fact, I don't even think its on their radars. They've just shot themselves on both their feet with this idiotic YPF move. They won't have ANYTHING on their radars for quite some time, other than maybe nationalizing some other perceived golden geese.

And I am sure there's plenty of those to go after in Argentina.

 

[TrevorCito]

With the expropriation of YPF some expats are getting worried about what is next. Will foreign owned RESIDENTIAL property be on the hit list before long?

Have you seen the government advertisement on free to air TV requiring that all expatriats register the land they own with the government. I didn't get the details but the message was Argentina for argentines.

I found the tone concerning.

 

[willwright]

They don't need to expropriate the problem expat properties, they could restrict temporary rentals or make it very difficult for people who want to sell to get their money out of the country. Hey, aren't they working on that already? The effect will be the same, it will drive all these problem causing foreigners (and their money) away.

 

[KarlaBA]

I can assure you that the gvmt does not care about the small number of housing units owned by foreigners in Argentina. You can rest easy that you are not on the radar. However, you had better be concerned if you own productive assets such as farmland. Those have a very real chance of being nationalized. All you homeowners has better hope that when the foreigner owned lands are repatriated, that the bill isn't vaguely worded enough that it also applies to housing stock.

 

[sleslie23]

I agree that it is unlikely that the government would seize foreign-owned assets like housing, but ANYTHING is possible, especially with this government. If the nationalist frenzy gets going in full swing it could certainly happen.

 

[glasgowjohn]

Metrogas will be next - company is already in a mess and almost bankrupt.

YPF has quiet a large shareholding in the company, I think.

 

[fifs2]

Metrogas will be next - company is already in a mess and almost bankrupt.

YPF has quiet a large shareholding in the company, I think.

As someone with a long standing Metrogas grudge Im forced to say nationalization may actually improve that poor excuse of a service company..