Foreigners with property in BA

[Paul_NL]

I have been living in BA for the last 2 years and I kept hearing that property in BA is cheap, that it's good to invest in real estate and that's easy to rent out property.
I have never believed this because I have been calculating a lot and there is no way it's a good investment(dirty money is different offcourse) and even though I do many foreigners who live in BA very few actually buy property
How do you look at it?

 

[soulskier]

Where else are you going to find a sweet little apartment in a high end part of a world class city for under a 100K? We have had our apartment on the short term rental market and had it rented about 85% of the time. So, yes opurtunites most certainly exist, just do your homework!

 

[Elpanada]

Everything is ofcourse about ROI return on investment and while I myself am interested in purchasing a property in Buenos Aires I do not think that I will spend a bundle to have it all renovated and decorated by an interior designer or go into the business of renting it out. Renting out a property can be risky business if you don't take care of it from A-X yourself then you may get burnt by the person you entrust and if you take care of it yourself it can be quite frustrating as well as time consuming. There are a number of factors involved and one of them is demand, people may simply one day not want to rent your place no more due to fierce competition or other reasons.I love Buenos Aires do not get me wrong but the city is far too two sides for the arguement "buy cause this is such a nice place and they're so cheap" to apply.

 

[Granadaiscool]

Where else are you going to find a sweet little apartment in a high end part of a world class city for under a 100K? We have had our apartment on the short term rental market and had it rented about 85% of the time. So, yes opurtunites most certainly exist, just do your homework!

85% during in boom period. I would like to wait for 2008 and 2009 to make that call.
I personally would put it on a banking account and spend 1250 peso without risk,
Or I would take out a loan and buy a 200.000 euro appartment in Holland and rent it out. That would make me 2000 peso a month without any risk in one of the most developed countries in the world

 

[sergio]

I think it only makes sense to buy property in Argentina if you have some personal reason for being here - married to an Argentine, for example. Otherwise buying property here or doing business involves risk that you won't experience in the US or Europe or even other parts of Latin America where foreigners are very welcome and even courted (Panama, Costa Rica for example). It's true that you can get nice apartments in Recoleta (more than $100,000 these days!) for a fraction of the prices in New York, Paris or London but you have to have a reason for being here! I hear that renting is getting harder due to competition. Inflation will eventually deter tourism, so I don't think buying property as a money making venture will be a good long term deal.

 

[Elpanada]

Costa Rica, US, Europe, Panama. Buying real estate anywhere has its risks and so does doing any other thing when it comes to cash.

 

[sergio]

Of course there can be risks however far fewer in the US and Europe. I mentioned Costa Rica and Panama because they are places that actively seek foreign investment and have substantial numbers of foreign property owners, especially American retirees. My basic point is that buying in Argentina makes more sense when there is some important reason to be here. Otherwise managing property when you are not permanently resident can be quite complicated. Also the instability of the country can be quite a problem. What happened a few years ago (banking crisis/frozen accounts/devaluation etc) could happen again in some shape or form. Rentals may be OK at the moment but the situation is likely to change. Anyone looking to buy here should do so with caution and after a lot of careful thought. I am not saying that buying is a bad idea.

 

[sheridan725]

My husband and I bought a property here about a year ago. The place was a dump, tipo PH when we got it. We did a total rennovation with an architect friend of ours and the final result is absolutely gorgeous. You can't believe that it's the same place.
We've broken just about even with the money we put into it. I look forward to many years of returning to a beautiful apartment that is so special to us. And once we're old, the plan is to sell it and ka-zam...that's part of our retirement fund. At that time I'll let you know if it was a good investment or not.

 

[Granadaiscool]

Costa Rica, US, Europe, Panama. Buying real estate anywhere has its risks and so does doing any other thing when it comes to cash.

In Holland there are no risk as long Iran don´t throws a bomb on Holland

 

[Granadaiscool]

I think it only makes sense to buy property in Argentina if you have some personal reason for being here - married to an Argentine, for example. Otherwise buying property here or doing business involves risk that you won't experience in the US or Europe or even other parts of Latin America where
foreigners are very welcome and even courted (Panama, Costa Rica for example). It's true that you can get nice apartments in Recoleta (more than $100,000 these days!) for a fraction of the prices in New York, Paris or London but you have to have a reason for being here! I hear that renting is getting harder due to competition. Inflation will eventually deter tourism, so I don't think buying property as a money making venture will be a good long term deal.

BA is not comparable to NY, Paris or London.