Good Time To Buy An Apartment?

[GS_Dirtboy]

Thanks, do you think government can order sellers to sell in pesos ? People can always do dollar deals under the table.

1. Yes they can and they will. It is a practical question especially when it comes to foreign owners. If a foreigner purchased their property before Nov 2011 they can still sell in Dollars and repatriate those Dollars back to their country legally. That option will be closed at some point.

2. Aside from creating big problems for both buyer and seller doing under-the-table deals these will become practically impossible if the Government requires all transactions to go through the Central Bank. Do you really want a title to a property that was purchased in the black?

 

[GS_Dirtboy]

Here you are confused. The big issue is the following: if you put in the papers that you sold in pesos but you have usd, it doesn t make sense to do reverse money laundry. I mean, you have a house with legal money and you get dirty money for the afip.

On the other side, you buy and you pay in usd but you didn t declared those usd because you bought them in the blue market because the seller wants usd...ups..you want the escritura en pesos.

So, I clarify: if you have usd and you are ok with doing the escritura in usd (it means the money is legal) you rule.

Bajo is correct. The money must be declared. This isn't the Wild Wild West anymore.

 

[Bajo_cero2]

And the market is freeze because real state was used to laundry black money. I m not talking about drugs money, I mean that the evation was so high that everybody used to laundry money through buying usd or real state. They closed the 2 simpliest way to laundry black money. Are they a bunch of idiots or they are genious? Everybody can have his owns answers. Please don´t express them here.

 

[thorsten]

So instead of buying real estate, the black pesos go now into blue-$ abroad...

 

[Bajo_cero2]

who knows...

 

[garryl]

I am not confused, there is nothing new about blue, black and peso here.
How much the government can control here ? how long does this government can last ?
How do you know the control is tighter and tighter ?

 

[ajoknoblauch]

Go ahead and make offers 30% off. You won't get anything (yet). There is an established market price in every neighborhood. If you are a serious buyer it would be good to know what those prices are in advance.

Whether now is a good time to buy a property or not is very subjective. Depends on how badly you need a property now, whether you are a resident, want to live in it, looking to rent it, etc.

If you are a seller now is a really good time to sell. It will only get harder. If the government decides to bankarize sales you won't be able to get Dollars for your property or be able to send Dollars out of the country legally. That's when the vultures start offering you 30% to 40% less than asking price.

"bankarize?"

 

[ajoknoblauch]

I expect that, at some point after the current government departs with its tail between its legs, the real estate market will return to "normal," with prices and payments in US dollars. I doubt Argentines will ever, or at least in my lifetime, have confidence in their own currency.

 

[garryl]

I expect that, at some point after the current government departs with its tail between its legs, the real estate market will return to "normal," with prices and payments in US dollars.

Yes, people are tired of this BS, which middle class family in BsAs is not tired of this government. The rumor on the street is that this government could not even last to the end of its term. With the inflation at 30% a year, this either has to stop or has to explode, either way it will end, law of nature.

 

[ajoknoblauch]

Yes, people are tired of this BS, which middle class family in BsAs is not tired of this government. The rumor on the street is that this government could not even last to the end of its term. With the inflation at 30% a year, this either has to stop or has to explode, either way it will end, law of nature.

I hope they do finish their term and leave quietly. Argentina needs institutional continuity.