How Do Wealthy Expats Live In Argentina

[mini]

My opinion is that with the kind of budgets you are talking about you would be wise to be discreet and I don't think San Telmo is not the place for someone with your kind of money/spending.

I think you would be better off in Palmero Viejo (Soho) or Las Canitas. I think you'd like it there if you like San Telmo & it's safer.

In fact, there was a lovely boutique hotel near San Telmo not too long ago who have in fact MOVED to Palermo.
http://www.casa-monserrat.com/ is now Baucis Palermo.

 

[Stanexpat]

By all accounts I'm crazy, but I really like San Telmo. I talked about this with my daughter today who visited with me and she agreed. We liked the restaurants, the architecture, the cobblestone streets. It feels like NY's Greenwich Village to us. And a house there seems a possibility as opposed to an apartment. Recoleta was nice, kind of BA's upper east side, and it's sounding like the safe bet, but there is a draw to ST. Opinions?

Also on this trip we stayed at an inn in Salvador Brizil. This is the kind of thing we have in mind:

http://www.casadoamarelindo.com/

Sorry to remain skeptical but in one post on another thread you state your company is well established in S.A. For someone who should therefor really know their way around S.A. you seem to be asking very basic questions. Also any serious business person I know who would be considering making what sounds like a very large investment wouldn't be discussing it on a public forum like this one.

 

[syngirl]

“If you ask some Argentines, actually quite a scary percentage, they will plain tell you that it was all better under the Dictatorship, as at least then there wasn't crime (this is ridiculous reasoning, but I've heard it out of the mouths of many of the older generation).”

Maybe the also like to see the return of people disappearing again. I think this is very sad and narrow way of thinking to solve problems. Bring back dictatorships.

Bill

I know! I couldn't believe my ears the first time I heard the mother of my boyfriend's aunt say this -- she was basically saying she'd rather give up all her powers and have someone control her life. Then again, her husband was a chauffeur for Peron (he's about 20 years her senior, in his 80s now), so maybe their life was better. Sons and daughters of military familes are usually the ones wishing it would come back!

 

[citygirl]

I don't have any clue who the OP is nor do I know where she is from. However, assuming she is from a largish city in the US, 500K for a house, huge apt is a bargain. That wouldn't buy you a 1 BR apt in the expensive cities in the US.

I am assuming OP is aware that mortgages aren't common here & that 500K would be in cash.

OP - that kind of budget would buy you a very good quality of life here & yes, you certainly can live very well on that kind of money. Were you factoring 3 people in the 2K USD a month for eating, going out, etc? If so - that would be still great. If you are just looking at it for you, that would be exceptionally high, even if you went out every night.

 

[Celia]

I urge you to live here for 6 months before making a commitment. I really don't think you will live the lifestyle you want here. I've had to downsize a lot since moving here.

 

[jp]

Stan - either she'd a figment of someone's imagination, or she's a real person asking for advice. I don't really see the point of the first assumption. Just don't bother responding if you don't think she exists.

JB - I'd avoid San Telmo. Its very pretty during the day but its not somewhere you necessarily want to live. Its rough in parts, borders even rougher areas and its generally pretty dirty. Check it out at night, bags of rubbish strewn everywhere and more than a few unsavoury types lurking about.

Palermo is a lot cleaner and safer and still has a lot of the same charm as San Telmo. Las Canitas and parts of Belgrano are cleaner and safer again, but lack some of the charm, more new builds and luxury developments. You also get parks and green space if you go towards Palermo, and quick transport links in and out the city.

 

[syngirl]

jb5 -- This is a story that we've seen many times before, "Oh I was in BA for one week [2 weeks, one month, etc] and fell in love with the place and I want to move my entire family and my business down there". Hence the sarcasm on the board!

Everyone falls in love with BA after 2 weeks. It's an entirely different question to be in love with it after 6 months, 1 year, 2 years, 4 years etc etc.

Take 6 months down here, rent furnished in a few different areas, investigate biz options, and then see. About 50% of the expats I've encountered don't make it to a year, and the rest are gone before 2 years are up.

There's a lot of bueraucratic headache in opening a business here. There's also the economic crisis that as you say, may drive some Americans down here permanently, but there's not necessarily going to be a lot of tourists to say in your boutique hotel that you want to open up.

I really think you need to come down for 6 months and give it a try in a furnished place before you commit.

 

[Stanexpat]

Stan - either she'd a figment of someone's imagination, or she's a real person asking for advice. I don't really see the point of the first assumption. Just don't bother responding if you don't think she exists.

Ok, that's fair but people should be cautious. If she isn't real what the purpose of who is doing this? Could be someone looking for potential marks for some kind of scam to part people from their money.

 

[jb5]

Thanks for all the help. I get the message about San Telmo. It's unfortunate. We never got to Palermo viejo. What about puerto Madero?

I have lived all over the world, and mostlty in expensive cities, so indeed, this is a bargain. I do realize cash is needed to buy real estate. I still have a hard time with the visual of actually bring several hundred thousand is cash to the closing!

It would just be me most of the time with my college aged kids joining during breaks. I would also keep my home in the US.

But I need an adventure and this sounds worth the gamble.

Stan, I do understand your concerns. Feel free to ask the moderator for my IP info, and moderator, feel free to give it to him.

 

[steveinbsas]

I still have a hard time with the visual of actually bring several hundred thousand is cash to the closing!

Don't worry about that. You wire the funds here and you choose where the closing takes place. Of course the bank is best and you won't be the one leaving with the cash. (Not all sellers walk out into the street with the money, but some do, and some have been robbed.)

I'll explain it all when you return.

Puerto Madero is certainly worth a look, along with the other areas that have been suggested.