Too bad for Argentina real estate market, this only hurts people.But how many of those countries ever had a 40% (if not higher) inflation rate of their national currency while real estate was sold in another currency which held its value ?
As Perry has pointed out, due to inflation, the value of a property in pesos could increase dramatically in just a couple years, but not in dollars.
As a result, when selling a property for the same price as buying it (in dollars), there will be a capital gains tax on the selling price without any capital gain!!!!
In my opinion, anyone who buys property in Argentina now should do so with no intention of selling it in the future.
PS: As I wrote said about ten years ago, "Buy property to satisfy your need, not your greed."
PS2: And as I also wrote about ten years ago (quoting Glenn Beck). "Buy land where you can grow your own food."