is this the right time to buy a flat in Argentina?

[Thereandbackagain]

No, time to wait. People still try to get what they used to get when everything was running fine. Once the economy significantly slows down, and it will do so within the next 3 years, and desperation starts to show off, prices will fall drastically.

Spain indeed is a very good place to buy ATM.

 

[solerboy]

The fundamental rule of property investment is buy close to where you live or visit off and on. Not in some distant land where you go once in 2-3 yrs!

Thats true, Amsterdam is a lot closer to Spain, thats for sure,

 

[earlyretirement]

Well, buying still does make sense for many locals that have tons of cash "under their mattress". (Literally). For these people, they don't feel safe with cash in their homes and they aren't earning anything on it. With them, it's not even a matter of what's going to produce the highest ROI. It's about capital preservation...not capital appreciation or cash flow.

But still locals can get decent cash flow just renting out on longer 2 year leases.

Also, there are many people in and out of Buenos Aires for work constantly that just want their own place vs. paying higher rates for high end hotels or high end apartment rentals. And it's worth it to them to have the same place each time they come into Buenos Aires.

For example, I just got an offer on my apartment in Palermo Soho from a lady from Uruguay that comes into down every month for several weeks on business. In this type of situation it makes sense as well.

But if you're just coming not too often to Buenos Aires, I'd hold off for now and really wait until next year to see if there are any more restrictions or controls.

I don't see property prices going up the next year or so. I see them going down. Not saying they will collapse because I don't believe they will. But there is a much higher chance properties will get cheaper in this kind of restrictive environment vs. go up.

 

[citygirl]

The bigger issue is the why behind buying. If it's for an investment, no way, no how. Because if/when you sell, you aren't getting your money out of the country and at least a big part of it will be in pesos. And what will you do with those?

If you were based here, I don't think it's a bad time (although I think it will just keep getting better). We're looking at property near us right now. But as I've said earlier, due to the SO's business, we're not looking at it as something to sell in a few years, if ever.

 

[steveinbsas]

My agent called me last week and told me he had a reserva for the PH he sold for me two years ago. The current sales price is almost 35% more than the price I accepted two years ago, well over a year after "expert" members here were predicting lower real estate prices by the end of the year (2009).

 

[cbphoto]

So Steven.. with your 1 example you are trying to convince the OP that It is still a good time to invest in real-estate....?
So you think their is no truth in:
1. Real-estate prices are very likely to crash in the coming months/year.
2. Getting your money $'s or pesos out of the country in the near future..might become more difficult or impossible.
3. Buying in $'s vs. Pesos will not/has not effected the market in any way..
4. AND you think the price of real-estate is going UP in BsAs..

???

 

[Iznogud]

Bricks are the only sure investments we have. You can bet on a seasonal slowdown but not in prices going significantly down. Otherwise you might sell as well since the end is near.

Our Beloved Leader and her accomplices are all investing in real estate.

IMHO

Methinks cbphoto is trying to read a lot of stuff into Steve's answer. None of it was part of Steve's post. Neither do I suggest none of that stuff.

 

[cbphoto]

If you plan on not selling the property you buy now in the next decade... for sure better than keeping your pesos in a bank or under your bed.. other wise
Your advice:
Iz no gud

 

[cbphoto]

As far as the OP goes... If your money is not already in Argentina..
Argentina is one of if not the last place I would consider investing in at this time.

 

[Canick]

my belief is that we are just at the beginning stages of the next crisis. most investors are unsure how long the current administrations actions will last(USD restrictions) and as such the property market is still in more of a holding pattern.

I don't think now is the time to buy and deals are not yet to be had. My guess/opinion is that in the next few years property values will decrease substantially (in USD terms).

I would see how the market is in 18 months, but as citygirl mentioned, it all depends on why you want to buy. if it is just an investment, can you hold it, if need be, for 5-8 years without having to sell? gone are the days where you flip properties quickly.