Is this the right time to buy a property in Argentina?

[JWB]

Before I reply to the statements in your post (from my home in Provincia Bs. As.) I want to "confess" that I lived in Utah for 15 years.



How many of the 2987 square feet are in the basement? Is it one of those "dang" mother-in-law apartments?




I haven't shopped for real estate in CF since May of 2009, but if these figures are accurate, it really would be insane to buy there now. I bought my 1000 square ft PH in Nunez in 2009 for close to $100K and sold it less than a year later for nearly the same amount. (I accepted the first offer so I could buy the house I'm in now).


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So is Provincia Bs. As. (at least where I am).



Here too (mas o menos). My four bedroom house on a .60 acre lot with hundreds of trees for $158K: (click on link below)

And how much are your property taxes and utility bills in Utah?

My annual property taxes are $520 pesos and my electric bill is about $100 pesos per month. I only have to heat my house three months of the year and pay about $2000 pesos annually for gas envasido (which I also use for cooking and bathing).

Basement is only about 350. unfinished with framing for a playroom, guest room and bathroom. 3 bedrooms on the 2rd floor and master suite on the 2.5 floor (slightly raised).

Prices are accurate...was looking online today for properties in Argentina (since I am planning on selling one of mine).

Taxes for this house are 1350 per year. Utilities, not sure yet but that depends on our usage, etc. And since we will only spend 1/2 of the year there...it will be lower than average.

IF I were to suggest buying any property in Argentina, it would be in the country/farmland. great investment still and will be much more valuable soon.

 

[TheBlackHand]

Buying an apartment in Capital Federal at these current prices is not an investment. But if you want to buy just to live there it's not a horrible idea. After looking at the current prices, I have decided to sell and possibly buy in the Province, ie Pilar Tigre etc. I am going to rent in the Capital until there is a readjustment in the market. The economy just cant sustain $ 4000 - $ 5000 usd per sq meter prices in Belgrano. That's just insane. At the same time, I can rent a fully furnished mid range 1 bedroom apartment in Las Canitas for around $ 1200 usd a month.

 

[French jurist]

Buying an apartment in Capital Federal at these current prices is not an investment. But if you want to buy just to live there it's not a horrible idea. After looking at the current prices, I have decided to sell and possibly buy in the Province, ie Pilar Tigre etc. I am going to rent in the Capital until there is a readjustment in the market. The economy just cant sustain $ 4000 - $ 5000 usd per sq meter prices in Belgrano. That's just insane. At the same time, I can rent a fully furnished mid range 1 bedroom apartment in Las Canitas for around $ 1200 usd a month.

Yop, it's possible to find real good deals around Pilar (would even suggest El Cazador/Campana but that's quite distant... Lovely though with the rio nearby -+ a big dumpster unfortunately that might disappear some day since more and more gated communities are being built around).

Many properties around here sell very slowly.

I have my eyes on a house -with a bit more than 2.000 m2 of land- for which the owners don't know what to do (inhabited since a few years, in a gated community, starts to deteriore) -> If you come with a good deal in hand to those owners (who are not even trying to sell it), chances are you might be soon a lucky owner.

But that implies living around (renting) for two/three years to know & get known.

 

[steveinbsas]

IF I were to suggest buying any property in Argentina, it would be in the country/farmland. great investment still and will be much more valuable soon.

I couldn't agree more.

 

[marksoc]

Who is paying more than 3000 USD per meter? Are you all crazy? If it is not Puerto Madero, and you are paying this, even in most places in Recoleta, you are doing it wrong. Btw, who told you (general) that you could buy the best apartment in the best area of one of the biggest cities in the world? Entitlement much?

 

[perry]

The prices quoted per square metre by Blackhand are not market prices . You can find excellent properties in great locations for US $ 2000 a metre.

I have a few properties that I can recommend that are great buys. The first one a one bedroom apartment on Carlos Calvo and Paseo Colon . This property has views frente and contrafrente . It is very bright and cheerful . The location is handy to all services and is only three blocks to Plaza Dorrego and 5 blocks to Puerto Madero. The asking price is US $ 79,000

http://remax.com.ar/181059-100

I have a brand new three bedroom house ( garage included) in a excellent location of Palermo Hollywood with 340 metres in total of these 270 are covered . The final price for this superb property located on Cabrera and Fitzroy is US $ 400,000 less than US $ 1400 a metre in a neighbourhood where properties can fetch over US $ 3000 a metre.
http://remax.com.ar/181059-64


In Belgrano I also have a have a beautiful three bedroom house ( colonial style ) located in the peaceful location of Virrey del Pino and Migueletes. The condition is impeccable and it offers a beautiful andaluz patio . Each bedroom has its own bathroom. Priced to sell at just over US $ 350,000 US $ 2000 a metre
http://remax.com.ar/181059-80

If people are paying US 3000 a metre in Belgrano and Palermo they are in general paying 30 % above market values . The only exception is river view properties located in the chic parts of Libertador or some Torres de Categoria like the Mirabilla and Quartier Boulevarde located in Palermo Hollywood

 

[TheBlackHand]

Actually they are market prices for brand new buildings in the Las Canitas and Palermo Nuevo area. What really threw me off is the fact that these are PRE CONSTRUCION prices with hand over dates in late 2012 early 2013. None of the projects below are high rise towers. They are all 10-12 story buildings with typical amenities. They are selling 29 sq meter studios for 120,000 to 150,000 usd depending on the " view ". lol. Just call Interwin and ask them what the minimum pero sq meter price in a new building is in Las Canitas. I did, they said $ 3500 usd AND UP. I laughed when I saw the price lists. At the same time, I can rent for $ 1200 usd a month in the same neighborhood. I know what i'll be doing once i've sold. Nice apartments btw, although none of them are of the same category im talking about or in the same neighborhoods.

http://www.aestrenar.com.ar/ficha.php?prycod=212&pagina=detalle

http://www.aestrenar.com.ar/ficha.php?prycod=229&pagina=detalle

http://www.aestrenar.com.ar/ficha.php?prycod=352&pagina=detalle

http://www.aestrenar.com.ar/ficha.php?prycod=345&pagina=detalle

The prices quoted per square metre by Blackhand are not market prices . You can find excellent properties in great locations for US $ 2000 a metre.

 

[perry]

Actually they are market prices for brand new buildings in the Las Canitas and Palermo Nuevo area. What really threw me off is the fact that these are PRE CONSTRUCION prices with hand over dates in late 2012 early 2013. None of the projects below are high rise towers. They are all 10-12 story buildings with typical amenities. They are selling 29 sq meter studios for 120,000 to 150,000 usd depending on the " view ". lol. Just call Interwin and ask them what the minimum pero sq meter price in a new building is in Las Canitas. I did, they said $ 3500 usd AND UP. I laughed when I saw the price lists. At the same time, I can rent for $ 1200 usd a month in the same neighborhood. I know what i'll be doing once i've sold. Nice apartments btw, although none of them are of the same category im talking about or in the same neighborhoods.

http://www.aestrenar.com.ar/ficha.php?prycod=212&pagina=detalle

http://www.aestrenar.com.ar/ficha.php?prycod=229&pagina=detalle

http://www.aestrenar.com.ar/ficha.php?prycod=352&pagina=detalle

http://www.aestrenar.com.ar/ficha.php?prycod=345&pagina=detalle

Interwin are notorious in Buenos Aires for espulative sales .

New buildings pre construction can be found in excellent locations in Palermo Hollywood for US $ 2000 a metre. I have a project myself being constructed by one of Argentinas best architect ( Home Hotel ) for US $ 2000 per metre fideicomiso. Also you can pay the quotas in pesos . Click link below

http://remax.com.ar/181059-74

 

[TheBlackHand]

I'm looking into Pilar. I have seen very nice houses in some very nice gated communities for roughly $ 1000 usd per sq meter. It's a 40 minute commute to the Capital so you would need to buy a car but the quality of life is worth it. Prices in the Capital will eventually adjust themselves. Once they do, I'll take a second look.

Yop, it's possible to find real good deals around Pilar (would even suggest El Cazador/Campana but that's quite distant... Lovely though with the rio nearby -+ a big dumpster unfortunately that might disappear some day since more and more gated communities are being built around).

Many properties around here sell very slowly.

I have my eyes on a house -with a bit more than 2.000 m2 of land- for which the owners don't know what to do (inhabited since a few years, in a gated community, starts to deteriore) -> If you come with a good deal in hand to those owners (who are not even trying to sell it), chances are you might be soon a lucky owner.

But that implies living around (renting) for two/three years to know & get known.

 

[steveinbsas]

Good post Steve and fully agree that to many people are speculating on the dollar and they can soon be waking up without pants. Keeping fiat currencies for an investment is a huge risk . Buy gold, land, and a nice antique property in Buenos Aires and you will be minimising your risks .

Well, Perry it looks like hedge funders agree with you, especially when it comes to buying proudctive land and not relying on the future strength of the dollar.

http://articles.businessinsider.com...075570_1_housing-pain-farmland-housing-market