Looking For A Flat To Buy

[IABhutto]

I wonder if people are realistic enough to ask such first world prices in a filthy, fifth world city like BsArs. I wonder who will pay these prices, keep on dreaming!
the sooner or the later prices will drop. Therefore I'll wait, no hurries.

Come on man it is not that bad, there are good places and there are places which are bad. Like any other city in the world.

 

[shoush]

i agree! its not that bad, and you do know that you can put in a lower offer???? of course they are asking an exaggerated price, but if you got the dollars, it usually gives a big advantage in negotiating!

Come on man it is not that bad, there are good places and there are places which are bad. Like any other city in the world.

 

[PaulBee]

Yes, there are some very good places in Buenos Aires ! Some of the best neighbourhoods
in the western hemisphere are in Buenos Aires !

Come on man it is not that bad, there are good places and there are places which are bad. Like any other city in the world.

 

[PaulBee]

In these times, I don´t see how people can predict with certainty what will happen in any
spere of the economy. My impression is that Buenos Aires real estate has less down side potential
than cash from almost any country. I also recall that after the crash in 2002, real estate
prices recovered very quickly, then never looked back. It might happen even faster this time,
now that Buenos Aires is on the world´s radar map as a place to invest. However, as I say,
nothing is certain now.

 

[la_guachita]

Unless there is another corralito, I don't think the prices will drop. I got my apartment cheap but payed with my blood sweat and tears reforming it and having to become one of the members of consorcio in order to get general improvements made to the building. Dealing with contractors/workers here is a nightmare (thank God for honest, hard-working Bolivians and Paraguayans though).

When you have to be around to let them in and out, oversee the work all day (b/c otherwise they seriously get sloppy), get materials, get lunch, deal with people stealing your tools, ect. it's a big headache and time investment.

You said you are looking for a move-in ready apartment but the sweat equity of renovations come at a much higher price here than places where you can just turn over the job to someone else and trust that it will turn out alright.

 

[Ceviche]

Talking of buying apartments.

What would be a good neighborhood to buy a independent house? Not far away from the centre of capital. Would like to buy a big place, remodel it with my personal gym etc.

 

[Dublin2BuenosAires]

In these times, I don´t see how people can predict with certainty what will happen in any
spere of the economy. My impression is that Buenos Aires real estate has less down side potential
than cash from almost any country. I also recall that after the crash in 2002, real estate
prices recovered very quickly, then never looked back. It might happen even faster this time,
now that Buenos Aires is on the world´s radar map as a place to invest. However, as I say,
nothing is certain now.

Why do you have the impression Buenos Aires is on the radar for investment. Most local investment in real estate is flowing to Florida or Uruguay.

We have a 2nd property here, to be honest the rent return is so low in comparison with the value invested in the property I am currently drawn towards selling it and our home apartment and investing in something bigger but still in the city.

I couldn't face the inbound commute in the morning from the suburbs, the panamericana would take years off me.

 

[expatinowncountry]

Why do you have the impression Buenos Aires is on the radar for investment. Most local investment in real estate is flowing to Florida or Uruguay.

We have a 2nd property here, to be honest the rent return is so low in comparison with the value invested in the property I am currently drawn towards selling it and our home apartment and investing in something bigger but still in the city.

I couldn't face the inbound commute in the morning from the suburbs, the panamericana would take years off me.

While I agree with your statement (returns are very low at the moment), I understand the person mentioning BA been in the radar. This is my second time in Argentina and I have to say that the first time (before 2000) there were no many expats living here or having a second home in BA. Nor there were articles in US media talking about BA as a place for a second home. I have seen already two episodes on TV of "House Hunting International" focusing in Buenos Aires and it was not by chance. Those programs feature locations where foreigners buy like Central America, Italy, France, South of Spain, etc.

 

[Dublin2BuenosAires]

While I agree with your statement (returns are very low at the moment), I understand the person mentioning BA been in the radar. This is my second time in Argentina and I have to say that the first time (before 2000) there were no many expats living here or having a second home in BA. Nor there were articles in US media talking about BA as a place for a second home. I have seen already two episodes on TV of "House Hunting International" focusing in Buenos Aires and it was not by chance. Those programs feature locations where foreigners buy like Central America, Italy, France, South of Spain, etc.

Perhaps, I don't watch any US TV outside of the big HBO drama shows and I don't read many US newspapers so perhaps it is being marketed at the moment.

Returns are lousy indeed, I guess it makes sense if you are going to live here or are going to spend a lot of time here, but as an investment property I don't see a lot of value.

Local salaries are quite high after many years of inflation and union driven wage hikes. I can't see an enormous potential for wage growth and thus capital for investment increasing here. I can't see prices outside of the real hotspots increasing so much. In fact in the thebubblear.com (check it out folks) i was reading about the problems faced by a certain district in palermo due to spiralling rents.

If I went by the fairly standard price on a 1 bed in palermo hollywood we rent out now, it would take us upwards of 30 to 35 years to recoup the price we paid. Given the lack of activity in or difficulty of access to the mortgage market, I can't see another price burst either.

Gradual growth is more likely where properties are well built and well located.

Like I say, if i could find somewhere with a large terrace I would trade up both an sacrifice the small rental income for a bit more outdoor space.

 

[mariano-BCN]

If you think BA is a fifth world city you have never been to Africa, most Latin American or Asian countries.

sorry for you, but I lived, besides Europe, in Colombia, Nicaragua and Costa Rica. And stayed in South Africa and Thailand for a while. Not even BKK or Bogota is as filthy as BsArs and flats are not even in Durban or J'burg as expensive as in BsArs.