Looking for some advice...

[AnitaLoos]

Hello everyone! I am in the process of buying a flat in BA (San Telmo) and while reading a few of these posts I'm wondering if I am not making a mistake ! Particularly worried about this new law on rentals I just read aboyut here in the forum... if it is voted will it unable temporary rentals?

I'd also like to see if anyone can recommend a good accountant, I would like to make sure all the taxes will be in order as I understood it is not an easy matter. If anyone can recommend an accountant that is familiar with non-residents' issues I would very much appreciate it ...

Thanks a lot!

 

[TheBigDaddy]

If you can afford it do it

If you are skint and putting the last of your money into this and will be completely screwed if it doesnt work out to plan then forget it

 

[TomAtAlki]

I agree with big daddy, and you can't be buying for a profit, you may never see that money again. Are you buying to enjoy BsAs? That's a great reason.
Nancy

 

[davonz]

If you are buying to rent, and using the rental income to cover a mortgage or need a return, i would not do it.
The tourist market is slowing, i meet alot of people (europeans) when i was in colombia and ecuador over the xmas period who had planned on staying in argentina for a month or more, and cut the time short here because it was expensive.
I have just rented a 35sqm studio in palermo (plaza qüemes) and i got 30% off asking price (which wasnt expensive). I was told by alot of people i would not be able to rent for the price i did.
I know expats who have apartments here and they are not renting like they were a year or 2 ago, even during the peak summer period, maybe only renting for 2 weeks a month if lucky.

However if you plan on living in the apartment, or dont need an income from it, and it doesnt matter if you lose some of your money. Do it ?

Any sort of investment in argentina is a gamble at the moment.

 

[Ashley]

I agree with all of the above. If this is a long-term thing, to enable you to enjoy the city, great... but not if you're looking at it as an investment/potential source of stable (US$) income. My main considerations would be a) I have heard that the real estate market is at a high (price wise) and b) I do wonder if expats currently selling are able to get their dollars out of the country.

 

[jaykay]

I can't really comment on the rental situation, but what you should be most concerned about is getting your money out of Argentina when it comes time to sell. It will cost you a fortune and you will lose money, especially if you are a non-resident. Take it from someone who recently experienced it. Under current conditions - which will only get worse before (and if) they ever get better, unless (1) there is no possibility that you will ever leave or (2) you are wealthy enough that the prospect of getting royally screwed doesn't phase you ... don't do it.

 

[mariposa]

I'd also like to see if anyone can recommend a good accountant, I would like to make sure all the taxes will be in order as I understood it is not an easy matter. If anyone can recommend an accountant that is familiar with non-residents' issues I would very much appreciate it ...

i have a wonderful accountant who deals with both residents and non-residents. PM me for info.