Property buyer in Buenos Aires

[Recoleta Carolina]

overbury, hi. If there is anything you can take away from starting this thread - please, please send a Private Message to Recoleta Carolina. She had some very bad experience with real estate here - and as much as there are success stories of buying properties here - we learn alot from the NOT so successful stories, and those people that she might/ or might not mention to you - are people to steer clear away from.
There are some very good real estate agents here - but there is NO guarantee that what works for one buyer will work for the next.
Do you think you can just rent for awhile so you can really see with your own eyes and hear with your own ears what you are buying? Just a friendly advice. And no I am not in the business of recommending anybody.
Good luck, you can never have enough of that I am sure .

Great remark, Grazie. What works for one person will not work for another!!! Which is why I do NOT recommend anyone on this forum or any other. One person might be very happy with a realtor but ask someone else and they might have had a totally different experience. It´s kind of like a doctor. If he/she cures you then they are the best. But, ask someone else who had a bad experience with them and you get a different opinion.


At any rate this poster should rent for at least a year, learn some of the language and definitely learn the REAL VALUE of the properties he is looking at. Because, as a foreigner he will definitely pay 30-50% more plus get shoved around to all the usual notories, lawyers, etc. who give referral fees to the realtors. It´s a real circle.

 

[Recoleta Carolina]

Glad that I've found an ex-pats site for BA.
I am in the process of buying an apartment in Palermo Vijeco. I currently live in Germany as a n English Ex Pat and want to let the property until I move to BA next year.
Does anybody have advice regarding letting agencies, prices etc?

The rental market is not what it has been over recent years. Most apartments are sitting empty most of the time. You will not get a good return on your money so if you decide to buy at least know in advance that there is not a good rental market at this time. Too much supply and not enough demand. People are staying home. They are not travelling as much as in recent years. Also, the cost of the rental agencies is pretty expensive.

Check out the rents on Craigslist to see what people are asking these days. I know that rents have come down quite a bit.

 

[overbury]

Have signed contract and paid majority of cost. Apartment has just been built and I have been offered 7 % yield per annum by the developer ... I'm looking around to get a general feel of the market ... by the response it looks like I gotta be careful with who I deal with.

 

[BlahBlah]

I already know how it is going to end

Do you want to know it?

 

[RWS]

. . . . I have been offered 7 % yield per annum by the developer ... .

We all hope, for your sake, that that seven percent is not on the Argentine peso. With inflation running around twenty-five percent a year (a guess, as the procedures for deriving the official statistics have been emasculated), the actual return would be much less.

 

[BlahBlah]

That is if you ever get the property on your name and if its like promised

 

[jez]

My recommendation is NEVER buy ANY property in Argentina. It really is more trouble than good. If I hadn't bought mine in 2003 I would get the Hell out of here as fast as possible. It is rotten to the core. Don't let a french facade fool you.

I bought a 2 bedroom apartment in 2005 and started renting it (www.stayba.com) in 2006 with www.LetsGoArgentina.com, I've had a good experience with them and as yet haven't lowered my rates. Jan - April this year was unbelievable but its got a bit quieter in the recent months. As for rates it all depends on number of bedrooms, location, facilities etc..

I also have a place in Bariloche (www.StayBariloche.com) and yes it's a very quiet year with the 'gripe', economic situation and a bad start to the ski season, but unlike rmartinbuenosaires I am very happy here

 

[BlahBlah]

Have you increased your rates since 2006?

 

[Neil]

Or an alter ego....

 

[HDM]

Who is keeping riff-raff like me in line while Igor is recovering?