property in Buenos Aires

[Pieter]

Hello fellow expats!

I've been living in Buenos Aires for a couple of years now and lately I've started thinking about buying a property and such no longer pay rent (and maybe receive a little bit, depending on the property). Does anyone have any experiences with this? What are the things i should look out for while making a deal? Most importantly, would this be a good investment or just plain stupid?

 

[steveinbsas]

A recent thread asked the same question:

http://baexpats.org/expat-life/18009-right-time-buy-property-argentina.html

 

[earlyretirement]

Hello fellow expats!

I've been living in Buenos Aires for a couple of years now and lately I've started thinking about buying a property and such no longer pay rent (and maybe receive a little bit, depending on the property). Does anyone have any experiences with this? What are the things i should look out for while making a deal? Most importantly, would this be a good investment or just plain stupid?

I'd say a big part of the answer depends how long you plan on staying in Buenos Aires. You mentioned you were already there a few years. Do you plan on staying for the long haul?

Personally, I think it's probably wise to wait a year and see how things play out with the market and the restrictions and controls. Prices definitely will NOT go up much at all in the next year but most likely will fall.

I don't see prices crashing again like the last collapse. Most people this time around are expecting a crash and are preparing for it this go around.

Long term I think if you will plan to stay in Buenos Aires, buying can make sense. I wouldn't rush into anything right now. I think prices will be cheaper a year from now.

There are hassles of owning in Buenos Aires but there is also a lot of great things about having your own place that will always be yours, not dealing with guarantias and doing what you want with it.

 

[jeane]

Pieter,
It's a buyers market at present, especially if you have dollars or euros. I have a place for sale downtown Maipú 871, 8th floor that might interest you. Other wise, I write here because these are also difficult times and there are many people with false and dishonest deals.
Shop for someone to represent you. I'm very pleased with the services of the people at ANA BERCETCHE PROPIEDADES, [email protected].
tel: 4807-6814. Other people I've trusted turned out not-so-honest. (We can all tell you the many unpleasant stories).
Only do transactions that are clean and simple. As soon as they get complicated or there is a different number in the contract than you are paying, it may look good now but will come back to bite you later.
Also, depending on your level of Spanish, take someone with you that is unrelated to the sellers or realtors, maybe your Spanish teacher or a lawyer.
Good luck!
jeane

 

[Pieter]

thanks for the replies !!

I didnt releasize there was another thread but i've been reading it. that and the replies here have given already much useful information. I'll look at it some more and probably come back with more specific questions

Thanks for the help!!