Property Investment

[Musicman]

Hi - I heard a possibility to get property at 40% discount in BA if buying with dollars thanks to peso spread - this together with recent drop in prices sounds like a great buying opportunity - BUT is it true?

Can the collective give me there feedback on this pls

Thanks,

MM

 

[Matiasba]

I dont think exactly now is the best moment, Id wait a year or two, devaluation will sure come, and thats the moment.

 

[garryl]

Hi - I heard a possibility to get property at 40% discount in BA if buying with dollars thanks to peso spread - this together with recent drop in prices sounds like a great buying opportunity - BUT is it true?

Can the collective give me there feedback on this pls

Thanks,

MM

Not true,, market is soft. But for the apartmentss in nice area, the owners still feel they own
a gold mine. If you think Argies think highly of themselves, they think even higher of their apartments
in Recoleta. From a pure investment point of view, it's not good to buy here, unless your heart tells you to
buy here and now.

 

[Ries]

40% discount from what?

The real estate market in buenos aires has been consistently trending upwards since 2001. No huge dives, certainly no 40% drops.
If all you care about is "cheepniz", as Frank Zappa used to say, BsAs is not the right place.

Come to Buenos Aires because you enjoy it, buy property here because you want to live here.

Portenos are still buying in Miami- they think THAT is a great buying opportunity.

As mentioned above, great 100 year old departmentos with character in good neighborhoods have held their value, and, in fact, steadily appreciated. They are a good investment, but not cheap.

 

[TomAtAlki]

Yes, buy if you want to live here. Then it's a deal, otherwise no.

Nancy

 

[mariano-BCN]

I've been seeing flats since may, 'cause Ive to stay here for a couple of years and don't want to spend so much money on temporary rents. Now I'm paying 4300 pesos all in for a loft in San Telmo and I'm for the time being satisfied.
I'm still looking for a flat to buy in the area but prices and quality are still far from interesting, though prices are beginning to drop.
The main problem here is the mentality of porteños: they think they've kind of goldmine as a property but in fact it's no more than a crap flat with no reforms since the seventies.
So for the time being I'm not using my euros to buy, I'll wait and see the prices fall further.

 

[Davidglen77]

Hi - I heard a possibility to get property at 40% discount in BA if buying with dollars thanks to peso spread - this together with recent drop in prices sounds like a great buying opportunity - BUT is it true?

Can the collective give me there feedback on this pls

Thanks,

MM

I´ll tell you one thing. If you buy property here, you had better transfer in the money via your bank totally "en blanco" and not exchange dollars for pesos at the blue rate. The day you try to sell it, and you have to request the COTI number (this is esentially a number that you must request from AFIP for authorization to sell a property) a red flag will go up and you could be asked to prove the source of the funds with which you bought the property. If you can't prove that it came in through normal banking channels, then you will either not be able to sell that property and if you do, AFIP will take HUGE amount of it (think 50%) from you as a penalty. Make sure you are WELL assessed when buying property here ESPECIALLY if you are bringing the funds into Argentina from outside of the country.

 

[GS_Dirtboy]

If you own property here and are thinking of getting out of Argentina then it is a good time to sell. For the moment, it's mostly Argentines who are buying up the properties. They are looking for a place to put their cash - Dollars or Pesos.

For buyers, the people who are saying that there is a 40% discount on property with the blue rate 1) have no idea the real price of property and 2) have no idea what the blue rate means or how it works for property sales. Decent to nice properties in Recoleta and the Palermo's are selling from between U$2,500/m2 to U$3,000/m2. If you think that is a good deal then there are a lot of nice properties to be had at prices that are half most any other major world city.

 

[Davidglen77]

I really don't think that properties are being sold at bargain prices these days. While there have been some reductions, the prices have been lowered no more than 10%. For example, in my building here on Av. de Mayo close to 9 de Julio a very small studio apartment 23m2 on my floor, in average condition (kitchenette and bathroom from 1978) just sold last week for $60,000 U$D.

 

[ajoknoblauch]

In 2002, we were thinking of remodeling our kitchen in California, but we bought an apartment in the Botánico instead. Now we regret it - that we didn't buy two.