Now the market sucks. The apartment where I live cost 175 K. The one in the upper floor is for sale and they ask 300 K. So, even a 20% off is too expensive.
Property prices in Buenos Aires have always been expensive when you consider that most transactions are in cash , there are very high costs in buying and selling and most apartments have not been remodelled in 30 years . My first property I brought here was about US$ 800 a metre in Palermo Soho and everything in the building said I overpaid as I was a foreigner . It may have been so but this was a great investment as Palermo Soho increased proportionally more per metre than any other neighbourhood in the last 10 years .Now the market sucks. The apartment where I live cost 175 K. The one in the upper floor is for sale and they ask 300 K. So, even a 20% off is too expensive.
No, the time is not there yet. The crisis has to go further to make sense to buy. Still over priced.Perry wrote: I personally would not buy property now in Buenos Aires unless a great deal is presented to you.
Don't you think that an owner who is eager to sell now during the economic crisis would accept any reasonable offer to get their hands on dollars? There are less than desirable properties on the market for a long time that owners would probably sell to anyone who shows up with dollars. Why would a buyer have to wait for a great deal when one can make an offer that a seller can't refuse? If there is an abundance of apts for sale, then it's a buyer's market. It sounds like a good time to buy in BA.