How to buy real estate in Argentina: tips and current prices
- How can foreigners buyreal estate in Argentina after the pandemic?
- How to choose the best place to live in Argentina?
Foreigners and real estate in Argentina
The question of whether a foreigner can own real estate in Argentina is of considerable interest. The situation with housing prices in Buenos Aires also plays a significant role for potential buyers. Which areas of the capital are considered the most attractive for investment? What is the state of the long-term rental market in Buenos Aires? These and other questions were answered by Rickijames Gugg, who holds the position of Director of International Investments and Sales at Desarrollos Diagonal.
Changes after the pandemic
The pandemic has led to a significant change in people's preferences and there is now a growing interest in buying private homes in Argentina. What are the current trends in the real estate market of this country? What is the situation with housing prices? At the moment, the cost of real estate in Argentina remains at a relatively low level. However, this may change in the future as many people are stepping up their financial investment opportunities. The real estate market is starting to gain stability: prices have stopped falling and a slight positive trend is emerging.
Popular types of real estate
What are the most popular types of real estate in the Argentine market? Currently, apartments suitable for short-term rentals are the most in demand. Most often, these are 2-3 bedroom apartments. Previously, the focus was on studios and one-bedroom apartments, especially before the pandemic, when investors were looking for rental options for around two years. Currently, in Buenos Aires, the price for a one-bedroom apartment ranges from $2,500 to $2,800 per square meter, and this trend has remained relatively stable over the past year.
Post-pandemic realities
Post-pandemic realities have shown a growing interest in private homes: many residents have left the largest cities to move to gated communities and suburbs of Buenos Aires. Typically, plots of land are purchased here, with construction costs comparable to those in the city. According to the latest reports, the price of construction work in Argentina is currently approximately $1,000 per square meter.
Attractiveness of Buenos Aires
What makes Buenos Aires attractive to real estate buyers? The residential real estate market in Buenos Aires has unique characteristics and stands out significantly among other cities in the country. The capital is actively developing tourist destinations and offers a wide range of leisure and entertainment options. Buenos Aires is one of the ten largest cities in Argentina, and many locals dream of living in this metropolitan center, where the wealthiest citizens are concentrated.
Aesthetic uniqueness
The city is rich in beauty and atmosphere, which is why real estate in the northern districts of Buenos Aires is the most popular. The assessment of housing quality always depends on the personal preferences of each individual client.
The importance of choosing a place to live
The choice of where to live is a key issue for many people. Some prefer quiet and secluded spots, while others try to stay close to developed infrastructure and convenient transportation systems. What is real life like in Argentina?
Differences in housing prices
Where can you find the most budget-friendly apartments in Buenos Aires, and where, on the contrary, do housing prices reach their peak? What factors influence real estate prices? Such questions concern many people. In the capital region of Argentina, three main geographical zones can be identified:
- Buenos Aires itself
- its suburban areas
- interior areas with their own characteristics
Prices per square meter
According to data published in the real estate magazine Real Estate Report, the average price per square meter of a one-bedroom apartment in new buildings in Buenos Aires itself is$1,800.However, in the city center, this figure decreases to1100 dollarsper square meter. In the Greater Buenos Aires area, you can find a similar apartment on the secondary market for an average of$1,600.per square meter. It should be noted that on the secondary market, prices are often lower, and there is room for negotiation depending on the situation with a specific property.
Average housing cost
According to a conducted study, the average cost of a one-bedroom apartment on the secondary market in September of last year was about65,000 dollars. Looking at the more spacious options, in the northern neighborhoods of the city, a four-bedroom apartment is valued at an average of .138,750 dollarsThe highest prices are observed in the Puerto Madero area, where the cost per square meter when purchasing a one-bedroom apartment reaches approximately5300 dollarsIn the Palermo area, the price per square meter varies from$2,800 to $3,000.In Belgrano, it fluctuates between2800 and 3200 dollars.
Mortgage lending
As far as mortgage lending is concerned, this market is practically non-existent in Argentina and this creates serious difficulties for the potential of buyers. What is the situation with foreigners? Are there any restrictions on the purchase of housing for foreign nationals? In practice, foreign citizens have no obvious barriers to buying real estate in Argentina. Most often active buyers are citizens from Central America and Russians, as well as residents of other South American countries, seeking to settle in Buenos Aires.
Problems of local residents
Nevertheless, locals earning their wages in Argentine pesos are facing high housing prices, making it nearly impossible for most to buy an apartment. Additionally, due to the significant level of inflation, the mortgage market remains extremely limited. At the same time, some banks and private lenders may, in rare cases, offer such services.
Conclusion
Ultimately, potential buyers need to consider a variety of factors before making a decision, as well as being informed about the nuances of the local real estate market and financial realities.
Conclusion
In conclusion, I would like to make a few general observations about the state of the real estate market in Argentina and its accessibility for foreign investors. In recent years, especially after the pandemic, the country's real estate market has undergone significant changes. On one hand, low housing prices attract buyers, while on the other hand, the financial and economic situation in the country creates certain difficulties for local residents.
Current trends in the real estate market
Analysis shows that apartments in Buenos Aires, especially in prestigious areas, remain popular among both local and foreign buyers. This is due to their location, developed infrastructure, and the city's rich cultural offerings. While one-bedroom apartments can be purchased at relatively affordable prices, interest in larger properties, especially in the suburbs, has not waned. In recent years, there has been a steady trend towards increasing demand for private homes, which seems to be a rational step for many seeking greater comfort and security.
Interest of foreign buyers
It is interesting to note that foreigners, having the opportunity to purchase property in Argentina without restrictions, represent one of the main areas of buyer interest. Despite economic challenges and the lack of a developed mortgage market, many choose Argentina as a promising option for investment.
Future prospects
However, as I emphasized in the article, the market is in the process of stabilizing, and it is intuitively clear that those who decide to invest today may benefit from rising prices in the future. There are certainly certain risks, but they should not deter potential investors. Against the backdrop of increasing demand and limited supply, Argentina is opening doors to new opportunities, especially in the real estate sector.
For anyone considering living or investing in this country, this is a real opportunity not to miss out on a benefit that could open new horizons.
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