Argentina real estate
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As a country coming into the limelight, internationally speaking, Argentina has many desirable qualities that bring millions of visitors each year. Despite the worldwide economic crisis, Argentina has managed to fare better than many other nations on various different levels. After the huge economic crisis of 2001, followed by the more recent international crisis, it is hard to believe that the country is doing as well as it is today, not even one decade later. Business is booming for many — the capital city of Buenos Aires is chock-full of cafes and restaurants, museums and galleries, bars, shops, and everything in between. Its reputation for great wine continues to grow, and nobody can deny its well-deserved recognition for beef and tango. Tourism has grown by six times in the last seven years. There is no question that that, generally speaking, things are looking up.
Argentina real estate for foreigners
Many tourists, however, decide Argentina is more than just a nice place to visit, and choose to make a larger investment in the country: Many foreigners buy property in Argentina, either as their own residence, or simply as an investment. Argentine laws make it possible for foreigners to have nearly all the same rights as local buyers, with the exception of certain restrictions on properties close to border areas.
Argentine property is especially attractive on an international level because it is relatively affordable; many properties cost a fraction of what a comparable property would cost in the U.S. or Europe.
On a national level, many locals look to buying property as a somewhat safe means of investment — and for good reason. The 2001 crisis made Argentines extremely wary of banks and similar institutions, and, due to the recent crisis in the U.S., they are not so trusting of American or European banks, either.
While housing prices in the U.S., for example, have been all over the map in the past couple years, Argentine prices have managed to stay somewhat stable. Because of both economic crises, there is nearly no credit available in the country, so mortgages simply are not an option. Buying with cash means that owners truly can afford the places they buy, and there will be no repercussions down the line when they realize they can’t pay their mortgages.
Of course, things are never quite so simple. Many Argentines and foreigners alike are waiting to see how the crisis is resolved around the world before investing. Investments have seen a decline, to some degree. While prices have remained relatively stable, it is not to say that there is no chance that they will flounder. But generally speaking, the outlook is good.
While Buenos Aires remains the most popular among investors, there is also a healthy amount of interest in the less traveled areas of Mendoza and various cities in Patagonia. In addition, investments in Argentina real estate are not limited to residential properties; many buyers are also interested in a variety of farming activities, from cattle and soy to wine, plums and walnuts.
While the entire world is experiencing a lack of prosperity to some degree, Argentina remains one of the more desirable countries for investors. Local real estate professionals remain optimistic about the future, and the large South American country has already proven its ability to remain somewhat stable in a time of such