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Buying a Property in Argentina

Argentina's investment potential

Following a deep and disastrous economic depression that ended in 2002, Argentina has recovered well, and is now stable economically. Unemployment is falling, and property in Buenos Aires is said to be up to 30 per cent undervalued.

Tourism is set to grow by around eight per cent per year, and as luxury hotels are already running at high occupancy, there is real potential for the rental market for short-term tourist lettings to grow significantly. Rental yields on high-end properties are still strong.

Finally, Argentina held elections in late 2007 to decide on the new President, in which Cristina De Kirchner, wife of the outgoing President, won a significant victory with a large majority. As the first female leader of the country, De Kirchner has a wide populist mandate to continue progress in Argentina, and there is a real sense of optimism among the population. However, her efforts to gain control of the high inflation by imposing severe export taxes have encountered strong opposition, and despite nationalizing private pension funds to bolster the government coffers, there is still uncertainty over the economic future of Argentina.

Health and Education

Medical care is generally of a high standard in Buenos Aires, but can vary somewhat outside of the capital. The State strives to provide free medical care for all of its inhabitants, but this can only be achieved to a certain degree. As a foreigner, you can apply for medical cover under the short term visa scheme, during which medical records may be required in a translated format.

Cosmetic surgery is popular in Argentina, and is quite an advanced industry, leading to many foreigners visiting for treatment.

You may prefer the security of having private medical insurance to cover you while in Argentina, and there are a variety of providers offering various levels of cover across the world.

Buenos Aires has a number of international schools, as well as offering an exchange programme for university places, and tends to look favourably on applicants for student visas.

Transport

Argentina has an advanced transport system both internally and internationally allowing easy travel both to and around the country.

In particular, Buenos Aires has a good tram, metro and bus system. There are also two airports serving what is known as the ‘Paris of South America’, one for international flights, and another serving mostly domestic destinations. Flights from London often stop in Sao Paolo en route, and can take up to 12 hours.

And finally...

Argentina has emerged from an economic and politic decline to really show its soul and passion to the world once more. A country of the tango, polo playing and fine wines awaits both the traveller and those looking for property investment, while there is still enough for the younger trailblazers to get excited about in the national parks and mountain regions.

Above all, Argentina now has its much sought-after stability in politics, which means it should be well placed to continue growing on the international stage in years to come. Investment in property in Argentina is by no means risk-free, and with the current economic worries and high inflation, it may be better suited to professional investors with a clear attitude to how much risk they are prepared to take on. There is potential for a vibrant and exciting overseas property investment here, but caution should be exercised at all times.

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More pages

Page 1: Why Buy Property in Argentina?
Page 2: The property buying process
Page 3: Argentina's investment potential

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