Not Argentina, but I'm studying 2 neighbors, deciding which way to go.
There is some nice real estate in Argentina, and prices seem reasonable compared to USA prices. Just be aware that the K's (The Kirchners) are on a taxing bender. Farmers are fleeing the country. Citizens are trying to smuggle their money out. The K's have cash sniffing dogs posted at the ferry crossing to try to stop money from leaving the country. They have the Frey Benito bridge blockaded so the only way into Uruguay is on the ferry.
The people are nice, immigration is easy, there is a lot of diversity in climate and terrain.
Crime in Buenos Aires is a bit high, and can get violent, although nothing like the violence in Brazil. A few kidnappings for for money, yes. Set you on fire in the street, no. Most crime is mugging and residential burglaries. It's a huge city. Take standard big city precautions, and you should be OK.
Real estate is sold in dollars and sellers want cash folding money. They don't want the transaction to go throught the banks, or the K's will get their money from them.
Sales are handled by an escritorio, and title will be clear and recorded. Will the K's nationalize? Anybody's guess.
The economy blows up on a regular basis, and it seems to be blow-up time right now.
The news for today from Argentina is that President Cristina Fernadez de Kirchner fired the President of the Central Bank because he refused to release $6,569,000,000 (US dollars) from the national reserve in order for her to pay for the country's debt service this year.
From The Economist
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Argentina's bank grab -The reserves, or your job
Jan 7th 2010 | PUNTA DEL ESTE
The president’s ultimatum to her Central Bank chief
TO SUSTAIN its expansionary fiscal policies, Cristina Fernández’s government has developed an insatiable hunger for other people’s cash. First she ramped up taxes on farmers, then last year she nationalised private pension funds. Now she is trying to lay her hands on the Central Bank’s foreign-currency reserves.
AFP Redrado’s pointed defiance
The Central Bank is formally independent. By law any transfer of reserves requires authorisation by Congress. MartÃn Redrado, the bank’s governor, stalled, awaiting legal advice and the outcome of a legal challenge to the reserve grab by the opposition-controlled province of San Luis. On January 6th the government ordered Mr Redrado to resign. He refused, saying he would serve until his term ends in September.
Real Estate Consultant · Saint Paul, MN · Member since 2009 · 55 posts · 4 votes
16y
That sounds like old fashion Argentine politics P NW, thanks for the updates.
If I were to invest I think I would take my chances in Uruguay. However in Buenos Aires I think I would be able to make a niche for myself referring tourists to short term leases.
I'm not too concerned about crime in Buenos Aires, I'd take my chances in Buenos Aires over Minneapolis any day. Brasil on the other hand I have some apprehension about :).
I've spent the better part of a year in Bs As so I've got the savvy down and some how I always have an ear to the political ground there. Pretty much because I'm keeping an eye out for the dreaded nationalization wild card.
Hopefully some investors find this thread so I can get some insight on the workings and if it's possible to build a renter/buyer list marketing fee driven position.
Real Estate Consultant · Saint Paul, MN · Member since 2009 · 55 posts · 4 votes
16y
Anyone happen to know if you need a real estate license to act as a realtor in Argentina? I hear from Wendy that you don't have to have one in the UK.. If you happen to know it would be greatly appreciated. :)