HOUSING IN ARGENTINA

General

Finding reasonably priced accommodation to rent will be relatively easy in Argentina depending on the area you are looking in. This section gives you information about the Argentinean housing market, as well as a wide range of tips and tricks for your housing search.

Latin America has a high percentage of its inhabitants living in big cities. Argentina is no exception to that. The downtown areas are mainly characterised by apartment buildings. When moving away from the centre a wider variety of housing is found. Argentina is an immigrant country which is clearly noted by the architecture of its housing. For example, in the outskirts of Buenos Aires you are likely to come across English style houses, whereas the downtown area resembles Italy and Spain. Near Cordoba and in Bariloche you will often have the feeling of being in Southern Germany or Switzerland.

Things to bear in mind on your search
Accommodation prices in Argentina are determined by the size and location. This holds for both renting and buying. Accommodation is measured in square meters. Furthermore, and this may come as shock to some, buying a house or apartment in Argentina means most of time that payment in cash is required. With the economy improving this is slowly changing again.

Another factor to bear in mind is that in Argentina apartment and houses are described by the number of rooms or ambientes. This includes the living room and the bedrooms. Take into account that there can be several living or sitting rooms in a house or apartment. Kitchen, bathrooms and toilets are not included in the room count.

Housing in Argentina is either let furnished or unfurnished. The availability of one or the other ranges from where you want to live. In a mayor city like Buenos Aires or Cordoba both furnished and unfurnished are readily available. In a smaller city like Comodoro Rividavia finding a furnished place will be very hard.

The Rental Market

For many foreigners coming to Argentina finding a place will not turn out to be that difficult since prices are still relatively low. Renting a place also means paperwork.

For Argentineans finding a place to rent is becoming increasingly difficult. Since many Argentineans are not in the position to buy property (anymore) the demand for places to rent is high. To get an idea of rental prices, in the most solicited neighbourhoods in Buenos Aires a two room apartment will have an average monthly rent of AR$ 900 in Recoleta whereas in Belgrano it will range from AR$ 550 to AR$ 2000 a month. In the popular neighbourhoods of Buenos Aires a small place to live will hardly be found below AR$400/month. (Source: ReporteInmobiliario.com).

A development that is taking place in the mayor tourist and business areas in Argentina is the increase in short term rentals aiming at foreigners. Places offered in neighbourhoods like Recoleta in Buenos Aires as well as apartments in places that receive many tourists like Bariloche and Villa Langustura, are offered fully furnished at prices lower than the better hotels. Many of these places can be booked online.

Supply and demand can also vary considerably in the course of the year, particularly in cities with a large student population such as Cordoba and Buenos Aires. At the beginning of the academic semesters, which is around February/March and August/September demand tends to be high.

Read mlore on this on Allo' Expat Argentina.

Argentina Real Estate

Thousands of homes are sold every year, and the vast majority of these sales involve the work of an estate agent. Here's our guide to getting the best from your agent.

"Real Estate Agent" is just another name for "Salesperson"
Don't ever lose sight of that fact. Their only mission is to sell, sell, sell to you. Don't ever let on that you are in a desperate situation, or that you need to buy a house fast, or that you are in a desperate crunch to buy this house now, because you are being transferred into town this week. It's simply none of their business and as far as they are concerned, you are not in a rush to buy a house.

What estate agents do
Estate agents are the 'arrangers' of the property world, carrying out three main functions: valuing, advertising and negotiating.

• They decide how much a home is worth, based on an understanding of the local property market and consideration of the fixtures and fittings.
• They make sure that potential buyers know of the sale by advertising and providing details, or 'particulars'.
• They act as the go-between for buyers and sellers communicating offers and counter-offers between the two parties.

Getting the best from your estate agent
When you're looking for an estate agent, ask among friends for recommendations, and take a look at the boards in the area in which you're planning to buy. Also, have a look at the local press to see who advertises - it will give you an idea of how busy they are.

Estate agents are self-regulated, working under codes of conduct regulated by their professional bodies. Look for agents who are members of organisations such as the Royal Institution of Chartered Surveyors and the National Association of Estate Agents. Some, although not all, agents are also members of the Ombudsman for Estate Agents (OEA) Scheme which guarantees that if you have problems with your agent, you will have a right of redress. Look for the OEA badge on their details.

Although estate agents are usually working on behalf of the seller, they still have certain duties to all buyers.

• They must not mislead buyers about the nature of the property in the particulars that they provide.
• They must treat all buyers fairly, and should not hold back offers in cases where a buyer has refused to use their services.
• When you make an offer, the agent must pass a written copy to the seller, unless they have specified otherwise (for example, that they will not consider offers below a certain amount).

To get more info, go to Argentina Travel.

Argentina Real Estate: Still Holding Up

Real Estate in Argentina

"The real estate market in Argentina has fared much better than the US or Europe over the last year as almost all real estate transactions in Argentina are non-leveraged," said Scott Mathis. "Obviously, sales have stalled somewhat as buyers are waiting to see what happens around the globe but real estate prices have not be hit nearly as hard in Argentina." The private equity company Mathis chairs - DPEC Partners - invests in Argentine real estate.

The Argentine real estate market continues to remain stable for two reasons - lack of credit and paltry investment options, according to Reynolds Propiedades SA. "Argentines have been burnt in the past with anything resembling a bank [as a result of the 2001 economic crisis.]" according to Reynolds. "As such, nationals mistrust Argentine based banks and now, because of the U.S. crisis, have founded fears over U.S. and European financial institutions."

This fear of banks and other monetary markets have translated to a great deal of investment in hard assets such as property. "The preferred investment tier lies in the area of USD 50,000 to USD 150,000 which allows investors to rent these units to local tenants and attempt to satisfy the massive shortage of living space," according to Reynolds.

International buyers have been attracted to the Argentine property sector because of the relatively affordable prices. "You can buy property in Argentina at a fraction of what you would pay in the US and in Europe" said Mathis. "Buenos Aires in the most popular but Mendoza [Argentina's Napa valley] is gaining recognition for its wonderful wine route and stature as making the best Malbec in the world."

There are investment opportunities elsewhere in the country as well. "We see a grand entry opportunity not only in traditional farming activity, such as soy and cattle, but also in alternate crops like vineyards, export plums and walnuts," according to Reynolds Propiedades SA. Ski heaven San Carlos de Bariloche and the town of Cafayate in Valles Calchaquíes are other points of interest.

Buying property in Argentina

While foreigners are allowed to buy in Argentina, there are some restrictions regarding owning land in border areas. "Foreigners are allowed to buy property," said Jamie Schectman owner of Bariloche Vacation Rental (www.barilochevacationrental.com). They have the same rights as Argentineans in most parts. That said, there are some restrictions buying in areas that fall under the Zona Seguridad - "roughly within a 100 kilometer of the Chilean border," according to Living in Patagonia (http://www.livinginpatagonia.com), a blog chronicling the lives of an American couple, Jamie and Shanie Schectman.

However, recent changes to the laws governing such purchases have made it easier to acquire property in that part of Argentina. Non-Argentineans can now buy real estate without much ado as long as the property under consideration is located in an urban or suburban area, is less than 5,000 square meters, and isn't bought for commercial purposes.

Read full text on NuWire Investor.