Argentina is officially known as Argentine Republic. It is the second largest in South America and eighth largest in the world. Capital of Argentina is Buenos Aires and the official language is Spanish. It is classified as an upper middle income economy but the economic growth of Argentina had been sluggish during the end of last century.
Still, economic recovery was witnessed with the growth rate hovering near 8% between 2003 and 2007. This trend was reversed in 2008 and 2009, when the growth rate had been 6.76% and 2.5%, respectively. The Argentina property rates also dipped in 2008, reflecting the global economic downturn. In spite of this, the Argentina real estate prices had recovered at least 50% of the lost ground in 2009. During the boom period, prices of real estate in Argentina, particularly in the cherished neighborhoods of Buenos Aires, had matched the prices of international real estate for sale prices in cities like New York, London, or Paris. However, the present prices of Argentina real estate listings in Buenos Aires are 7 to 10 times lower than the prices prevailing in these cities. If the international real estate investors move out of the capital city to other cities and rural areas, the price differences are even more obvious.
For example, the apartment prices in the most expensive neighborhood of Palermo in the capital, Buenos Aires range between $1,700 and $3,000 per sq. m. In another rich area, Recoleta, the prices of apartments are between $2,500 and $5,000 per sq. m. When the Argentina real estate for sale available for such comparatively lower prices, the Argentina rentals had also dropped significantly. The rental yields in prime areas of the capital dropped from 9.4% in 2008 to 7.7% in 2009. Rentals for houses were marginally higher in the range of 6.7% to 9%, while the rentals of apartments ranged between 6.4% and 7.4%.
These estimates reveal that the upheaval in the real estate of Argentina after the economic downturn in the United States in 2008 continued well into 2009. However, the prices of Argentina real estate had been stabilizing in 2010 and the trend is expected to continue. The major advantage of Argentina real estate for sale and Argentina rentals is the cash settlement of property exchanges after the economic setback suffered by that country in 2002. Very few properties are mortgaged. This had insulated the Argentina property prices to a large extent from serious shocks. The hosting of 2014 Football World Cup by Brazil, as well as the 2016 Olympic Games in Brazil are expected to provide a strong thrust to tourist arrivals in neighboring Argentina also. Hence, this is the right time for international real estate investors to park their excess funds in Argentina real estate listings and obtain a significant profit returns within the next 5-10 years.
Taylor White is an international real estate investor and leading the charge at International Real Estate Listings the Argentina leader in Argentina real estate for sale, Argentina real estate exchanges, and Argentina rentals . Argentina property owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a Basic Listing for 6 months, free.