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Argentina is a large and very diverse country and for this reason its popularity as a tourist destination is ever increasing. It is now the 2nd most popular tourist destination in the whole of South America. From the vibrant buzz of its capital city and the breathtaking Patagonian lake-district to the much talked about wine producing regions and the awe-inspiring glaciers there is something for everyone. What is encouraging is that although it appeals to foreigners, Argentina’s biggest fans are its own population with many locals choosing to holiday in their own country rather than abroad. This has led to a dramatic increase in demand for 2nd homes suitable for wealthy Argentines to use as holiday or weekend retreats. Demand for holiday accommodation in general is also high as tourist numbers from the rest of the world also increase.
Argentina is a vibrant and diverse country; the second largest country in South America and the eighth largest in the world. The capital city, Buenos Aires, is one of the most cosmopolitan and friendly cities you will come across, with a fantastic selection of restaurants and bars, all of which offer exceptionally good value for money. Elsewhere there are the increasingly popular wine producing regions, world class ski resorts, exclusive golf and country clubs, Patagonia’s breathtaking lake-district and the awe inspiring glaciers at the Southern tip of the continent. The quality of life in Argentina is incredibly high and, benefiting from rich natural resources, a highly literate population, an export-oriented agricultural sector and a diversified industrial base, the country’s economy is well grounded.
It is important to look at the grounds for future capital growth when considering any real estate investment and Argentina is a particularly interesting example. As the growth in demand for real estate stems mostly from the local population, bolstered by interest from foreign tourism and investment, the market is very stable and not based around speculative purchases. In addition, this growth is occurring without any bank financing which again indicates that the foundations for the expected real estate boom are solid and genuine and not based on foreign, highly leveraged speculation. Rather than saving their money in banks, the Argentine population then, tend to focus their investments on the construction sector unleashing high demand for new build property. A key factor is that the country has a large percentage of wealthy people, who not only can afford to buy property, but moreover can afford to pay considerable amounts for second homes in popular weekend retreats. This means that the rental market for resort or country retreats is already very strong. Demand from foreigners is an additional bonus.
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