Buenos Aires
The capital, Buenos Aires, is the obvious first choice for those
looking to buy property in Argentina. It is the political hub of
the country and has much to offer in terms of culture and history,
making it a top tourist spot. It is also one of the cheapest
developed cities in the world. The buy-to-let market is two-fold:
there is a demand for property from locals, be they business
employees needing an apartment in the Docklands-equivalent Puerto
Madero district, or large families wanting a good-sized house in
the popular northern suburbs; and then there is the short-term
demand created by the steady stream of tourists who favour central
city pads, conveniently placed for visiting the key attractions.
Occupancy levels tend to be reliably high throughout the year.
Prices vary from neighbourhood to neighbourhood. Recoleta is
likened to Knightsbridge, with typical prices per square metre
being between £1,500 and £1,770 ($2,900 - $3,500). Pueto Madero,
recently the most coveted address, consists of high rise office and
tower blocks where a small one bedroom apartment can cost from
£100,000 ($197,700) and anything larger with views can sell from
£350,000 ($692,000). This area has better long-term investment
prospects than short-term due to the amount of property available.
The areas recommended to give the best return are Recoleta, Plaza
San Martin and the Palermo areas where the 'clever money' is said
to be going. Palermo Viejo is known as the new Hollywood, welcoming
foreign investment as big screen companies flock to use the
facilities. A small, contemporary apartment can go for £35,000
($69,200) to £60,000 ($118,600).
Cordoba
Outside of Buenos Aires, Córdoba is the next largest city. It is
cosmopolitan with a wealth of history embedded in its streets.
Córdoba is known as the cultural centre of Argentina as well as
being an important industrial location and housing the first
Argentine university. It is popular with tourists for the variety
of activities within such a close proximity: the historical and
cultural sightseeing juxtaposed with robust outdoor adventures and
a thriving and energetic nightlife. A five bedroom villa downtown
can be found for just over £100,000 ($197,700), whilst further out,
a five bedroom ranch with over 2000 acres of land is on the market
for just under £180,000 ($355,900).
Mendoza
To the south of Córdoba lies Mendoza, nestling in the foothills
of the Andes. It is the fifth largest wine producing region in the
world and as such draws crowds of wine enthusiasts keen to
experience part of the process. It is also a beautiful city,
perfect as a base for outdoor enthusiasts to enjoy the plethora of
mountain experiences such as hiking, mountaineering and skiing.
Prices can vary from as little as £32,000 ($63,300) for a small
three-bedroom country house, to around £60,000 ($118,600) for a
small townhouse, to over £200,000 ($395,400) for a large townhouse
with a pool.
San Carlos de Bariloche
Further south along the Andean foothills lies the town of San
Carlos de Bariloche on the shores of the Nahuel Huapi Lake.
Resembling a Swiss village, Bariloche is often called the St Moritz
of the Andes due to the phenomenal skiing available in the nearby
Cerro Catedrale ski resort. This resort is South America's first
and largest, and enjoyed high levels of investment and expansion
during 2006 that increased its capabilities. Bariloche is a prime
investment location due to its high popularity and the fact that it
is popular all year round. Being in the southern hemisphere,
Argentina offers fantastic skiing when the northern resorts are in
the height of summer, and when the snow has receded up the Andean
mountains, Bariloche makes for a charming summer mountain and
lakeside holiday destination. Occupancy is high for the majority of
the year thanks to the two high seasons. A four bedroom house
within close proximity to the resort can be found for just over
£70,000 ($140,000).
Patagonia
There are many other areas that are worth a second glance,
especially considering the rising popularity of range-style
holidays. Various Argentines and expats alike have established
resorts that offer tailored trips for fishing, hiking and horse
trekking, to name but a few. Some development companies are selling
plots of land in the more remote areas such as Patagonia to
investors in order to cash in on the Argentine's predilection for
adventure holidays away from the big cities.
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