The Argentine Investment Property Boom
An aromatic blend of European chic and rich Latin American heritage is an unlikely, quirky pairing but one that has proven strangely successful this second time around.
Once considered one of the most stable countries in the complicated, fragile southern Americas, Argentina's spectacular fall from grace left its property market in freefall for several years. Now however, Argentina is riding a second wave of European investment with financiers willingly injecting money into a country which little over five years ago was a crumbling shell of its normal, vibrant self.
Then, front pages told stories of looting and destruction of property. Homes and businesses were lost and land abandoned as the aftershocks of economic implosion resonated throughout the country.
Today, prime waterfront real estate is a supremely desirable commodity and available for a tenth of the cost of comparable properties in America or Europe.
New properties are plentiful and boast all of the modern conveniences and luxury living you'd expect to find in the world's eighth largest country. The architecture has a European flavour, with wide tree lined esplanades and cobbled streets sitting side by side with Michelin standard restaurants and rolling, fertile grasslands.
Argentina's blend of old and new, of city and country, European and Latin really does offer something for everyone and its booming property market reflects this. The rental market in particular is proving to be a real emerging force as tourists slowly begin to rediscover all of the charms inherent in Argentina and its people.
Those scared off by the economic and political insecurity at the beginning of the decade are once again looking towards Argentina. Buenos Aires in particular is booming - the Puerto Madero neighbourhood is fashioning itself on the redeveloped warehouses of Manhattan's Meatpacking District, attracting property investors with ultra chic loft conversions. These fashionable residences are already proving popular with British investors looking to add a Latin American flavour to their portfolio.
Used to the convenience of European living, the new patrons of resurgent Argentina are young professionals easily won over by the cosmopolitan nature of the city and the wealth of schools, health services, public transport, bars, restaurants and leisure facilities which lay within easy reach.
For those looking for a slower pace of life, Argentina too has succumbed to the booming golf tourism market. Embraced with a zeal you'd only find in Latin America, the game is a recent import to the country but has already spawned state of the art country clubs and championship standard golf courses which are rapidly becoming a force to be reckoned with.
The San Eliseo Golf and Country Club is one of the finest golf courses in South America and offers the best tennis facility in Buenos Aries. It is exactly this juxtaposition of town and country so typical of Argentina that makes for great property rental prospects.
Set in 253 hectres, San Eliseo is a luxurious residential community with world class facilities. The construction and commercialisation of the resort has been overseen by a development board backed by European and American investors, offering a reassuring safety net for new investors or investors new to the area.
As befitting its fledgling status, property prices are very reasonable and within reach of the first time overseas buyer. Properties in San Eliseo start at just 56,000 US dollars with rental income projected at around 1000US dollars a week in high season.
Head further out of town, and rambling vineyards in the Valle de Uco can be snapped up for as little as 80,000 US dollars. Offering staggering development potential, the vineyards benefit from Argentina's rich fertile soil, hours of sunlight and a thriving wine industry overseen by some of the most respected names in the business.
Related Tags: overseas property investment, investing in property, buying property abroad
Find out more about investing in Argentina at http://www.davidstanleyredfern.com
David Stanley Redfern is the director of David Stanley Redfern Ltd, an overseas property specialist. David works closely with developers in more than forty countries and oversees the David Stanley Redfern Ltd. education programme which lectures individuals and organisations on property investment. David Stanley Redfern Ltd is AIPP accredited.
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