Accommodation in Argentina
Expats will find it relatively easy to both buy and rent accommodation in Argentina. The country’s economic instability has translated into competitive property prices across the board. There is a wide range of options to choose from, and expats should have little difficulty finding a place to suit their budget and tastes.
Types of accommodation in Argentina
There is an incredibly wide range of accommodation available in Argentina. Gated communities for wealthy Argentinians and corporate expat employees are becoming popular, whereas elsewhere the choices are practically endless. Expats can choose from smart family villas in hilly La Cumbre, to Swiss-style chalets in Bariloche to the south, or even 40-acre vineyards in Mendoza to the west. The range is wide enough to suit both your dreams and your bank balance.
Renting accommodation in Argentina
Renting accommodation in Argentina is not difficult anywhere in the country, and can be done on either a long-term or short-term basis.
Expats will most likely need a guarantor who owns property in Argentina and can take financial responsibility for any damage incurred by the tenant. Expats who don’t know of a feasible candidate need not worry though, as there are many apartment brokers in Argentina who cater exclusively to foreigners looking to rent.
Some landlords in Argentina will accept large deposits in lieu of collateral or a guarantor, though foreigners will generally pay a premium on top of the price that locals would pay in the same situation.
Buying property in Argentina
Foreigners have the right to purchase both property and land in Argentina. Expats should note that the finer details can differ from province to province. In Patagonia, for example, there are restrictions on foreigners buying real estate, particularly on property located close to the Chilean border.
It is not necessary in most areas to have a residence visa in order to purchase land or property; however, expats wishing to move permanently to Argentina with household effects will need to pay a Customs Bond and a yearly ‘guarantee’ on the goods until they have a permanent residence visa.
Argentina’s housing market took a real upturn after 2002 as the economy slowly started to recover from the financial crisis, largely as a result of an influx of foreign dollars. However, the mortgage market remained severely depressed and now most real estate transactions use cash, usually US dollars.
This has largely insulated the market against interest rate changes, so huge rises and drops in property prices are unusual.