Accommodation in Argentina

Expats moving to Argentina will find it relatively easy to both buy and rent accommodation in the country.

Buying property in Argentina

Foreigners have the right to purchase both property and land in Argentina, as outlined by article 20 of the Argentine Constitution. Though, expats should note that the finer details can differ from province to province. In Patagonia, for example, there are some restrictions on foreigners buying real estate, particularly on property located close to the Chilean border.

At present it is not necessary in most areas to have a residence visa in order to purchase land or property; however, if expats wish to move permanently to Argentina with household effects, you will be required to pay a Customs Bond and yearly ‘guarantee’ on the goods until you have a permanent residence visa.  Foreigners will probably pay a considerable premium when purchasing real estate, but this ‘gringo’ factor applies to anything, from buying a car to employing a plumber.

Argentina’s housing market took a real upturn after 2002, as the economy slowly started to recover from the financial crisis, with the help of an influx of foreign dollars. However, the mortgage market remained severely depressed and now the majority of real estate transactions use cash – usually US dollars.

This has the effect of insulating the market against interest rate changes, so that huge rises and drops in property prices are unusual. The global property downturn was exacerbated in Argentina by the effects of the swine flu virus that hit the country hard at the end of 2009 and led to a big decrease in tourists and a decline in property sales. 

Renting property in Argentina

Renting accommodation in Argentina is not difficult anywhere, although as an expat you should expect to provide some sort of collateral, or have a guarantor. Some landlords will accept larger deposits in lieu of collateral, but foreigners will pay a premium over that paid by locals.

Dubbed the ‘Paris of South America’, Buenos Aires is a dream when it comes to house hunting - from studio flat and villa rentals in the centre of Buenos Aires, to buying an estancia (estate) on the outskirts of the city. 

Gated communities for wealthy Argentines and corporate expat employees are becoming popular. Elsewhere the choice is endless – consider a smart family villa located next to the golf course in hilly La Cumbre, Cordoba;  a Swiss-type chalet in Bariloche in the beautiful lake district to the south; or even a 40-acre vineyard in Mendoza to the west.  The range – to suit both dream and bank balance, is endless.