Argentina Real Estate

Thousands of homes are sold every year, and the vast majority of these sales involve the work of an estate agent. Here's our guide to getting the best from your agent.

"Real Estate Agent" is just another name for "Salesperson"
Don't ever lose sight of that fact. Their only mission is to sell, sell, sell to you. Don't ever let on that you are in a desperate situation, or that you need to buy a house fast, or that you are in a desperate crunch to buy this house now, because you are being transferred into town this week. It's simply none of their business and as far as they are concerned, you are not in a rush to buy a house.

What estate agents do
Estate agents are the 'arrangers' of the property world, carrying out three main functions: valuing, advertising and negotiating.

• They decide how much a home is worth, based on an understanding of the local property market and consideration of the fixtures and fittings.
• They make sure that potential buyers know of the sale by advertising and providing details, or 'particulars'.
• They act as the go-between for buyers and sellers communicating offers and counter-offers between the two parties.

Getting the best from your estate agent
When you're looking for an estate agent, ask among friends for recommendations, and take a look at the boards in the area in which you're planning to buy. Also, have a look at the local press to see who advertises - it will give you an idea of how busy they are.

Estate agents are self-regulated, working under codes of conduct regulated by their professional bodies. Look for agents who are members of organisations such as the Royal Institution of Chartered Surveyors and the National Association of Estate Agents. Some, although not all, agents are also members of the Ombudsman for Estate Agents (OEA) Scheme which guarantees that if you have problems with your agent, you will have a right of redress. Look for the OEA badge on their details.

Although estate agents are usually working on behalf of the seller, they still have certain duties to all buyers.

• They must not mislead buyers about the nature of the property in the particulars that they provide.
• They must treat all buyers fairly, and should not hold back offers in cases where a buyer has refused to use their services.
• When you make an offer, the agent must pass a written copy to the seller, unless they have specified otherwise (for example, that they will not consider offers below a certain amount).

To get more info, go to Argentina Travel.

Argentina Real Estate: Still Holding Up

Real Estate in Argentina

"The real estate market in Argentina has fared much better than the US or Europe over the last year as almost all real estate transactions in Argentina are non-leveraged," said Scott Mathis. "Obviously, sales have stalled somewhat as buyers are waiting to see what happens around the globe but real estate prices have not be hit nearly as hard in Argentina." The private equity company Mathis chairs - DPEC Partners - invests in Argentine real estate.

The Argentine real estate market continues to remain stable for two reasons - lack of credit and paltry investment options, according to Reynolds Propiedades SA. "Argentines have been burnt in the past with anything resembling a bank [as a result of the 2001 economic crisis.]" according to Reynolds. "As such, nationals mistrust Argentine based banks and now, because of the U.S. crisis, have founded fears over U.S. and European financial institutions."

This fear of banks and other monetary markets have translated to a great deal of investment in hard assets such as property. "The preferred investment tier lies in the area of USD 50,000 to USD 150,000 which allows investors to rent these units to local tenants and attempt to satisfy the massive shortage of living space," according to Reynolds.

International buyers have been attracted to the Argentine property sector because of the relatively affordable prices. "You can buy property in Argentina at a fraction of what you would pay in the US and in Europe" said Mathis. "Buenos Aires in the most popular but Mendoza [Argentina's Napa valley] is gaining recognition for its wonderful wine route and stature as making the best Malbec in the world."

There are investment opportunities elsewhere in the country as well. "We see a grand entry opportunity not only in traditional farming activity, such as soy and cattle, but also in alternate crops like vineyards, export plums and walnuts," according to Reynolds Propiedades SA. Ski heaven San Carlos de Bariloche and the town of Cafayate in Valles Calchaquíes are other points of interest.

Buying property in Argentina

While foreigners are allowed to buy in Argentina, there are some restrictions regarding owning land in border areas. "Foreigners are allowed to buy property," said Jamie Schectman owner of Bariloche Vacation Rental (www.barilochevacationrental.com). They have the same rights as Argentineans in most parts. That said, there are some restrictions buying in areas that fall under the Zona Seguridad - "roughly within a 100 kilometer of the Chilean border," according to Living in Patagonia (http://www.livinginpatagonia.com), a blog chronicling the lives of an American couple, Jamie and Shanie Schectman.

However, recent changes to the laws governing such purchases have made it easier to acquire property in that part of Argentina. Non-Argentineans can now buy real estate without much ado as long as the property under consideration is located in an urban or suburban area, is less than 5,000 square meters, and isn't bought for commercial purposes.

Read full text on NuWire Investor.