Sunday, December 1, 2013

The Cost Of Owning Property In Argentina

A potential expat recently asked me how much it would cost to buy property in Argentina. So I decided to do some research and this is what I discovered.
The Cost Of Owning A Home
The cost of an affordable middle class home will run you about 500,000 pesos minimum, which is about 81,860 U.S. dollars. Some homes can cost over a million Argentinean pesos, which is approximately 163,720 U.S. dollars.

Realtors vs Banks
I highly recommend that you buy from a realtor, (called an inmobiliaria in Argentina), in lieu of using a bank to buy your home. A realtor can enhance the value of your U.S. dollars from the average 6 pesos per USD to about 7 or 8 pesos per USD. This enhanced dollar value is known as “Dolar Blue” here. This will significantly reduce the cost of the property you want to buy in U.S. dollars. The enhanced dollar process itself is called “cotizar”. Keep that in mind when dealing with the realtor. You can handle the negotiation and purchase of your property with the realtor from the States via phone or e-mail, but I would strongly encourage you to visit Argentina and the different neighborhoods first before buying property. You never want to go in blind. Plus, if you have children, you’re going to want to take a look at the schools in the area. I highly recommend avoiding public schools here, at least in Cordoba. The private schools are a lot neater and more organized.
Best Neighborhoods In Cordoba

Here are some of the best neighborhoods (barrios) to live in if you move to Cordoba.
·         Barrio Crisol

·         Barrio Maipu

·         Barrio Ayacucho

·         Nueva Cordoba
You can also buy property further north in Cordoba, like in “Cerro De Las Rosas”, but it’s much more expensive there.

Neighborhoods To Avoid When Buying Property In Cordoba
·         Alta Cordoba – Once a high class neighborhood, this area has slowly gone downhill. There have been reports of a lot of theft and assaults in the area

·         Barrio San Vicente – It’s not safe at night. There are a lot of break-ins.

·         Barrio Colon – It’s okay but you risk the occasional graffiti being spray painted on your walls and you can’t risk parking your car outside overnight. It will either get vandalized or stolen.

·         Barrio Rivadavia – Same explanation as Barrio Colon

Buenos Aires
If you’ve read my recent entries about my two trips to Buenos Aires this year, you might be encouraged to buy property in the capital of Argentina. I’d like to point out that while I was never a victim of a crime there, some expats and natives alike have claimed that it’s an unsafe area, especially when there are political uprisings and protests. If you choose to move to the capital anyway, then I recommend that you stay within the area known as “La Caba”. Think of this area as the equivalent to Washington D.C. Some expats and Argentineans have reported that the area beyond “La Caba” is considered dangerous. Think of “La Caba” as Manhattan, and the rest of the Buenos Aires region as Brooklyn and the Bronx.
Renting A Home Or Apartment
If you choose to rent, then you’ll find that the price range for a decent home will cost anywhere from 2,500 (409 USD) to 4,000 (654 USD) Argentinean pesos a month. I recommend Nueva Cordoba as it has several condos and apartment complexes. The area is near the downtown area (The Centro”) where you’ll find several shopping centers, McDonald’s, Burger King, theaters. Starbucks, and bookstores. Nueva Cordoba also happens to be a popular choice for expats and international students.
Check The Classifieds
I’d advise that you check the classifieds from the Argentinean newspaper, La Voz Del Interior. This website will provide you with photos of the property, price ranges (in some cases), and realtors/inmobiliarias to contact. Here is the link to the classifieds for La Voz Del Interior.

http://www.clasificadoslavoz.com.ar/search/apachesolr_search/cordoba?filters=tid:6330

As a final recommendation, it would be a good idea that you get a basic concept of Spanish and learn the differences between Argentinean Castilian versus other forms of Spanish commonly heard in the U.S. You’d be surprised how the most subtle of differences can result in a huge misunderstanding here.

Below is a link to an article I wrote describing the differences between Argentinean Castilian and other Latin American Spanish.
http://gayamericaninargentina.blogspot.com/2013/11/argentinean-castilian-vs-latin-american.html

8 comments:

  1. Just something you may want to add to your post. CABA stands for Ciudad Autonoma de Buenos Aires-- which is the capital itself. The provincia especially the area surrounding the city (also called the Conurbano or suburbios) can have some very nice areas to live as well. I think most ex pats would be interested in living in the city just because of all of the events and beautiful buildings. But if they have a family there are a lot of barrio privados or closed neighborhoods outside of the city that may interest them. These are more pricey but if you have American dollars it is probably feasible. Personally, I found "Zona Norte" or the northern suburbs of Buenos Aires to be a great place to live. If I move to BA, I am thinking about finding an apartment there. There are middle and upperclass neighborhoods that dont have the noise/ crime of the capital itself.

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    1. also hope you dont take offense to my corrections! Just trying to add a little information you may not know since you are based in Cordoba. I really enjoy your blog/ perspective on life in Argentina.

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    2. Hi Grace! Thank you so much for your comments and your input. I appreciate it and I welcome it now and in the future! Thanks again for your support!

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    3. Good to hear! I am so interested in your blog because I really would like to move permanently to Buenos Aires in the next few years. I studied there for 5 months in 2012 and then went back to visit for 2 months this year. But I am working in the USA to pay back my college loans before I would be able to move to Argentina.

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    4. Well that sounds great! Keep me posted on your progress. It would be nice to have a friend in Buenos Aires to come visit and you'd always be welcome to visit here in Cordoba. Don't let the recent craziness that happened here scare you. After two days of looting, the cops were reinstated and everything went back to normal. I was walking the streets the other day and it was as if nothing had happened.

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    1. Thank you so much! I'm glad you enjoy my articles. Happy Holidays!

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