The Argentine real estate market has aroused strong interest among Chilean investors due to the low prices of departments. According to the media and experts in the real estate sector, prices have never been as affordable as they are today, which has generated an increase in the demand for properties by Chileans.
In an article published by the newspaper Las Ultimas Noticias, it is highlighted that in the city of Mendoza, for example, it is possible to find one-bedroom apartments starting at USD 60,000, which is equivalent to almost 49 million Chilean pesos. However, it is important to note that to access these prices in Argentinait is necessary to make the payment in dollars and in cash, since the owners prefer to protect themselves from the constant inflationary changes.
Although the article specifically mentions Mendoza, most of the inquiries from Chilean investors focus on the Autonomous City of Buenos Aires (CABA). According to Felipe Engdahl, a Chilean businessman and owner of Property Partners, a real estate agency, many investors are interested in acquiring departments in CABA for values ranging between USD 150,000 and USD 300,000, with the aim of putting them up for rent and obtaining long-term profitability.
Engdahl points out that property prices in Argentina they have reached levels similar to those of 2002. However, it is important to mention that most transactions must be made in cash and with dollars. Although prices vary by province and property type, the downward trend has been going on across the country for a long time.
It is important to note that there are no legal restrictions for Chilean citizens to invest in departments in Argentina. They can make the purchase directly in cash in dollars, from an account abroad or by opening a bank account in Argentina. Some requirements, such as having a DNI and/or CUIL, must be met, but there are services that can facilitate the process for foreign investors.
