Foreigners sell their properties in Buenos Aires

After almost two years of complications to get dollars, the foreigners that a while ago came to buy an apartment or property in Buenos Aires, now have decided to leave and sell their property. This is what it seems to have happened during the last few months, according to the analysis made in the Real Estate specialists in Argentina.

According to the Media and specialists on the Real Estate business, many foreigners who were interested in buying a property now don’t see it as an option, and those who have already bought a property, are now interested in selling it.

A few years ago, many foreigners came to Argentina, and Buenos Aires, in the search of an apartment with amenities; generally they looked for apartments in the most expensive neighbourhoods or areas of Buenos Aires, like Puerto Madero, Recoleta, or even in the northern area (outside the City of Buenos Aires) like Tigre or San Isidro. What seemed to attract the foreigners about Buenos Aires and its properties was those “classy” apartments with plenty of amenities (like Jacuzzi, sauna, etc.). The nice apartments, together with the convenience of the exchange rate they had in favour, really caught their attention. Today, since it is complicated to get dollars, and the whole world is going through an economic crisis, foreigners have chosen to sell the properties (if they have one here), so the situation has reversed; at least for now.

The Real Estate business situation in Buenos Aires and in Argentina is stuck at the moment, and the unstable economic situation does not help; so, it is matter of waiting and seeing what happens in order to start attracting foreigners who are interested once again in buying properties in Buenos Aires.