Since the end of 2011, the Argentine economy
has gone through some changes in its politics and the idea of “pesificar” (make
all transactions in pesos) has been trying to be inserted into the Argentine
minds. One of the ways of accomplishing this was through the prohibition of the
free exchange of currencies (especially dollars). This has caused a great
impact over the real estate business, since all transactions were generally
made in dollars. Currently, the idea of getting dollars for this or any type of
transactions is banishing, so even the same real estate agents are beginning to
implement the idea of “pesificar”. If you were on this situation, would you
sell your property in pesos?
The truth is that the Argentine mind still
thinks in dollars, so if a person wants or needs to sell his/her house, he will
think of doing it in dollars.
Nonetheless, there are many people that really
need to sell their houses, and maybe they have the idea of buying another. If a
person is in this situation of urgent necessity, maybe they have no other
choice than selling it in pesos.
Moreover, if they are planning to buy another property with that money,
you should first check if the seller of that house accepts pesos as well. So,
if you are planning to sell you property and reinvest it in the country, it
shouldn’t be too bad to accept the pesos.
On the other hand, if the intention of
“pesificar” the whole country (and taking the dollar out of the minds of many)
works, having your savings in pesos will not be a crazy idea, either. It is
only a matter of investigating if the economic situation will change and if the
objectives the government has planned become a reality.
To conclude, if you have the urgent need of
selling your property and you are planning to reinvest it in the short term,
there is not much to think about, accepting pesos might not be so bad;
nonetheless, the recommendation might be that you can make a list of the pros
and cons of selling your property in pesos and then decide.
