Argentina Real Estate Buyers Seek Sunshine State Bargains

Argentine buyers are choosing Florida condos and townhouse projects like this for a variety of reasons.

Back during the go-go days of the Florida real estate boom, many Latin American cable subscribers were bombarded with round-the-clock programming and cheesy infomercials like Viva Florida pumping the you-must-buy-now-deal-of-the-century-luxury-lifestyle-and-resort-style-amenities in high-rise towers and gated communities throughout Central and South Florida.

When the market began to implode in 2007, many of those foreign buyers who reserved units got burned and either walked away from their deposits or took possession of units that lost anywhere from 30-80% of their value from the market peak in 2006.

Fast forward to today and Florida Trend says developers of high profile towers like Icon Brickell and Everglades on the Bay are now turning over thousands of unsold units to their lenders. Yet despite the market turmoil and the average U.S. buyer’s reluctance to jump back into the pool of real estate speculation, media sources say Argentinean buyers are doing their market research and coming to the Sunshine State in search of great deals on Florida real estate.

ElArgentino.com says most Argentineans still gravitate toward condominium investments: some in search of rental income, others seeking portfolio diversification and still others doing long-term planning in hopes their children will eventually study in the U.S. But condos aren’t the only properties attracting el inversor argentino in Florida. The report says Argentinean investors are now carefully weighing everything from townhouses to residential buildings with 4 or more units to small shopping centers and other commercial properties.

With improving sales figures and some recent indications of price stability, the prospects may ultimately be brighter for those argentinos who waited. For more information regarding Florida real estate opportunities, contact us directly.