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Under Clear Skies, LAN, Aerolineas Resume Daily Flights to Bariloche Today

On January 13, 2012, In tourism, by InvestBA
Regresan los vuelos a Bariloche tras 7 meses de cenizas

LAN is one of three airlines resuming flights to Bariloche today after a 220-day suspension.

The New Year is getting off to a good start for the region of Argentina that probably deserves it the most. After a dismal 2011 tourist season caused by the ash clouds from a Chilean volcano, the major carriers are all set to resume daily flights to Bariloche today.

La Nacion reports that Aerolineas, Austral and LAN will resume flights to Bariloche this morning after 220 days of suspended service. The first flight will depart at 11:00 from Aeroparque Jorge Newberry in Buenos Aires. Both LAN and Aerolineas officials confirm the decision to resume flights was based on the fact that current meteorological conditions fall well within international safety standards.

“This decision was based on an exhaustive analysis of official data from authorities as well as measurements taken by private parties which all indicate the current levels of concentration and density of the volcanic ash remaining in Bariloche are compatible with the safety policies of the company, as well as the international safety standards of the aircraft manufacturers,” said one LAN official.

Airline passengers arriving in Bariloche today will be the first to experience the terminal enhancements at the Bariloche Airport. Beginning last October, the City of Bariloche took advantage of the flight suspension and invested $US60 million to remodel the terminal and improve the runway to Category Plus 1, the highest level in Argentina. (Full Story in Spanish)

For more information about travel and investment opportunities in Bariloche, download the new issue of InvetstBA Privada.

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Mendoza, Córdoba Top Interior Rent Hikes

On March 4, 2011, In real estate, by InvestBA
Mendoza

Mendoza posted the largest increase in average rents from 2009-2011 followed by Cordoba.

Mendoza and Cordoba are the two cities in Argentina’s interior that posted the largest increases in residential rental rates according to a new report by Reporte Inmobiliario. An analysis of all major Argentine metros focused on the average rent for an existing two-room apartment in January 2009 and January 2011.

Mendoza led the ranking with a 55% increase, although the percentage was probably closer to 60% as data for Mendoza focused on an 18-month window. Average rents in Mendoza rose from $770 pesos in July 2009 to $1,195 in January 2011. Cordoba took second place with a 51% increase over the two-year period. Two-room departamentos cordobeses rented for an average of $800 pesos in 2009 and now fetch just north of $1,200. Other northern cities posting two-year, double-digit gains include Santa Fe (48.6%) and Corrientes (47%) where average rents rose to $1,100 and $1,090, respectively.

And while northern cities are posting the largest gains in average rents, cities in Southern Argentina are still posting strong double-digit gains. Río Gallegos posted a 32% increase ($870 to $1,150 pesos), Cipolletti rates rose 27% ($920 to $1,170) and Comodoro Rivadavia rents jumped 26.8% ($1,190 to $1,510) making CR the most expensive rental market in Argentina’s interior followed closely by Bariloche where the average two-room apartment listed for $1,440 pesos in January 2011.

In terms of affordability, Gabriela Origlia reminds La Manana de Cordoba readers that the highest private sector salaries are paid in southern provinces like Santa Cruz, Chubut and Neuquen where average salaries are twice the national average of $3,700 pesos. Conversely, salaries in Northwest and Northeast Argentina are much lower than the national average making housing affordability a more pressing issue. (Full Story in Spanish)

For more information about investment opportunities in Argentina, download the new issue of InvestBA Privada.

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Foothill Foothold: Bariloche Real Estate Attracts Year-Round Buyers

On September 28, 2010, In foreign investment, real estate, tourism, by InvestBA
Bariloche Casa

A 4-bedroom home in Bariloche listed for US$240,000, roughly one-tenth of a similar-size home in Aspen.

As winter turns to spring in Argentina, ski and snowboard fanatics are enjoying the final days of the 2010 Season in Bariloche, San Marti­n de los Andes and Villa La Angostura.

Heavy snowfall this month made for ideal conditions and helped resorts like Chapelco push season’s end to early October. So when the snow stops falling next month, will tourists and investors lose interest? Not likely, says Laura Henderson in a new Financial Times House & Home article.

In “Foothill Foothold” Henderson describes the year-round appeal for outdoor enthusiasts of not just San Carlos de Bariloche, but the entire Lakes region extending north across Nahuel Huapi Lake to Villa La Angostura and San Martín de los Andes in the north.

“Wealthy Argentines already enjoy Patagonia’s wild open spaces,” writes Henderson adding, “Now Americans, Brazilians and Europeans are gaining a foothold, lured by favourable prices, upscale homes on a par with those found in Aspen or Whistler for 50-60 percent less,  a tax-light regime and a buoyant rentals market.”

Scanning through property listings in the region, the 50-60 percent estimate may be a tad conservative when you consider new construction condominiums can be found in the Patagonia for US$70,000 and large single-family homes purchased for US$250,000. With one bedroom condos in Downtown Aspen selling for $1.5 million and West Aspen homes fetching US $3-4 million, the Colorado:Argentina discount is probably closer to 90%. (Full Story)

For more information about Argentina real estate opportunities, visit our archives or download the new issue of InvestBA Privada.

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Fasten Seat Belts: Why Latam Airlines Will Be A Game Changer

On August 29, 2010, In a-bric, competitiveness, foreign investment, tourism, by InvestBA
Lan Tam Airplanes

When Cueto Met Amaro: In the works for 7 years, the Latam merger will shake up the regional landscape.

When Chile’s LAN and Brazil’s TAM, two of Latin America’s most efficient and profitable carriers, announced plans to combine operations, the headlines trumpeted the superlatives: the region’s largest fleet, 115 destinations in 23 countries, $8.5 billion valuation, $400 million in annual cost savings, and the list goes on.

But the combined operations and creation of Latam Airlines Group (LAG) trumpeted in the global financial press has been downplayed here in Argentina, and Carlos Manzoni of La Nacion tells us why. “The merger will be a blow to Aerolíneas Argentinas (AR), because Aeroli­neas will have to compete with (Latam) in the two most important routes they have: Chile and Brazil. They are going to lose market share when they should be gaining ground.”

If Argentina decides to makes life more difficult for Latam, Manzoni says, the new carrier can retaliate in a few different ways. TAM could stifle the flow of Brazilian tourists to Bariloche during ski season by routing flights to Valle Nevado in Chile instead. Likewise, LAN could opt to shut down trans-Atlantic service from Ezeiza to Europe, and channel those flights in and out of Sao Paulo instead. Either way, it will be a new airline landscape where Latam dominates as the big continental carrier, while small regional airlines like Gol and Pluna continue to gain market share exploiting the low-cost niche.

In closing, Manzoni says the courtship between the Cueto (LAN) and Amaro (TAM) families has been ongoing since 2003. Now that the nuptials are pending, let’s see if old regional flames try to spoil the honeymoon. (Full article in Spanish)

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In Buenos Aires, Winter Goes Out with a Retail, Tourism Bang

On August 4, 2010, In a-bric, buenos aires events, foreign investment, tourism, by InvestBA
Dot Baires Shopping Center in Buenos Aires

Shopping centers like Dot Baires are packed with locals and tourists in a buying mood. (Photo: E. Gallelli)

When we look back on 2010 in Argentina from an economic standpoint, the year will be remembered for some key trends that helped lift the country out of the doldrums of 2008/09: consumer confidence, retail spending, housing demand and the record influx of tourists, both domestic (notably BA for the Bicentennial) and international.

And while we’re still months away from closing the books on 2010, Alfredo Sainz of La Nacion says all of these factors are peaking simultaneously to send winter out with a serious bang of discretionary spending.

“The combination of low temperatures,good macroeconomic signals, purchases delayed for two years, the lack of saving alternatives and a massive flood of Brazilian tourists all combined to make the perfect recipe for winter vacations and winter 2010 in general,” writes Sainz adding, “From the shopping centers, the multiplexes, the clothing stores, the tourism agencies and the airlines, this winter season has been the most successful of the last three years.”

Retail sales are up 20-50% at Dot Baires, Alto Avellaneda, Paseo Alcorta, Abasto and Unicenter; box office ticket sales are up 65%; and the 20% bump in tourists has pushed average hotel occupancy rates to 90%. On the transportation side, Aerolineas Argentinas just announced a 30% increase in July traffic and a whopping 240% increase in traffic from Brazil.

And in a clever case of making limonada out of limoes, the country’s early exodus from the World Cup prompted TAM to divert some originally-scheduled South Africa routes down to the ski slopes of Bariloche. (Full Story in Spanish)

For more information on Buenos Aires shopping and luxury living, download the new issue of InvestBA Privada.

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