Buenos Aires Real Estate Developers Begin To Accept Payments in Pesos

Patrick Archer aruba, buenos aires events, real estate

pesoficar (PAY · zoh· fee · car) verb  1. the act of converting something into pesos 2. (Argentinean) the process of real estate developers, who have traditionally only accepted payments in dollars, beginning to accept payments in pesos in an effort to counteract the recent slowdown in real estate activity prompted by currency controls which went into effect November 1, 2011. The pesofication …

Buenos Aires Short-term Rental Rates Rise 5-20% Depending On Size & Barrio

Patrick Archer aruba, foreign investment, real estate

An avalanche of new rental rate data came out this week which will interest foreign investors looking to buy and rent apartments in Buenos Aires. How much profit can you make today by renting an apartment to tourists in different Buenos Aires neighborhoods? is the headline of iProfesional’s summary of Reporte Inmobilario’s new study of average rent increases over the past twelve …

Buenos Aires New Construction Permits Down 34% Compared to 2011

Patrick Archer aruba, buenos aires events, real estate

Currency conversion controls that have cooled the purchase of new and existing residential units in Buenos Aires are also forcing some developers to rethink breaking ground on new projects or expanding existing buildings, according to new data from the Ministry of Urban Development. Clarin’s Gustavo Bazzan says Buenos Aires new construction permits in the first quarter of this year were …

Buenos Aires Real Estate Sales Up 13% In March

Patrick Archer real estate

The number of real estate transactions closed in the Buenos Aires Province rose 13% in March, a positive indicator that could boost confidence and serve as a harbinger of a turnaround for the City of Buenos Aires in March as well. The number of real estate sales in Buenos Aires Province was 10,558, a 13% increase over the 9,306 closings …

Buenos Aires Real Estate Closings Decline for Third Consecutive Month

Patrick Archer aruba, real estate

Real estate sales in the City of Buenos Aires fell for the third consecutive month, as the local market continues to feel the impact of US dollar currency controls imposed November 1 of last year. Closings in Buenos Aires in the month of February were down 18% compared to February 2011, according to the new report from the Buenos Aires …