Libertador 4444 View

Palermo view from a US$2.5 million penthouse residence on Avenida Libertador in Buenos Aires.

With looming tax hikes, rising real unemployment and falling property values at home, many foreign buyers continue to look to our corner of the Southern Cone for unique real estate properties ranging from condominiums to single-family homes and vineyards to estancias, writes Annabella Quiroga in today’s iEco.

And while there is always an influx of foreign travelers and potential buyers to Buenos Aires, Argentina and Uruguay, high-end brokers have the added challenge of marketing über-lujoso listings that may only be within the reach of a select few. On the sell side of the equation, the listing process is made even more challenging when local sellers refuse to publish their asking price. For example, Quiroga says one of Sotheby’s “most spectacular” listings is a 40,000 square foot, 9-bedroom French mansion called the Club de Campo Abril, but the confidentiality agreement signed between broker and seller keeps the listing price under wraps until qualified buyers can be identified.

The divide between local seller and foreign buyer can also be a product of local sellers believing they can pad their prices for unsuspecting foreign buyers. Think again, says Quiroga, as greater transparency and online access to information helps foreign buyers stay informed with the status quo in Argentina both in terms of real estate prices and the broader macroeconomic situation. (Full story in Spanish)

For more information about real estate opportunities in Argentina and Uruguay, download IncomeBA and the new issue of InvestBA Privada.

Polo Anyone? This BA listing features several outdoor amenities including 7 Class A polo fields.

Polo Anyone? This BA listing features several outdoor amenities including 7 Class A polo fields.

A property in Buenos Aires is now the most expensive listing in South America but, interestingly enough, the house may not be the biggest attraction for potential buyers.

Spread out over 185 acres in the Buenos Aires neighborhood of Pilar, the La Felicitas Polo Club features the 29,000 square foot main residence, a 6,400 square foot clubhouse, two stables, a tennis court and a 12 acre lake suitable for aquatic sports. The listing’s finest amenity, however, may actually be the seven Class “A” polo fields which have served as the site of several tournaments in recent years.

Sotheby’s Argentina describes the property as being “built with the highest standards” and possessing “everything necessary to provide guests with maximum comfort.” Visitors and media outlets describe the property as vast and deserving of a car or helicopter for proper orientation.

While it has yet to be included on the Forbes annual property ranking, La Felicitas tops Argentina’s last listing superlative, a $12.9 million estancia in Chubut Province, by almost $10 million. In comparison, the next most expensive listings that Sotheby’s currently promotes in Buenos Aires are a $2.4 million, three-story home in Barrio Parque adjacent to the parks of Palermo followed by a 4 bedroom residence in Belgrano Chico for $1.5 million.

For more information about Buenos Aires real estate opportunities, download IncomeBA and the new issue of InvestBA Privada.

 

Bariloche

Mendoza

Uruguay

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