Buenos Aires New Construction Activity Plummets 85%

Patrick Archer aruba, ba government, buenos aires events, real estate

Eighteen months since the implementation of currency controls intended to protect Argentina’s dollar reserves, new construction activity in the City of Buenos Aires is grinding to a halt. According to new data from the City’s Ministry of Housing, the number of requests for new construction permits fell 84.6% in the first two months of the year compared to the same …

Buenos Aires Developers, Projects Target “Inversumidores”

Patrick Archer buenos aires events, competitiveness, foreign investment, lifestyle, real estate

Two new articles over the weekend emphasize the shifting nature of real estate investment options in and around Buenos Aires. “Creative Products In Times of Crisis” is the title of an interesting market survey in Ambito Financiero’s weekly Real Estate supplement which describes current market offerings as lower priced, “not as popular” (as condominiums), and typically offered with peso-indexed financing. …

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 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 …

Nueva Costa del Plata: The US$2 Billion Dollar “Puerto Madero of the South”

Patrick Archer aruba, foreign investment, real estate

The number of waterfront development mega-projects under construction in Buenos Aires just grew to three, and el tercero will be larger than the first two combined. First there was Solares de Santa Maria, the US$900 million island between Puerto Madero and La Boca. Then came Alrio Vicente Lopez, the US$800 million planned, mixed use development on the north side of …