Argentine Peso Devaluation Deepens With “Brick Rates” Reaching $10

Patrick Archer average prices, real estate

Argentine peso devaluation accelerated this week with the ARS posting its largest one-day decline in a decade yesterday falling 3.5% to 7.14 pesos per US dollar, and unofficial rates like the Blue and the Brick are following suit. Just two months ago the Brick dollar, the intermediate rate often used for real estate transactions, was trading between $7.70 for new …

What Were The Best Performing Investments In Argentina?

Patrick Archer agribusiness, competitiveness, foreign investment, real estate, visionaries

Now that 2014 is underway, we are already scanning the horizon for the best real estate investment opportunities in Argentina and Uruguay; however, we will pause today and take one last look in the rearview mirror to see how real estate fared against other local investment alternatives. To assist in our analysis, iProfesional’s Ruben Ramallo compiled a must-read analysis of …

More Buenos Aires Condo Deals Close At Brick Dollar Rates

Patrick Archer average prices, buenos aires events, real estate

A new market survey of Buenos Aires condominium prices shows the rising trend of property owners and renters closing deals at the “dolar ladrillo” or “brick dollar” exchange rate. The ZonaProp analysis of negotiated prices for existing rental properties suggests that more owners are accepting pesos at the brick dollar rate of $8.3 pesos per dollar which is $3.4 pesos …

Buquebank: Argentines Withdraw Millions From Colonia ATMs

Patrick Archer buenos aires events, entrepreneurs, tourism, uruguay

Six weeks ago we learned that sleepy Colonia del Sacramento posted the largest percentage increase in Argentine bank deposits of any city in Uruguay. Now those same Argentine account holders are racking up the Buquebus frequent ferry miles and giving the shiny new ATMs in Colonia’s 27 banks the workout of a lifetime. According to El Pais’ Pedro Ramon Clavijo, …

96% Of Buenos Aires Real Estate Deals Use Unofficial Exchange Rate

Patrick Archer real estate

A new survey of Buenos Aires real estate agents, owners and developers reveals the overwhelming majority of deals in pesos are being closed at rates other than the official exchange rate. According to the report from Mercado and Reporte Inmobiliario, for those Buenos Aires real estate transactions where the buyer purchased a property in pesos, 38% closed using the intermediate …