View full post on Buenos Aires Stay Apartments

View full post on Buenos Aires Stay Apartments

View full post on Buenos Aires Stay Apartments

High quality 3-bedroom Recoleta apartment (best location in Buenos Aires) apartment for sale.

Stunning views of Recoleta Buenos Aires, exclusive to Buenos Aires Stay.

• 125m2

• Expenses 2600 ARS each month

• Price on application
  

Sold fully furnished and ready for rental, we offer a newly refurbished (April 2011) three-bedroom Recoleta apartment, on the tenth floor of a secure apartment block with a large balcony with WiFi and home office

This apartment is a great space with fantastic light and offers, undoubtedly, some Buenos Aires’ most spectacular views.

The barrio of Recoleta is considered one of the most elegant, complete and vibrant areas of Buenos Aires.  We regard this area as safe and one of Buenos Aires’ best centrally located tourist havens with most of the city’s important historical sights in walking distance.

This quality Recoleta apartment affords up to seven guests comfortable accommodation and has some of the best views city from the tenth floor. Marvel the views of three of the city’s most famous landmarks: the Church of Pilar, the Recoleta Cemetery, resting place of Eva (Evita) Duarte Peron and the National Museum.  Just above these spectacular sights is a gorgeous view of the Rio del la Plata.  At weekends, there is an art fair on the lush green squares of Recoleta, displaying wonderful local art-de-object.  This three-bedroom Recoleta apartment offers 125m2, including about 25m2 of outside space and gets plenty of natural sunlight throughout the day, 24 feet of glass and sliding doors, until the sun sets directly facing the apartment.

All three bedrooms have quality King Size beds.  The mattresses are Four Seasons Presidential Suite with 320 thread count Egyptian linens.

The Living Room has two large leather couches. The sliding glass doors enable you to open the dining room and the living areas to enjoy the view looking over Recoleta. The Dining Room Table seats 8 comfortably. A ‘foodie’ designed the kitchen, and it is therefore a cook’s delight – the kitchen is fully equipped with everything you might need to whip-up a quick snack or entertain up to 12 guests for supper. Several sets of dishes, several sets of glass ware and several sets of silver.

There are two full shower rooms and a guest bathroom.

The Business Center has a custom designed desk, high-speed Internet access.
WiFi wireless internet is available throughout the apartment.

Laundry room has a Washing Machine, a hand sink, iron, ironing board, and a vacuum. Maid service is available including daily laundry.

Video:

Map:

Ver High quality 3-bedroom Recoleta apartment en un mapa más grande

View full post on Real Estate & Property Management Guide Buenos Aires, Argentina

It was reported recently in the media that travel website, Tripadvisor, surveyed over 1200 of its North American users and 46% of those travellers surveyed will choose a vacation rentals during 2012.

BA Stay has provided luxury accommodation and services to travellers in Buenos Aires since 2005.

View full post on Real Estate & Property Management Guide Buenos Aires, Argentina

View full post on Buenos Aires Stay Apartments

View full post on Buenos Aires Stay Apartments

What’s really happening in the Buenos Aires real estate market

You may remember that we took issue on reports that seemed to indicate all was well in the real estate market in Buenos Aires.

A national newspaper with usually rather hawkish views reported rapid real estate price increases at the end of last year and at the start 2012 – we told you that we’d seen that ‘game’ before…

We get more than our fair share of complaints about our honest views regarding the real estate market in Buenos Aires – we write for investment clients – they want facts not fiction.

A recent and very interesting article written by Bloomberg’s Camilo Russo supports our view of what’s happening in the real estate market in Buenos Aires.

Real estate transactions in Buenos Aires have fallen to a three-year low. We believe that’s probably just the start unless the government reverses recent legislation that stops peso to dollar exchange.

Although it’s been reported that real estate prices increased by around 8% last year and the average price of a dwelling in Buenos Aires costs US$116,000, that’s probably spot on.

The most important points from the Bloomberg article are:

1. Real estate prices have increased nine out of the past 10 years in Buenos Aires.

2. During that same period, Argentine dollar bonds posted annual losses four times.

3. Fewer transactions do not equal a fall in real estate prices.

That’s what most interesting about the real estate market in Buenos Aires: prices will not fall.

The silly real estate pricing by owners and realtors, which we saw at the end of last year and the start of 2012, no doubt hit the reality barrier.

Having said all that, some foreign investors are running scared and screaming ‘Argenzuela!’ at the top of their voices – I have come across a couple of cash-strapped and more-than-a-little worried foreigners selling their properties at around 10% below the market value to get out quickly. Of course, I had waiting clients – we are always interested in the right deal.

Find out why real estate prices hold their value even when an economy crashes.

In 2009, during a mild recession (cold), the real estate market was dreadful. Better economic fundamentals enabled Argentina to emerge relatively unscathed from its ‘cold’ during the last worldwide economic slowdown.

Today, the poor state of the Argentine economy, which we believe will fall into recession some time soon, is causing Argentines, who do not believe everything is as rosy as President Cristina Fernández de Kirchener states, a great deal of concern.

Albeit, nobody’s 100% clear as to the true economic picture in Argentina – too much smoke and too many mirrors, and nobody trusts Argentina’s ‘official’ economic reporting courtesy of INDEC – it’s a joke.

Bloomberg states the main culprit for the fall in real estate transactions is foreign exchange controls.

Hopefully government will allow peso to dollar exchange for real estate purchases – it’s essential if real estate transactions are to increase.

I think the Bloomberg view correct, but there’s also the fear factor.

Never underestimate the fear factor in Argentina – everyone I speak to thinks that Argentina is about to catch a bad dose of the flu.

The foreign-exchange controls make Argentines fear another corralito – in 2001-02, bank withdrawals were limited to around AR$1,000 a month, saved US dollars were exchanged by law to pesos and then the peso lost 75% of its value against the dollar – ouch! Argentines called this measure the ‘small corral’.

In the real world, the peso has a value of 4.8 (ish) against the dollar. In the real world, inflation has been calculated at 22% over the past 12 months – it’s not the time to be saving in pesos but most Argentines, particularly the poor, have little choice.

In 2001-02 we saw a ‘corral’ and today – well it’s more like a paddock! You can walk around, but only eat Argentina’s rapidly yellowing grass, but you can’t escape the currency controls that seek to ‘pesify’ Argentina!

Argentines cannot buy dollars, even if their money is clean, meaning their earnings are taken white and taxes paid on income. Many Argentines watch in horror as inflation and devaluation erodes the value of their peso savings.

The AFIP (IRS or Inland Revenue) has a remit to help the government protect the value of the peso and stop capital flight. Its restrictions have been very successful – there’s simply a ‘say no to peso to dollar exchange’ policy.

In addition, peso-to-dollar exchange has been forced underground and a very healthy back dollar market (you have to pay between 4.8 and 5 pesos due to the lack of dollars today) probably means Argentines are mattress-banking. Many Argentines I know are certainly hoarding their dollar stash, waiting for what they see as an inevitable crash.

There are a number of reasons why real estate transactions could fall further, but our clients who own real estate in Buenos Aires will hold their nerve. Our experience tells us the real estate market will continue to function in an orderly manner and real estate will hold its value.

Poor governments come and go in Argentina, bricks and mortar are constants and so is real estate price appreciation and good annual returns on investment.

Our real estate owner clients are still making dollar rents – stable real estate prices, good annual capital appreciation and healthy annual returns on investment.

View full post on Real Estate & Property Management Guide Buenos Aires, Argentina