South American Real Estate News
/ Month / December

Brazil’s new President Jair Bolsonaro takes over

On January 1, the newly elected president of Brazil will take office with his chosen group of ministers, officially ending 16 years of left-wing government by the PT (Workers’ Party). Undoubtedly, there will be radical changes. This huge country (larger than Australia but a whole lot greener) has great natural resources – reflected in the naming of one of its largest states “General Mines” – and is a successful exporter in everything from soya beans and coffee to vehicles, commercial aircraft,…

The Vestey Meat Empire in South America

The Vestey Brothers were once the largest meat retailers in the world The company once controlled one-third of the refrigerated storage capacity in Britain and two-thirds of multiple butchers shops. It accounted for 20 percent of all meat imported into Britain. Origins and early growth William Vestey (1859 – 1940) and Edmund Hoyle Vestey (1866 – 1954) were born to Samuel Vestey, a Liverpool provisions merchant. William Vestey William Vestey was sent to Chicago to scout for opportunities in 1876. He was…

La Candelaria Castle in Lobos, Buenos Aires

In 1840 Don Orestes Piñeiro (pharmacist) had bought his first farms in the area of Lobos, around 100km from Buenos Aires city. The castle itself was designed by the French architect Alberto Favre hired by Manuel Fraga, who was impressed by a similar one he saw in France, on the banks of the Loire river. He hired the best workman available at that time, bringing all the necessary materials from Europe. Construction started in 1894 (it took approximately 5 years) and has a size of 1200 m2.  The family then…

The facade of the De Ridder mansion on Alvear Avenue in Buenos Aires during its expansion, around 1927

Fuente: Archivo – Crédito: Archivo de Maud De Ridder de Zemborain In Buenos Aires golden age, Alvear Avenue was Frenchified, an idea based on the aesthetics of large residences preserved along with its short six blocks that, with few exceptions, recreated in Beaux-Arts style of the Ancien Régime. The culmination of its axis is the great dome of the old residence Ortiz Basualdo, the current French Embassy, to which the Plaza Carlos Pellegrini with its monument by Jules-Félix Coutan serve as a setting,…

Argentina’s rail network is being rebuilt

By the switch back to rail, transportation costs have reduced by an average of 55%. The new trains will quintuple current capacity. The National Government will reactivate around 10,000 kilometers of railroads with an investment in the order of USD 9,000 million that will generate 70,000 jobs, reactivating and boosting the freight railroad, in addition, open a new operating system for freight trains. With the entry of the new system, expected from 2023, it is projected to increase the load potential of the…

Argentine will again be one of the worlds largest exporters of meat in 2019

According to a CREA report, shipments abroad could grow 16% during the next year. They should total 600,000 tons. 60% would go to Asia According to CREA, which presented its projections for 2019, Argentina would again be one of the top five meat exporting countries worldwide, given that it expects a similar growth to 2018 with a reasonable climatic year and continuing growth of exports. However, it was indicated in the report, “it is expected that the national reduction in the supply for domestic consumption,…

China’s Conquistadors Are Marching Across Latin America

When two elephants fight, it’s the grass that suffers. Or so says the old African proverb. But in Latin America, the grass seems to be doing rather well from the ongoing jostling between the US and China. In August El Salvador was the latest in a string of Central American countries to switch diplomatic relations from Taiwan to China. In Panama, US protests managed to prevent the opening of a new Chinese embassy on the mouth of the canal but with 26 diplomatic agreements signed in the last year, it is merely…

Excellent Rains in Argentina’s soybean belt give expectations of a bumper 2019 harvest

Unlike last year the rains has been good in key parts of the Pampas including northern Buenos Aires, and southern Cordoba, Santa Fe, and Entre Rios provinces Rainstorms are sweeping Argentina’s soy belt, building soil moisture needed to guarantee good yields when crops blossom in February and providing some cushion for China to buy should its trade war with the United States continue to limit U.S. supplies. Bolstered by strong showers in key parts of the Pampas farm region, which meteorologists expect to…

Sebastián Piñera tries to put Chile back on track

A former president returns, with reforms on his mind In his first term in the Moneda palace between 2010 and 2014, Sebastián Piñera, a billionaire businessman of the center-right, oversaw rapid economic growth but failed to inspire popular affection due to a lack of charisma. After an interlude in which Chile swung left under Michelle Bachelet, Piñera has been back as president since March. Second terms often disappoint—Bachelet’s did—but Piñera says he has learned from experience. “There’s no…

Residential Properties prices fell in USD terms for the third consecutive month in Buenos Aires

The consequence of lower demand is affecting the more affluent suburbs. Suburbs such as Puerto Madero, Retiro and Colegiales are now worth slightly less. The lower demand has also lowered the profitability of rental properties. The prices in US dollar terms of apartments in the Federal Capital appear to be in decline. In November, although minimal (0.3%) the accumulated another fall against October and, thus, closed the third consecutive month of decline, according to a report of the site of purchases and…

IN ARGENTINA THE UPPER CLASS DOMINATED RURAL LAND OWNERSHIP

image of Arquitectura Francesa en Buenos Aires
Towards the end of 18th century, the ruling class had already consolidated it position, commonly referred to as  “Argentines oligarchy”. It is a group of families who own massive amounts of land, dedicated, especially, to livestock production, in the humid Pampa of Buenos Aires, as well as financiers and large merchants linked to export and import, as well as large producers in some other provinces. Unlike English colonies these mega-farms where never broken up by their socialist governments.…

Chile drives into the future with largest electric bus fleet in Latin America

President Sebastián Piñera on Thursday unveiled the first 100 electric buses from China that will run on Santiago roads as part of an ambitious plan to revolutionize public transport system in the South American country. The 12-meter-long buses will allow the mobilization of up to 81 people – 30 seated and 51 standing – providing them a silent and pollution-free journey. Other features highlighted by the president is the Wi-Fi and free USB ports on the buses. Piñera each vehicle will have enough capacity…

Fitch: Paraguay, only one step away from reaching Investment grade

The Fitch Investment Grading company improved Paraguay’s credit rating so it is now positioned only one category below investment grade. For financial analysts, this consolidates Paraguay’s international image in the investor world. The new rating of Fitch ratings, which was announced yesterday, is Paraguay in “BB +”. In 2017, Moody’s already ranked our country in the same category as its scale, while following two of the investment grades in the latest Standard & Poor’s…

Will Argentina’s Troubled Economy Recover Next Year?

This year, Argentina’s economy unexpectedly experienced a currency rout and financial market distress that forced the government of President Mauricio Macri to seek a massive and unpopular $57 billion backstop from the International Monetary Fund, ushering in a period of fiscal austerity and sky-high interest rates. What happened? Will 2019 bring calmer waters for Argentina, or are new surprises around the bend?  What is the outlook for Argentina’s key economic indicators in the year ahead, and what factors…

Good news for Uruguayan dairy farmers: exports up 17%

Uruguay’s exports of dairy products between January and November were worth 636 million US dollars, which represents a 17% increase compared to the same period last year, the National Milk Institute (INALE) announced Monday. Milk powder and butter were the products behind such a significant improvement, according to the INALE. The INALE report, based on records from the National Customs Directorate, showed that the main destinations for Uruguayan dairy this year were Algeria, (31%), Brazil (22%), Russia…