Argentine residential market analysis for 2023
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Introduction
The Argentine residential market is one of the most stable markets in Latin America. While the country has been through a severe economic crisis and currency devaluation, it has grown rapidly since 2016. The market is expected to strengthen further in the coming years and Argentina will be one of the fastest-growing BRIC economies by 2050.
Introduction
According to World Bank data, Argentina is the 7th largest economy in Latin America. It was predicted that it would rise to 5th place by 2050. The country has a population of 40 million and a GDP per capita of $18,000 (as of 2018).
The residential market in Argentina has seen an increase in demand since 2012 due to economic growth and stable inflation levels, as well as decreasing unemployment rate of around 9% before 2015. Still, it has reduced further down to 6%. This growth can be attributed largely due to increasing disposable income levels among citizens who wish to buy homes rather than rent them out because renting requires higher monthly payments compared with mortgages, where one only needs to pay back principal plus interest over time.
Market Snapshot
The country has a population of 41 million and a GDP per capita of US$32,000. The real estate market was valued at US$44 billion in 2017, while its average house price was US$289,000 (1). The economy grew by 3% in 2018 (2).
Key facts
Argentina is the 7th largest economy in Latin America, and this is predicted to rise to the 5th place by 2050. The country has a population of 42 million people and a GDP of USD 837 billion.
Current scenario and future prospects
Argentina is the 7th largest economy in Latin America, and this is predicted to rise to the 5th place by 2050. The Argentinian real estate market is projected to grow at a CAGR of 6.6% during the forecast period (2018-2024).
The Argentinian government has taken several steps towards encouraging investment in infrastructural projects, including developing residential greenfield areas. It has also implemented policies aimed at stimulating demand for residential properties, such as allowing foreign buyers to acquire property without prior approval from authorities (up from 10%), reducing stamp duty rates on mortgages and abolishing capital gains tax on primary homes purchased by non-residents within two years after purchase date with some exceptions like land parcels larger than 500 hectares or buildings taller than 50 metres.”
The real estate market in Argentina is expected to grow at a CAGR of 6.6% during the forecast period (2018-2024). The country’s large population base of approximately 40 million residents will further propel the demand for residential properties. The government’s focus on developing greenfield areas for residential purposes, coupled with initiatives aimed at stimulating demand for residential properties such as allowing foreign buyers to acquire property without prior approval from authorities (up from 10%), reducing stamp duty rates on mortgages and abolishing capital gains tax on primary homes purchased by non-residents within two years after purchase date with some exceptions like land parcels larger than 500 hectares or buildings taller than 50 metres are some key factors that will drive growth in the residential.
Argentina is the 7th largest economy in Latin America and this is predicted to rise to the 5th place by 2050.
Argentina is the 7th largest economy in Latin America and this is predicted to rise to the 5th place by 2050. The real estate market in Argentina has continued its growth with a year-on-year increase of 19.1% in 2016, which is expected to continue into 2017 as well.
The average price of two-bedroom apartments in Buenos Aires ranges between 167,000 pesos (USD$10,000) for older buildings and up to USD$20-30k for new ones recently renovated or built from scratch using high-quality materials such as marble floors or granite countertops etc..
Conclusion
Argentina is rich in resources, with a diverse population and a growing economy. The country has experienced some turbulent times in recent years but these have only made it stronger as an emerging market for investors. With strong growth predicted over the coming years and plenty of opportunities for investment in real estate and infrastructure projects, there is still much more to come from this South American powerhouse!
Contact the Gateway to South America team to learn about the best investment opportunities in the region. The company is a benchmark for foreign investors wishing to invest in Argentina, Brazil, Chile, Paraguay, Peru and Uruguay, providing expert advice on property acquisition and investment tours.
The Gateway Team – When You are Serious About Property
www.gatewaytosouthamerica.com
About Gateway to South America
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