GTSA expects a rebound in Real Estate prices later in 2014 in Buenos Aires
Why ? – An increase in activity in the surrounding region, Buenos Aires Province, favouring the lower price range of U.S. $ 65,000 to US 120,000 which accounted for 92% of the sales.
The restrictive foreign currency controls and lack of confidence in the current government were the main reasons for the frozen market in the city. However with change seen to be on the way politically and the economy more stable confidence is starting to return.
Overall real estate activity is still positive and reached an annual growth of 71% in revenue in Pesos, with 85% of the purchase and sales concentrated in the non new segment of the market. Properties that have not been repriced to reflect the current market however will not sell.
Interior investors have up till now invested locally with Córdoba, Rosario and Mendoza among the favorites instead of Buenos Aires.
Now those experienced in investing in crises now see the time is right to invest in Buenos Aires before the market moves. Prices are down in dollar terms and pesos will progressively increase to an average between the US dollar and local inflation.
Dont miss out.