Home Sales And Rentals Surge In Argentina, Signifying Potential Investment Opportunities
Property sales in Argentina’s capital city have seen a dramatic increase in recent months, as well as a surge in rental prices. The real estate boom is expected to continue as more individuals turn to property investments over savings and other investment strategies, and the trend could signal a strong market for foreign investment opportunities.
According to data from the Provincial Notary College, house sales in Buenos Aires have seen an increase of 7 percent per quarter, with a recent 77 percent surge between February and March of this year.
According to Property Wire, a spokesman for the Notary College stated that transactions are expected to continue their growth pattern in coming months.
As home sales soar, rental prices in the Argentina capital are also on the rise. In the last year, the average overall cost to rent in Buenos Aires has increased from 5 to 20 percent, based on the specific neighborhood and location. One bedroom apartments in Puerto Madero, for example, saw a 30 percent increase, while two bedroom apartments in Barrio Norte saw a 28 percent leap.
While the growth surge and rental increases vary by specific location, the overall upward trend signals a strong potential for foreign investment opportunities throughout the Argentine capital — and a subsequent need for proper documentation and authentication.