What You Need to Know About Owning Property in Argentina

A potential expat recently asked me how much it would cost to buy property in Argentina. So, I decided to do some research and this is what I discovered. 

The Cost Of Owning A Home

The cost of an affordable middle-class home will run you about 500,000 pesos minimum, which is about 81,860 U.S. dollars. Some homes can cost over a million Argentine pesos, which is approximately 163,720 U.S. dollars. 

Realtors vs Banks 

I highly recommend that you buy from a realtor, (called an immobiliaria in Argentina), in lieu of using a bank to buy your home. A realtor can enhance the value of your U.S. dollars from the average 6 pesos per USD to about 7 or 8 pesos per USD. This enhanced dollar value is known as “Dolar Blue.” This will significantly reduce the cost of the property you want to buy in U.S. dollars. The enhanced dollar process itself is called “cotizar”. Keep that in mind when dealing with the realtor. You can handle the negotiation and purchase of your property with the realtor from the States via phone or e-mail, but I would strongly encourage you to visit Argentina and the different neighborhoods first before buying property. You never want to go in blind. Plus, if you have children, you’re going to want to take a look at the schools in the area. I would avoid public schools here, at least in Cordoba. The private schools are a lot neater and more organized. 

Best Neighborhoods In Cordoba 

Here are some of the best neighborhoods (barrios) to live in if you move to Cordoba.

• Barrio Crisol
• Barrio Maipu
• Barrio Ayacucho
• Nueva Cordoba 

You can also buy property further north in Cordoba, like in “Cerro De Las Rosas”, but it’s much more expensive there. 

Neighborhoods To Avoid When Buying Property In Cordoba 

• Alta Cordoba and Cofico – Once a high-class neighborhood, this area has slowly gone downhill. There have been reports of a lot of theft and assaults in the area 
• Barrio San Vicente – It’s not safe at night. There are a lot of break-ins. 
• Barrio Colon – It’s okay, but you risk the occasional graffiti being spray painted on your walls, and you can’t risk parking your car outside overnight. It will either get vandalized or stolen. 
• Barrio Rivadavia – Same explanation as Barrio Colon

Buenos Aires 

If you’ve read my recent entries about my two trips to Buenos Aires this year, you might be encouraged to buy property in the capital of Argentina. I’d like to point out that while I was never a victim of a crime there, some expats and natives have claimed that it’s an unsafe area, especially when there are political uprisings and protests. If you choose to move to the capital, then I recommend that you stay within the area known as “La Caba”. Think of this area as the equivalent to Washington, D.C. Some expats and Argentinians have reported that the area beyond “La Caba” is considered dangerous. Think of “La Caba” as Manhattan, and the rest of the Buenos Aires region as Brooklyn and the Bronx. 

Renting A Home Or Apartment 

If you choose to rent, then you’ll find that the price range for a decent home will cost anywhere from 2,500 (409 USD) to 4,000 (654 USD) Argentine pesos a month. I recommend Nueva Cordoba as it has several condos and apartment complexes. The area is near the downtown area (The Centro”) where you’ll find several shopping centers, McDonald’s, Burger King, theaters. Starbucks, and bookstores. Nueva Cordoba also happens to be a popular choice for expats and international students. 

Check The Classifieds 

I’d advise that you check the classifieds from the Argentine newspaper, La Voz Del Interior. This website will provide you with photos of the property, price ranges (in some cases), and realtors/immobiliarias to contact. Here is the link to the classifieds for La Voz Del Interior. 

RE/MAX Argentina 

Click here to go to the RE/MAX Argentina site. It can also provide you with information and give you access to a local realtor. 

Accountants Versus Lawyers 

No matter what people tell you, lawyers don't have the same value here as they do in the States. So, if you hire one to help you deal with the purchase of properties, you're wasting your time. Hire an accountant instead. Accountants in Argentina know all you need to know about the tax laws and requirements for owning properties. 

Learn The Language 

My final recommendation would be that you learn the basic concept of Spanish, and if possible, learn the differences between Argentine Castilian and other forms of Spanish commonly heard in the U.S. You’d be surprised by how such subtle differences can result in a huge misunderstanding here. 

Check out my article on the differences between Argentine Castilian and other Latin American Spanish.