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By: Kenneth Rapoza
For investors with strong dollar bills bulging through their wallets, there’s some good shopping to be had in Argentina. Commercial real estate prices are stable, but residential prices decreased 2,5% in Buenos Aires over the last year. CBRE says prices in other states have fallen even lower. This is discount shopping time in a country that has plenty of caché and potential.
Sutton told FORBES the real estate market is coming back to life. This is more hope than reality at the moment. The Group’s Alvear Tower is just 49% sold. Unsold units have risen pretty much with inflation, around 30% higher than their asking price back in 2011.
“Argentina’s future economic outlook is promising,” Sutton says. “Independent of the two undertakings we have in Puerto Madero, we are convinced this is an excellent time to invest in real estate in this country. Relative values of quality properties will see a significant appreciation in the next few years.”
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