Source: InvestBA
04.29.2011
From Buenos Aires to Mendoza to the Patagonia and Salta, the sale of luxury real estate is booming in Argentina. In a detailed analysis today in Cronista, Lorena Obiol says the luxury residential market is attracting investors with some very unique offerings. The seduction is a two-way tango, she explains, with developers and end-users snatching up prime parcels and luxury properties.
“High-end Argentina properties with quality construction, great location and price are a market for a select few looking for solid returns,” says Obiol. In Buenos Aires, she singles out a few dream listings including a 9,200 square foot penthouse downtown for US$3.6 million (US$391/SF) and a 2,750 square foot pied-à-terre for US$1.6 million (US$581/SF).
In the Patagonia region, many foreign investors are getting a Texas-sized introduction to Argentina thanks to Dallas-based LBO legend Tom Hicks. Hicks Trans American Partners and Terra Patagonia have invested US$60 million to date on El Desafío Mountain Resort in picturesque San Martín de los Andes. “Here, the luxurious amenities, the Greg Norman golf course and the polo fields are as valuable as precious metals,” says Obiol.
And in terms of vineyard and polo opportunities writes Obiol, you can’t get much more luxurious or exclusive than the Algodon Wine Estates in Mendoza. “The 2,050 acre project features a luxury hotel, a gated community, commercial space, a championship golf course and polo fields only 10 miles from San Rafael.” For more information about investment opportunities at Algodon Wine Estates, please visit our interactive site map.
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