Real estate

  • I'm impressed with reading that the real estate is already guaranteed to fall 40%..... hahaha...... Argentina is so BoBo I cannot describe!!!! It's so obvious that the real estate sector have decided to bring out this statement to get the real estate market moving after many bad months/years!!!! They want to persuade the sellers to lower their prices so that buyers suddenly stand line to buy!!!! You are seriously ignorant if you believe that things happen like that! Yes there is room for prices to fall, but nobody know how much, when or how long time from now it will happen!!!! After many years I have learned how predictions turn out.....Dr doom, Roubini, was always a doomsday guy......I remember him predicting the disasters....that was when Dow Jones was by 5000 first time.....now it's by 20.000, after 2 or 3 financial crises, several terror attacks and and and.

    I read in the other site a lot of expats already counting their coins to buy a million dollar property for a few bucks..... hilarious! All the predictions are tied to 2001/2002 when the dollar was pegged to the peso and then got floated and lost 75% in short time. That was the main reason for the huge drop in real estate prices. This is not the case today!

    Still today real estate in a metropole like BA is cheap compared to most similar type of cities around the world!


    Just find it hilarious that serious news media can post predictions like that.....just unserious! And obviously it's something that have been orchestrated by the real estate sector......!

  • yea, the point is exactly that: who would be buyer right now???? People are not focused on doing any real estate deal at the moment. With one exception: I heard that many people are thinking of relocating to places with garden , Terrass etc. The outer skirt barrios especially, closed neighborhoods, have had a lot interest.

    The price drop announcement have been made by the real estate industry....

    I have a friend that has a real estate office....his last 12 months before the virus was a disaster.....no deals or very few.

    So the last 1.5 years have been a disaster for real estate offices.

    I think the prices will go down, because you will have bankrupt businesses that will need to liquidate.....but not the way the media describe it "property owners accepts offers 40% below value"......it's properly similar to the wine offers by coto 40% reduction on an overpriced bottle hahaha

    • Official Post

    When Italy entered the lockdown, soon followed articles on how properties in the cities (like Milan or Rome) with some open-door space (big balcony, terrace, especially if private, or garden) were going to benefit the most from the virus.


    Many people who live in the city have a second home either on the sea or on hills or mountains as a vacation home. Italians were caught by surprise and didn't have time to flee to their second homes, but a lot of porteños went or tried to go to the Costa Atlantica as soon as the lockdown was announced.


    Personally, I don't think a huge drop will happen given the current situation, but if Alby & Co. manage to really destroy the Argentinian economy, this will be reflected in prices, garden or no garden.

  • serafina .......so funny or?

    I would say it's a little bit late to get in the idea to move to countryside,if it's only because of quarantine.....


    Just read that the escrituras in total was 7 last month in CABA....... hahaha.....talk about being f@$#$d

    The real estate and escribanos make most of their money on sales.

    So it's obvious they are behind the "news".


    The real estate market was over priced the last decade......now even more overpriced.....just like the stock market hahaha.....

    Anyway when the news comes that the market is gonna triple in short time, it's time to sell!!!

  • but if Alby & Co. manage to really destroy the Argentinian economy, this will be reflected in prices, garden or no garden.

    we are by the last breaths......

    Everything destroyed YES, but it won't be 3.5 more years ranting back and forward.....no way it will happen.

    • Official Post

    I would say it's a little bit late to get in the idea to move to countryside,if it's only because of quarantine.....


    Just read that the escrituras in total was 7 last month in CABA....... hahaha.....talk about being f@$#$d

    The real estate and escribanos make most of their money on sales.

    So it's obvious they are behind the "news".

    I think a lot of people went into 'survival mode' for 24 hours and cussed because they didn't move to the countryside and practice self-subsistence because the Apocalypse was about to come.

    Then they realized that there is no hospital there, and historically the Argentinian countryside is unsafe.

    Further later on they realized the only places which will be restocked and properly served are the richest neighborhoods of the Capital.

    A lot of (mental) fluctuations in just two months and without the actual ability to go in one direction or another because we were all blocked in a place and notaries were not working.


    But in places like NYC a lot of people flew the city as soon as things started getting bad, whether they went to the Hamptons, upstate or to a different State. There were wealthy New Yorkers who threw money at real estate agents in the Hamptons to seek shelter in one of the mansions/properties up for rent, packed their car and pretended to find a property ready for them by the time they arrived to their destination.


    Don't forget that the commission of the escribano is on the actual amount paid, not on the amount stated in the contract. So if the report on real estate sales will be based on the registered values (valores escriturados), they were already lower than the the actual ones.


    On FB some expats are looking for properties in gated community far from the Capital 'to spend the quarantine'.


    Pilar and Escobar are the New Hamptons! How posh!

  • serafina those expats posting those things are trolls sorry.....

    Read the full threads......

    Doubt that any of them have the money or real intention to do it.......and if they had, why not just use airbnb......so easy!


    The stories from NY was real and true.....saw a long program about it.

    If u have money in New York, u might have enough for a "cottage"......

    Maybe not Hamptons but somewhere else up state.

  • (Because of the Telegraph’s paywall, I’m pasting the whole article about this side effect of Brexit.)


    British expats in Italy face massive wealth tax bills

    Close to 30,000 Britons are resident in Italy and face tenfold increases in overseas property duties

    ByHarry Brennan25 March 2021 • 5:00am


    British expats living in Italy will be hit with vastly increased wealth tax bills on their properties back home, under post-Brexit rule changes.

    They face paying thousands or even tens of thousands in extra duties every year on their UK properties, because of fresh changes to Italian tax laws which were first introduced in 2012.

    These changes have now taken effect and in some cases will cause annual bills to increase by as much as ten times.

    Italian tax law states that all Italian residents must pay a 0.76pc annual levy on the value of overseas properties.

    For years a quirk in the continental rule book meant the Italian tax authority calculated these bills using Britain’s outdated council tax system, which uses property valuations dating back to the early 1990s.

    But the annual wealth tax will now be based on the properties’ true, modern-day market value, now that Britain is no longer part of the EU.


    In areas of Britain where property prices have increased the most over the past three decades, the added tax will be enormous.


    There are currently properties on sale in Kensington and Chelsea of more than £3m that fall within council tax band G, which means they were worth £240,000 on average back in 1991.

    The change will mean an annual wealth tax bill of more than £20,000, compared to less than £2,000 today.

    Alessia Paoletto of advice firm Withers said: “These rules have been in place for a number of years but they are changing because Britain is no longer part of the EU. We hope there may be some reliefs against it as this is going to affect a lot of people, but right now it is happening so people will have to watch this space.”

    Simon Goldring of McDermott Will and Emery, another adviser, said British expats who retain properties back home would be caught out.

    There were almost 30,000 Britons living as residents in Italy in 2017, according to the latest data from the Office for National Statistics.

    Since then Italy has introduced a number of favourable measures to entice foreigners to settle and bring fresh investment to struggling parts of its economy.


    This has included a number of schemes offering the chance to buy up properties in need of renovation from as little as €1 (86p), as settlers spend a certain amount of time and money in the country.

    This has mainly taken place in the more impoverished regions in the south of the country such as Calabria, a place still plagued by the Italian organised crime groups.

    Italy has also become an increasingly popular destination for incredibly wealthy “non-doms”, who move from country to country for tax purposes.

    Relatively new laws allow non-doms to avoid taxation on their worldwide wealth in Italy by instead opting to pay an annual €100,000 flat-rate tax for a period of up to 15 years.

    “This could provide a ‘get out’ to the change in the way the property wealth tax is calculated, but will only be a viable option for the truly rich,” Mr Goldring said.

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    I don't have anything here either, but owning a property is mandatory unless you want to move every two years to avoid random rent increases!


    I don't have anything here either, but owning a property is mandatory unless you want to move every two years to avoid random rent increases!


    I don't have anything here either, but owning a property is mandatory unless you want to move every two years to avoid random rent increases!