Buenos Aires Life

BA is often called the "Paris of South America" and can be described as a small scale analogy of New York: There is a "Fifth Avenue" (Avenidas Alvear and Quintana), a "Seventh Avenue" (Arenales) full of designer shops, a "Broadway" (Avenida Corrientes) full of theaters, Greenwich Village-like neighborhood (Barrio Norte/Palermo), a garment district (Once), and a mini-"Central Park" (Bosques de Palermo). Buenos Aires is the focal point of any journey to Argentina, and for any visitor, it offers a great selection of nightlife and an open attitude towards the diversity of the many people that come to enjoy this Latin American world capital.

For ten years, one Argentine peso was worth one US dollar making the country affordable only to foreign institutional investors and their employees; however, the devaluation of 2002 has put Buenos Aires within the reach of the private investor (it is now three pesos to the dollar). Today's ex-pat community consists of Americans and Europeans who seek to improve their quality of life while taking advantage of the many opportunities in education, arts and real estate that abound in the tenth largest city in the world.
The urban infrastructure, built up during the previous ten-year wave of capital investments, beckons the international investor to enjoy its culture, art, music, dance and dining. Buenos Aires is an excellent transportation hub situated only ninety minutes from Rio de Janeiro, ninety minutes from Santiago, thirty minutes from Punta del Este, and within easy reach of many fascinating ecotourism destinations.

Today, this world city populated by the most forward-thinking inhabitants of Latin America welcomes the foreign buyer of real estate. Gentrification is turning the old neighborhoods on the waterfront into some of the trendiest lofts, offices and restaurants in town. It is also transforming the colonial-style area of Palermo into a chic neighborhood. The past glory found in the dramatic architecture of the palaces and ornate public buildings and spaces enhance the Manhattan-style apartments that make up the rich mix of housing stock. There are unprecedented opportunities to own one of the many dollar-denominated apartments whose recent market adjustment allows for prices that can be wholly or partly financed using a credit card.

Izrastzoff provides the service the foreign investor requires to recognize this opportunity using an easy-to-understand, secure buying process. Once the sale is completed, our client-centered use of technology allows us to provide a complete ongoing property management service to our remote clients, aiding in the payment of bills and building expenses.

Our agency has over thirty years of experience in the Buenos Aires residential market and we have English-speaking agents to assist our clients in learning more about our process. We will introduce you to our many exclusive listings and arrange a visit to Buenos Aires to enjoy the city's many attractions and take a tour of the apartments suitable for investment purposes or as a second home.

Simply said, real estate prices are 30% less than they were in 2001. There is a limited availability of mortgage financing for Argentines so the cash buyer has a true advantage to catch the rise of the market while the domestic buyer waits for the banking industry to expand the credit supply.
We recently performed a market analysis comparing the prices of select American and European cities with those in Buenos Aires; here is what we found:

London U$ 8,000 per square meter ............................... Paris U$ 5,000 per square meter
NYC/SF U$ 5,000 per square meter ............................... Bs As U$ 2,000 per square meter

As an owner, one has the option to hold the apartment vacant and enjoy long-term returns or rent the property annually at 8% of the market value, providing cash flow and a high rate of capitalization. However, we believe that an apartment in Buenos Aires serves as an excellent opportunity to own a pied-a-terre because all your household bills and building expenses are denominated in pesos (currently about 65% less than one US dollar,) making it easy to maintain your investment from the abroad.