I like Argentina. In fact, we liked it so much when we visited a couple of months ago that we're buying an apt. in Buenos Aires.
Also, been looking at Uruguay and Nicaragua but there aren't a whole lot of projects without going out there again to look. Been looking at markets where US retirees might be relocating to in future.
Unfortunately, you need cold hard cash to buy in Argentina b/c there's really no decent mortgage financing but at least it's not a speculative property bubble...yet. I also feel more comfortable with the culture, language than in let's say, Malaysia, Thailand, Egypt.
Been concentrating on researching city investments to get a year round rental as opposed to the 3-4 months holiday rental.
Depends on how much you want to invest. B/c of the low dollar I would also look into NYC which is sort of a market unto itself unlike the rest of the US, but entry prices can be high.
Would like to hear other suggestions/projects

Hi 10 Crew,

We have been researching that part of the world for 2 years now - Argentina looks good, generally because it is a very popular place to live, but watch out for inflation - Currently corrupt gov figures show this at 8% but real underlying inflation is 20% - The popularist government does not have a stable monetary policy and only works for economic growth, to facilitate this they have been artificially pegging the Peso to the USD - The USD has depreciation has caused massive export demand for their agricultural produce and this has been pushing food prices up. If the peg fails then the peso will appreciate hugely. The problem with this is that most Argentineans hold USD due to peso distrust following economic collapse 2002 (however all food etc... is priced in peso's so everything becomes more expensive very quickly - hyper inflation??) and export demand currently giving argentina economic growth at 8-9% GDP per annum will fall quickly - another 2002 crisis? unlikely but be careful.

On the flipside a colleague who has been living in BA for 2 years has seen 9%ish cap appreciation per anum and with no shortage of retirees and fashonistas looking to move there, current average prices of $1500sqm rising to $2000sqm in Palermo will not break the bank for them. This gives you a good exit avenue.

A great place to read all about Argentine economics and real estate is Reynolds Propiedades Argentina | Página de Inicio - local agents.

Much more to my preference is Uruguay - not completely shielded from inflation but the currency floats freely and the situation is not brushed under the carpet as in Argentina.

On top of this tourism numbers are rising at 20% per annum (Argentine and Brazilian demand)

It is the safest country in Latin America

No exposure to consumer borrowing (as in Argentina)

75% of population own property - so any prices rises increase local wealth

It has almost the lowest cost of living.

Very Spanish climate/ European Culture.

Prices are less than even remote parts of Brazil, and yields net 10% even at the moment.

All in all truly an amazing country - hard to see it not becoming a major retirement haven in the years to come...

Our project is Sugar Loaf Uruguay (ocean club and spa) $845sqm - finished villa and land ownership.

Please send a private message if would like more info.

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