Great Airbnb rental in Palermo

[ravingnomad]

Nah that will never happen in Argentina. Property rights are actually very respected here. Never heard of any foreigners ever having issues. Although a few friends went through a hassle when they sold a few years ago. They had to get a permit to sell. Took a few months. But I am told Milei got rid of that first thing when he got elected.

Right, and to be honest, I initially had those fears too, as well as about social unrest, but as I learned more and more about the workings of the country and gov't, I came to realize that those fears were unfounded. Anyhow, like anything worthwhile in life with the potential for big returns, it can be scary if you aren't informed and just look at things superficially.

 

[VINO]

That is a big hurdle for many people dealing with actual cash. But it is not really an issue if you are using reputable firms. It is not like you are walking around with $100 bills. You just negotiate to do the closing at your bank. When I bought my apartment I did have to pay with actual cash but I wasn't carrying it around.


I also know a few people that had to get permits. They all got them without a problem. It just took time. The worst thing is that my friend didn't rent out his apartment. He just used it a few times a year and kept it empty. When he sold it they asked for every copy of his passport since he owned the place. His passport renewed since then and he didn't have the previous ones. And they made him pay some taxes on some of the years. It was a sh*t show.

Now they probably have all of that automated but the permit was eliminated. Never ever heard of any foreigner having problems. Property rights here are sacred. The government (even the K's) know if they ever did anything no foreign investor or company would ever invest in Argentina again.

That permit process was terrible! My friend went through that when she sold her apartment in Recoleta a few years ago. Her friend was staying in it. She didn't charge her any rent. But part of the permit process was you had to show the last 12 months electricity bill and if they saw usage they assumed you were renting it even if you were not! She tried arguing with them. In the end she just had to pay some minimal tax as if she rented it. But she was angry about that.

Now they don't make you do anything which is great.

 

[JonJLA]

Right, and to be honest, I initially had those fears too, as well as about social unrest, but as I learned more and more about the workings of the country and gov't, I came to realize that those fears were unfounded. Anyhow, like anything worthwhile in life with the potential for big returns, it can be scary if you aren't informed and just look at things superficially.

I had the same worries when I bought way back in 2003. I bought into 2 off plan units and this was right after the devastating devaluation in 2002. No foreigners were really buying or investing in Argentina except for @BuySellBA. At the time it was ApartmentsBA but the same team in place. I came down to investigate and stayed in one of his apartments and he explained all the laws and how property rights have always been respected.

He knew a lot of people already by then in BA and he befriended a lot of politicians. I remember in his Recoleta office he had a picture of him and the recent outgoing President that had just resigned a few years earlier, Fernando de la Rúa. That told me everything I needed to know. That he had done his research and knew the right people.

He told me real estate was a coveted asset and that all the politicians and wealthy use real estate as their safe savings account and that after the bank run everyone would go into real estate to protect their savings and didn't trust banks. That is exactly what happened. I watched as Cristina Kichner started buying up many properties, hotels, buildings. He was right.

It is just like you said @ravingnomad. Most people are scared of investing outside of their country. And that is ok but for outsized returns sometimes you have to do what no one else is doing. Not for everyone but it sure worked out for me.

 

[Cheap Bastard]

That permit process was terrible! My friend went through that when she sold her apartment in Recoleta a few years ago. Her friend was staying in it. She didn't charge her any rent. But part of the permit process was you had to show the last 12 months electricity bill and if they saw usage they assumed you were renting it even if you were not! She tried arguing with them. In the end she just had to pay some minimal tax as if she rented it. But she was angry about that.

Now they don't make you do anything which is great.

That sounds terrible! So your friend had to pay taxes on income she didn't owe?