Source: Foreign Property Buyer
07.31.2008Argentina is hotly tipped by some experts to be the next big hotspot for property investment. The country is full of beautiful countryside and has a rich cultural history therefore it is no surprise that real estate within the country is starting to become popular. The figures look to stack up too - the Argentine economy is strong with growth rates of around 8 percent per annum, with millions of dollars being invested into the country from abroad.
Many Argentineans also choose to take holidays in their own country so although many foreigners visit the country each year, the domestic tourism market is also strong - good news for property investors as it means the rental market in the country is good and the potential for both rental prices and housing prices to grow substantially is strong.
There is also a wide range of real estate to take advantage of, depending on your risk profile. For those who aren't keen on risks, there are plenty of opportunities to buy land at relatively cheap prices near hotel resorts. The most expensive areas of Argentina are currently in the wine-growing regions of Mendoza and in and around Buenos Aires.
For those who would like to take more of a risk, it might be worth looking in the more outlying areas where property and land is far cheaper but there is currently not good travel links or infrastructure. Any investments here would generally be for the longer term and may prove to be a good move - around $5.5 billion is expected to be invested into the country in 2008, with even more predicted over the next few years. With this in mind, there is a good chance that travel links will improve in the medium term, and property and real estate prices in these areas of Argentina will therefore grow accordingly.
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