The uncertainty in the Argentine real estate market forces many local investors assess alternatives outside borders. And in that menu, Miami has become one of the favorite dishes.
Developers operating in this market know that situation and that is why more and more are coming into the country to offer their products.
For instance, US-based Related Group, owned by Argentine businessman Jorge Perez just introduced in the country, through the chairman of the Division of Condominiums, Carlos Rosso, a series of ventures that will open in mid-2016. "Are each Argentine increasingly looking to invest in the Miami real estate market, "confirms Rosso.
One of the proposals is Brickell Heights; is a two-tower condominium with over 690 residential units, located at 850 South Miami Avenue. "More and more investors buying departments to hire them, not to go live. These investments allow a 5% annual return, plus appreciation of good, "explained the representative of the firm. The square meter in one of these homes costs $ s4.000.
In the local market rent is similar but in pesos.
The second proposal is Hyde Beach. "We invented a way to sell a little different, where people can buy an apartment, but with the option to rent per day when not in use. In this case, there is a hotel company which will manage the rental pool, told the businessman. Thus, a person can acquire an apartment and to use it as long as you want and the rest of the days rent. With this income the owner can cover costs and also getting a return on your investment. The prices for these units, fully equipped, ranging from USD $ 5000 and the $ s6.000/m2.
The purchaser of a property has to know that the above price includes rental service per day with the company to find its position and fully furnished condos.
The third project in dance is Paradise Bay. Located just five minutes from the new Brickell CitiCentre complex will consist of two towers with 345 residences from 1 to 4 bedrooms, "all with a panoramic view with a value of $ 4,200 per m2" said Rosso. Among the international figures that his department already assured Paradise Bay is sportsman Argentine Manu Ginobili, Arantxa Sánchez Vicario and international DJ, David Guetta.
Miami is still a very expensive city to rent compared to the rest of the United States. The values in round vacation in $ 1,600, which means a third of what it costs in Chicago or New York half.
The real estate developer, since its founding in 1979, has completed 80,000 departments. Besides construction in Miami, the company raises modern buildings in Brazil, Mexico, Uruguay, Colombia and Panama.
Fall in property prices
The average price of a home in the City of Buenos Aires increased 54.6% in dollars and 8% in dollars between late January and March 2013, while the sale of new or used property continues to be depressed, according to the Association of Notaries City of Buenos Aires.
The amount of deeds of sale of properties in Capital fell 53.7% in January compared to last December and 0.8% compared to January 2013. 2,027 events were recorded.
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