Buenos Aires Real Estate

Real Estate offers investors the opportunity to obtain, although lower than in other years,  attractive rents. The trusts at cost, the purchase of apartments for rent and garages are now options chosen to save the money.In the first five months of the year, 22% more than in the same period of 2009 was registered, investors seek for shelter for their money and maintain the value of their savings.

Rents are losing value against inflation, the pace of rents rate is equal to the rate of U.S. bonds, that is why it can be seen that it is more a form of shelter, at this point the choice of small, well placed units are a good investment in a long term, since such units have a large number of buyers, however for large units the sale is slower. Apartments in Recoleta, Barrio Norte and Palermo  are the best areas to invest.

PROPERTY TRANSACTIONS
The implementation of real estate value of reference (VIR according to its abbreviation in Spanish).
It is a modification of the Fiscal Code of the City of Buenos Aires under Resolution 67/2010, CABA which sets a real estate value of reference for every act, contract or transactions that are taxable with the tax of stamps and to be performed by a notary . This update was implemented according to what was published in ten neighborhoods, and will soon cover the rest. The Government Administration of Public Revenue (AGIP according to its abbreviation in Spanish) will annually update the values.

This is a new obstacle that when purchasing a property it is added to higher costs when evaluating the investment and act in reverse to the intended effect that is clearly collecting money.

Let’s take an example; if a unit is sold at a price of $ 480,000, at the time of giving the deed of sale, we enter in the page of AGIP for them to report the VIR. To do this you enter the appropriation number of the property in question, which may arise not available (in the case that in that neighborhood is not in force VIR yet) or reports that the VIR is $ 400,000, in which the stamp tax (2.5%) is paid over $ 480,000, which is the price of the transaction and it is the higher value. It adds that the AGIP can inform that the VIR of such property is $ 520,000, i.e higher than the operation, in which case the stamp tax is  paid on the latter value, because it is the highest to consider.This consult is valid for 10 working days, period in which the deed can be  given, and if the same one is put back for any reason, you must reapply for VIR. There are also certain amounts of the buying-selling deed which are also calculated on this higher value. In the deed it shall be recorded the amount of the VIR or not available (because the neighborhood has no current resolution).

Dear traveler, we give you some piece of advice to rent an apartment in Buenos Aires by Internet, some important conditions.

Crucial requirements to choose an apartment in Buenos Aires:

* The company you choose must be affiliated with any government agency to support
its trajectory. If it is a travel agency must have a license (EVT = business travel and tourism), or if it “only” has apartments for rent it must be enrolled in the chamber of property.

* The company must have a physical place. It must be based on an address and telephone number, both displayed on the website.

* If the company had reservations on-line, the page should be safe, and must disclose the reservation conditions. If the reservation is not online, you must send by fax the form with your credit card details to make the reservation.

* The price must have included has the cost of electricity, gas, water and telephone for local calls.

* If there are problems in the property at the moment of your arrival, the agency must move into an apartment similar or return the money.

* The company must make an inventory with the prices things from the apartment, and it must be signed by the agency and by the guest. This ensures the passenger that at the moment of check out, the agency can only deduct the amount set out in the inventory, and return the rest of the security deposit, (if there was any rupture).

* Any company is required to charge to host any breakage has been done by the misuse of property, since this may verify that you want to incorporate an apartment in the network, care for your property the same way.

* Any company is required to charge to the host any breakage done by the misuse of the property. This way you will see, that if you want to incorporate an apartment in the network, the agency will ensure the same care to your property.

How to choose a neighborhood in Buenos Aires for the purchase of the properties? Part II

How are the buildings and apartments?

If you are thinking of how are the streets of your new neighbor going to be, I can share with you some few things:

Recoleta: Tourists use to call it the “Little Paris”, but it also has British style buildings. Here you will find roomy & classic apartments, wooden streets, and lesser apartments per floor. It is one of the most valuable areas of the city.

Palermo: It is one of the main districts, so it has traditional houses & buildings, parks & squares. Because of its wideness and different attractions, some of its districts have been recalled Barrio Norte, The Old Palermo, The Soho, Palermo Hollywood and Las Cañitas.

Palermo Soho, Palermo Hollywood: They are part of Palermo Neighborhood, so they have traditional houses and renewed PHs, which are some kind of large apartments with many rooms and high roofs, sometimes with more than a floor, and stairs on the yard. But also, there are new developments coming.

Barrio Norte: This area takes some blocks from the streets of Palermo and Recoleta, so it has something of both.

Las Cañitas: Las Cañitas is an area between Palermo and Belgrano which has been increasing its popularity thanks to its high lifestyle standards, its fancy attractions and the good security on streets, probably due to the high amount of military dependences around. Streets have classic buildings but mainly new developments with modern apartments and Lofts. Streets are wooden and buildings use to have lesser apartments per floor than in other popular neighborhoods.

Belgrano: Along with Palermo, there are the largest residential zones. In Belgrano R (Residential Belgrano), the neighborhood has the kind of families and houses you could usually find in Recoleta. It has residential buildings, tile wooden streets, parks & squares.

Puerto Madero: Just like the London’s Docks project, the docks of Buenos Aires have been renewed and represent the latest architectural trendy. Along the streets, owners drive their selves to the skyscrapers, the renewed buildings and condos, or await for the new developments coming.

The place is meant to be a dazzling neighborhood, even as much as the exclusive Recoleta.

San Telmo: This is one of the oldest districts of Buenos Aires, once spread from the dock’s edge on tile streets. The first neighbors built their fancy buildings around, which has been renewed nowadays to become PHs apartments in most chases.

La Boca: This is another kind of cultural neighborhood in Buenos Aires, built as well for the first neighbors who were part of a rather more popular class. Some people even say Tango’s history born there. Today its buildings have also been renewed yet with a particular style, so streets are splashed of colored buildings and condos, right away from the river.

Pilar: This is the area of the country houses, with the American buildings style. Pilar born once as a little town near Buenos Aires, but it has been taken by the city throughout the years. Along with other traditional surrounding neighborhoods like San Isidro, Pilar are chosen by those who look for safety streets, gardens with flowers, trees and quietness.

Tips for travelers

One of the new methods that are being used increasingly by most tourists is renting apartments equipped in the best neighborhoods of Buenos Aires, Recoleta, Puerto Madero, Palermo, Barrio Norte, San Telmo these apartments are equipped for short and long periods from 2 to 6 guests with all the comforts of a “home” during their stay. This new form of accommodation has the peculiarity of having the privacy that can not be found in a hotel. For these cases as you will be hosted for a period of time in the apartment, and it would do well to consider the following items:

• Internet: many tourists bring their personal computer to be connected with their country of origin, if there is the Internet in Argentina, but the important thing to know is that all companies providing Internet have problems connecting service to its Macintosh machines, hence it is recommended that before arriving at their destination comment that you have a Macintosh computer, so that it knows whether the hand before going to be able to use or not.
• Phone: one of the modes that can have the phone lines, called control line, it has a feature that is credited XX amount of pesos in the phone, being able to make local calls to landlines. This peculiar pattern that has the time to lift the tube to make a call is not heard tone, but is heard a female voice that informs us how much money we have available to make calls. In case they want to make calls to cellular, long distance or international, in all the kiosks can be achieved “calling cards” for such communications.
• Keys: not all countries use the same keys to enter the various properties, including in Buenos Aires are changing depends on the buildings and departments. It is important to know that some keys have the right and vice versa, so if you are entering the lock side setback, there is a possibility that the same locks and make necessary arrangements or change of locks. It is therefore important to ask when entering a property if the keys have the same right and vice versa, to avoid these difficult times.
• Gas: or in the city are still used for cooking gas, very few departments in which they use the electric burners.

When planning a trip to Buenos Aires must take into account certain aspects of this city, not to meet with surprises upon arrival. Some of these are:

• Banks: there are some debit cards / credit that have a special operation in banks in the city. Regardless of the amount that the limit established for each particular bank of the debit cards, it is not surprising that only allowed to withdraw $ 300 .- (pesos) of what he has good news is that not only can withdraw that amount per day, but by extraction, which can perform more than one extraction per day .- $ 300 (pesos) each time.

• Local currency: in some shops are beginning to accept this payment in foreign currency (U.S. dollar), but not to enter into speculation, it is preferable to change earlier. In this issue is important to know that companies that change can be found in the Ezeiza Airport are characterized by making changes in currency with the lowest price stipulated by the National Bank. If possible it is preferable to bring a little cash and no change in their country of origin, and then once established in the city is directed at exchange houses or banks to make the change. For more information you can visit www.dolarhoy.com
• Electricity: as you know not all countries use the electrical voltage, so you do not have problems we need to know that the voltage used in the country is 220 Watts.

In case you need to contact your embassy during your stay in Buenos Aires, here you will find a complete list of embassies and their respective addresses: http://www.embajada-online.com/embajadas-de-otros-paises-en-Argentina-P7.htm

Recoleta is one of the neighborhoods of Buenos Aires most estimated by its diversity in alternatives of entertainment, cultural and purchases options, but it is also one of the most wanted neighborhoods for renting apartments or buying properties for investment.

The famous Alvear Avenue, one of the most exclusive ones, which concentrates the most luxurious mansions of the city, also offers important houses fashionable internationally and hotels of prestige as the “Alvear” or the “Palace Duhau”.

To rent in Recoleta, is a good choice and a great possibility of living around the best restaurants in the city, pubs, the hippie fair on Saturdays and Sundays, the National Museum of Fine Arts, the Village Recoleta with its 12 cinemas, bookshops, bars and galleries of art.

Furnished apartments available for temporary rent in Buenos Aires of 2 or 3 rooms are the most wanted, but the one room apartments, called studio, has also very high demand. Apartments Buenos Aires as business offer multiple advantages.

Many investors have chosen Recoleta, as investment, buying residences that then, rent furnished to tourists for short stays, assuring them a return of investment, an extremely attractive business. The business is to accede to a real estate business with a minimal investment and to obtain a rent similar to the one that might be obtained in European countries or The United States.

Recoleta has a lot to offer to tourist and investors that think in Argentina
Apartments in Buenos Aires Argentina, further information click here

If we have to make a quick balance of the last few years about the inversion in real estate business, we will be able to say that the growth is the main characteristic.

Rates and reality show that Argentinean economic growth has no interruption during these years and it is also being significant, even more than neighboring countries such The Economist point out in a recent article; it indicates a 9% increase in contrast with Brazilian economy. Tourism peak is another beneficial factor that influences in this development, showing a progressive increase as a tendency, it adds year by year more foreign visitants. Also, building industry shows a stage of plateau (for local reason) that motivates the increase of the square meter of construction for certain areas, seeming to be the trend within short term in Buenos Aires. Specialists think that the increase in the price of the square meter is an opportunity of investment to take into account, the same happens with the renting apartment segment. The supply revalues each property, an equation that is profitable to whom invested and also to invest nowadays considering the prediction of this tendency.

“Las Cañitas” and “La Imprenta” for example are ideal areas to invest in Palermo; it has an important supply of new buildings (a total of 42 constructions) most of them are residential buildings; this is a thing that must be pointed out. In 2005 the price of the square meter was approximately of USD 1450; in 2006 it was of USD 1600; in 2007 it was of USD 1980, finally in 2008 it reaches USD 2350. This shows an increase of the 18% in the last year. “Las Cañitas de Palermo” is a good opportunity of investment being also profitable in other neighborhoods of Buenos Aires.

Those who are interested in renting apartments, will be favored because the return rates are the highest in the world, the lodging demand of foreign people is evident, the tourism boom, the benefit in the currency and the life standard of the city, make foreign people (specially Europeans and Americans) to invest in Buenos Aires’s properties; not only to live in but also as a business.

If you want more information about Buenos Aires real estate, click here