Investor attention has recently been focussed on Latin America. Rapid economic growth and increased stability has brought fresh prosperity to the region. As property there is predominantly bought in cash, the region has also been sheltered from the global credit crunch, leading MoneyWeek.com to comment that: “Easy credit and excessive leverage do not make up the foundations of the Argentine real estate boom. In other words, it’s almost bubble proof.” Our new investment opportunity comes from one of Argentina’s most reputable developers, KAS. Located in the first band of residential districts outside of Buenos Aires’ city centre, Torres Caballito Nuevo is a high-spec apartment project in the popular Caballito neighbourhood.
We have been able to secure 39 units in the Caballito Nuevo development at a 23% discount to market value. Caballito is close to the hip Recoleta and Palermo areas, meaning rental demand in the district is high, as residents of Buenos Aires, known as porteños, aspire to live as close to the city’s energetic heart as they can afford. As domestic let periods are usually long, potential net rental yields of 8% per year are achievable.
The developer has already sold 70% of the units in the development to the local market - proving that there is demand for this type of property, at this price, in this area. High demand and limited supply means plenty of growth potential and a strong exit market when you choose to sell.
We feel the timing is right to enter a market that is stabilising both politically and economically, but thriving in growth and demand. Apartments start from approximately £29,000 and we expect them to sell out quickly. Don’t miss the potential for profit in this exciting market.
To view our due diligence pack please click on the icon to the left below. You can also download our PDF brochure of the development by clicking on the icon to the right below.
Call us on 01273 627 900 to get your questions answered and to reserve your property.
The developer of Torres Caballito Nuevos is KAS, one of Argentina’s most successful and reputable developers. Established in 1998, KAS has now developed 20 sites totalling over 150,000m2 of residential, commercial and mixed-use property.
Previous projects have predominantly been positioned in the Palermo Nuevo neighbourhood where capital growth in the city has been strongest. KAS were also able to spot the potential to extend the neighbourhood with their Torres Dorrego Nuevo development of 142 units, also over two towers. KAS sold 85% of these apartments within six months of marketing the project. Similarly, 70% of units in Caballito Nuevo have also already been sold to the local market.
You can find out more at: www.kas-sa.com.ar
The Torres Caballito Nuevo showroom