New York Times: Property market in Argentina is stable
Conditions in Argentina have led to the creation of a stable property market which is ripe for investment, reports the New York Times.
In an in-depth article about property in the country, experts stated that the financial crisis in 2001 led to Argentineans investing in property as a safety net.
William Bateman, managing director of Swiss Finance and Property, told the newspaper that a lack of cheap credit has kept the Argentinean property market stable.
Prices in the country are more expensive in urban areas but have held steady since 2008 when many counties experienced a drop in value in the property market.
It is also noted that there are "no major restrictions for foreigners buying property in Argentina". Buyers are required to obtain a reference from the Argentinean tax authority which takes just 48 hours.
Figures from the Indec national statistics bureau revealed that workers in all sectors registered an increase in salaries in October, suggesting that the economy is performing well.
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