Property for sale in Buenos Aires

Property prices have been rising steadily over the last few years, as Argentina begins to climb out of a major economic crisis in 2001-2002. House prices in the Buenos Aires' wealthier districts shot up as much as 25% last year.

The market is showing signs of stabilising now. All the same, investors in buy-to-rent properties can still expect rental income worth 4%-6% of the original sale price.

But the big gains are to be made in the city's less traditional areas. There are still plenty of great opportunities for investors ready to take a risk with more up-and-coming neighbourhoods. Lots of foreigners, for example, are interested in purchasing in off-beat districts like San Telmo and Barracas, where there are still some real bargains. Right now, Palermo Viejo is the really hot place to buy.

But Buenos Aires' property for sale boom comes at a cost. Property for sale values, as with everything else, dropped like a stone in the wake of Argentina's crippling devaluation almost five years ago. Saddled with spiralling personal debts and unmanageable dollar mortgages, many home-owners had to put their main asset up for sale.

Meanwhile, the foreign money flowing into Buenos Aires' housing market has helped property for sale values rebound to almost pre-crisis levels, particularly at the top-end of the market. As a consequence, many Argentines are now finding themselves squeezed out of the property market altogether.