Home Overseas | 2005-07-13 Home Overseas

Latin Love

Argentina seems to have it all for second-home seekers; elegant and vibrant cities - such as capital Buenos Aires, colorful Latin society with hints of old Europe, and vast swathes of unspoilt South American countryside.

However, perhaps the biggest pull for British house hunters at the moment is value for money. There is a wealth of extremely affordable homes, and because Argentinean real estate is now priced in US dollars, UK purchases can snap them up on the back of an almost two-to-one exchange rate with the pound.

Lorena Amarante, head of marketing at Alojargentina, agrees: "Buying a property in Buenos Aires as an investment is a great option. Prices are still really affordable in terms of squared meters, and the cost of maintaining a property is quite low."

At the cheapest end of the capital's market, a studio apartment can be picked up in the current market for between $30,000 and $ 55,000 (L16,000 to L29,000), while a two-room apartment varies from between $60,000 and $110,000 (L31,500 to L58,000).

Add to this the cash incentives and the ease of purchase through a good developer/ agency, and Argentina makes for one attractive prospect.
Nick Woods

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