Argentina is one of the most varied and interesting places to be found on the globe. A melting pot of nationalities populated the country in the 19th century and they have left indelible marks on the country from the English Cricket Club at Buenos Aires, the Welsh in Patagonia, the Italian Chic and Parisian construction of the Capital city and the organizational structure taken from the Spanish.
As many people know, Argentina defaulted on its foreign debt in 2001 and one of the effects was that the banks were closed and people could not get access to their money. It was finally decided that the old order had to go, the politicians that had taken Argentina to this point and for once it wasn’t the military who took the action. New President Kirchner has steadied the ship despite the forced devaluation of the peso which previously traded at 1:1 with the dollar, is now at 3:1. Therefore life became a lot more expensive for Argentinians who earn in Pesos as everything from real estate through to cars became triple their previous price. Things that are priced in pesos remained the same apart from the relatively high inflation rate which is now being dealt with.
Investors therefore had and are having a field day. Suddenly there was a fire sale of properties because people couldn’t get their money from the banks and prime real estate was being sold off at bargain basement prices. Those who came in taking both the long and medium term view are currently enjoying increases in their investments of over 200% compared with the prices in 2001-2.
Buenos Aires real estate is booming with increase reported of up to 37% in the year to October 2006 and the rest of the country is enjoying the boom that the trickle down effect creates from Buenos Aires.
The Mendoza province is the huge wine growing area and is considered a paradise on Earth by some. Patagonia is enjoying a tourist boom to what they describe as a huge Lake District. Argentinians now take their beach holidays in Las Grutas where the warm waters lap up giving it a large advantage over other areas at these latitudes and Argentina shares part of the Iguazu Falls, the most spectacular waterfalls in the World probably which is now being developed for tourism.
The country is fantastic, the culture is a melting pot, part Italian, part Spanish in its majority but there is a part of Patagonia where Welsh is spoken by a whole community, the remnants of a business in cattle and sheep from many years ago (Even the place names are in Welsh)
The economy of the country is basically sound now that the old order and corruption have been eased out of power. It is based on land, lots of it, meat, wines, cash crops, and possibly most importantly oil. The area around Neuquen is a huge oil field meaning that petrol in Argentina is around 30p per litre (if you can afford a car which of course are priced in dollars)
Valencia Property S.L is offering a tract of land by the beach in Las Grutas in Rio Negro province. It is the perfect place to construct holiday villas or small hotels as demand is multiplying in the area year on year and looks to continue that way for the medium term future. This is the area that middle class Argentinians are flocking to in their droves for investment and holidays since they cannot now afford the USA. The plots we are selling are priced at between 12 and 13500 Euros and building on the plots will be relatively inexpensive too with a 100m2 house expected to be built for around 40000 Euros.