Late 2001, the Argentines removed the peg between their peso and the U.S. dollar...devaluing the Argentine currency, which fell, at its lowest point, to 4:1 against the Greenback. This crisis situation opened a window of opportunity during which savvy investors, led by our editors, bought primo Buenos Aires apartments for one-fourth their former values...and expansive tracts of land elsewhere in the country for $25 an acre and less.
This is a market of big ups and downs, and values have risen steadily since the 2001 crisis. Today, though, Argentina continues to offer some of the best land values in the world. Indeed, this is the best place we know to shop if you're in the market for a big spread to call your own.
It's also the place to look if you've ever day-dreamed about producing your own fruit of the vine. You could invest in a planted vineyard...or establish one of your own. Argentine wines have historically been consumed primarily in-country but are increasingly exported, and the country's Malbec grape is making a name for itself worldwide.
Outside Buenos Aires, Argentina boasts one of the most affordable costs of living on earth.
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Argentina at a Glance
| Population | 41,343,201 (July 2010) |
| Gross Domestic Product (GDP) | $558 billion (2009) |
| GDP Per Capita | $13,800 (2009) |
| Inflation Rate | 7.7 % (2009) |
| Currency | Argentine Peso (ARS) |
| Exchange Rate Versus U.S. Dollar | 3.7639 pesos per 1 U.S. dollar (2009) |
| Language | Spanish (official), Italian, English, German, French |
| Capital | Buenos Aires |
| Population of Capital City | 13 million |
| Time Zone | GMT minus 3 (Three hours ahead of Washington D.C. during Standard Time) |
| Seasons | Subtropical to subpolar; North: hot summers, mild, drier winters Central: hot summers, cool winters South: warm summers, cold winters |
| International Dialing Code | 54 |
| Electricity | 220V / 50Hz; Plug Types: C, I |
| System of Government | Federal Presidential Republic |
| Name and Party Affiliation of Current Leader |
Cristina Fernandez de Kirchner Justicialist Party |
| Income Tax Rate for Residents | 9% to 35% |
| Property Tax | 1.25% (0% in Buenos Aires) |
| Capital Gains Tax | None |
| Inheritance Tax | None |
| Rental Income Tax | 21% |
| Transfer Tax | 1.5% |
| Sales Tax | 21% |
| Restrictions on Foreign Ownership of Property |
Foreigners need approval to buy in security zones (international borders) |
| Local Chamber of Commerce | www.cac.com.ar Av. Leandro N. Alem 36 C1003AAN Buenos Aires Tel. 5411-5300-9000 |
| American Chamber of Commerce | www.amchamar.com.ar Viamonte 1133 Piso 8 C1053ABW Buenos Aires Tel. 5411-4371-4500 |
| Primary Exports | soybeans, petroleum, gas, vehicles, corn, wheat |
| Residency and Visa Requirements | Tourist Visa: automatic 90 days upon entry Residency: work, study, investor, retirement, rentista, medical treatment, and cultural exchange Citizenship: after uninterrupted documented residency of at least three years |
Residents or Retirees |
None |
| National Airline | Aerolineas Argentinas www.aerolineas.com.ar |
| Preferred Contact | Reynolds Propiedades & Relocation Tel: 54-11-4801-9291 This e-mail address is being protected from spambots. You need JavaScript enabled to view it www.argentinahome.com |
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