News
Argentina is Fastest Overseas Property Growth Market
2 April 2007
According to figures released by movewithus, the UK's leading property services group, Argentina is the fastest growing worldwide property market. The percentage uplift over the last 12 months of plots in Argentina sold through the company stands at 35per cent. This compares to an uplift in other emerging markets of 30 per cent in Mexico, eight per cent in Bulgaria and five per cent in Budapest and, in more mature markets four per cent in Spain and two per cent in Florida.
Moreover, the increase in average property value (calculated in $US) in Argentina over the last three years is 20 per cent per annum, over ten per cent more than that of properties in the USA or Eastern Europe, making it one of the most attractive new markets for investors.
movewithus recently hosted a seminar in London, with the participation of the Argentine Embassy and the British-Argentine Chamber of Commerce, focusing on the investment opportunities in Argentina, where they projected that the property value in Argentina will continue to grow at between 15 per cent and 20 per cent per annum. They also argued that the country offers one of the most lucrative buy-to-let opportunities worldwide, with rental yields at between five and ten per cent per year. Minister Estanislao Zawels, from the Argentine Embassy, argued that the current opportunities for property returns were due in large part to ongoing aggressive growth of the national real estate market and Argentina's strong economic growth, which has seen GDP rise by more than 8.5 per cent year on year since 2003.
Robin King, Director at movewithus, commented: "The variety of opportunities for investment in Argentina is second to none – whether you are looking for a buy-to-let property or a second home. We're finding that there is a growing level of interest in farming land in Argentina, particularly for soya bean growth, and we would anticipate this market to continue to grow apace. However, we would caution potential investors to seek expert advice before entering the emerging property markets since, as with any new markets, there are risks and pitfalls. With the right advice and guidance investors stand to make highly lucrative returns."
Mr. Zawels added: "The burgeoning economic growth and stability in Argentina offers a perfect platform for property investment. The real estate market is undergoing a radical transformation and, with property prices looking set to continue to rise as the market develops, it is a good time for investors to exploit the opportunities"
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