If you want to buy a house in Argentina it is best to seek legal guidance for the imposed formalities. As there are no restrictions on foreigners interested in property in this country, the whole process is one without complexities. Find out from our lawyers in Argentina how to buy a property in Argentina.
| Quick Facts | |
|---|---|
| Types of properties that can be purchased in Argentina |
– commercial and residential properties, – land plots that are not owned by the state |
|
The institution in charge of property registration in Argentina |
Land Registry in Argentina |
|
Application for tax ID number |
CDI is the tax ID number issued for persons wanting to buy a property in Argentina. |
| Documents for buying a property in Argentina |
– sale-purchase contract, – a title deed, – building permits, – cadastral documents, – energetic certificate |
| How can our Argentine property lawyers help you with a house purchase? |
– verifying documents and history of the property, – drafting the pre-sale contract, – representation in front of a notary at the time the final sale-purchase contract is signed |
| Expert advice for price property in Argentina (YES/NO) |
YES |
| Verification of properties with local institutions or municipalities (YES/NO) |
YES |
| Inspection trip before property purchase (YES/NO) |
YES |
| Pre-sale agreement for properties in Argentina |
A pre-sale contract is signed as a guarantee that the property is reserved and sold. |
| Minimum deposit solicited | Buyers usually pay around 30% of the total price of the property at the time the pre-sale contract is signed. |
| Can a property price be negotiated in Argentina? |
Yes, but it depends on the seller. |
| Currency solicited for the payment of property |
Argentinian peso |
| Property tax in Argentina (IBP) |
Ranges between 0.25% and 1.5% and it is calculated based on the value of the property. |
| Residency through property purchase in Argentina |
No specific program is available. Foreigners must observe the immigration rules in this sense. |
| Why choose our lawyers in Argentina for property purchase? | We can manage the sale-purchase process on behalf of our clients, we can represent customers with a power of attorney, we provide complete legal services at affordable costs |
Steps involved in property purchase in Argentina
The purchase of a property in Argentina can be done both by the citizens of this country and by foreigners, as long as they comply with the formalities. Let’s review some of these:
- Apply for a CDI or tax ID number to be able to buy a property in Argentina.
- Representation is required from an Argentine agent for the payment of property tax at Notary Public.
- Properties are priced in dollars, but payment is made in Argentine pesos. Buyers may experience around 2% in exchange rate losses. Ask us about how to buy a house in Argentina.
- “Boleto” is a 30% non-refundable down payment for booking the property. This money is calculated from the price of the house and goes into the account of the real estate agency with which you collaborate.
- We inspect the respective property and check if there are any irregularities. A report will be prepared in this regard.
- If the property inspection did not reveal any problems, the sale-purchase contract or the “deed” is signed.
- The rest of the payment is made by transfer, and the buyer receives the title deed.
- One must pay taxes such as VAT, notary fee, stamp duty, transfer tax, and registration fee.
Our lawyers have experience in real estate transactions and can offer specialized advice for foreigners. We are here to tell you more about how to buy an apartment in Buenos Aires. If you are interested in starting a business in another country, such as Malta, we can put you in touch with our local partners.
You can also read the following infographic we have prepared on this topic:
What happens if the buyer changes his/her mind during the transaction?
As mentioned above, the buyer must make a payment of 30% of the price of the chosen property. If the buyer changes his mind and no longer wants the property, the money can no longer be taken back, and he/she must also pay a fee to the agency.
Therefore, it is recommended to be sure of the chosen property and the purchase, so that you are not involved in the unpleasant situation of losing money.
Call our Argentine lawyers with confidence if you are interested to buy a property in Argentina. We can take care of all the formalities related to the sale and purchase of a house. We can help foreigners buy an apartment in Buenos Aires.
Do you want to obtain residency in Argentina? Our lawyers can offer you specialized legal advice right from the start. In this way, you will ensure that all documents are correctly drawn up. Among them, you must present health insurance that is also valid for family members, if you apply for them as well. We also mention that the temporary residence permit in Argentina is for a minimum of 2 years, after which you must apply for permanent residence. We recommend that you discuss all legal aspects with one of our lawyers.
You might want to watch a video presentation we have prepared on how to buy real estate in Argentina.
Real estate due diligence in Argentina
Verification of a property in Argentina is required prior to purchase. This is where real estate due diligence comes into play, a process that can reveal various irregularities. In principle, a house should not be registered with debts before the sale. Also, hidden litigations should not exist. However, with real estate due diligence in Argentina, such problems can be discovered and prevent a failed transaction.
More about how to buy a property in Buenos Aires can be found if you talk to our attorneys in Argentina.
Rights to buy real estate in Argentina as a citizen of the US
American citizens must consider all the conditions for buying real estate in Argentina. Certain restrictions must be taken into account. Here is some information for US citizens who want to buy real estate in Argentina:
- Foreign ownership for US citizens in Argentina is limited to border areas and nearby coastlines. Control is maintained over strategic locations, therefore, restrictions are imposed in Argentina.
- Permissions to buy in restricted areas of Argentina are rarely issued. One should discuss with our Argentine lawyer about such an aspect.
- US citizens cannot buy more than 1,000 hectares of land in Argentina’s fertile regions. The government in Argentina intends to prevent disproportionate foreign control over agricultural land in this country.
- US citizens can buy as many properties as they want in Argentina, as long as these are not in restricted areas. Complying with the legal requirements for buying an apartment in Buenos Aires is mandatory.
- There is no minimum investment amount imposed on US citizens interested in buying real estate in Argentina.
Can US citizens buy land in Argentina?
Yes, American citizens can buy land in Argentina, taking into account the restrictions imposed by the authorities. As stated above, there is a limit regarding land ownership in Argentina, and US citizens cannot buy more than 1,000 hectares of land. It can be used for various purposes, for example for the development of commercial or residential buildings.
On the other hand, it is not allowed to buy land in Argentina at the borders of the country or coastlines because these areas are under government protection. US citizens who want to make investments in the real estate sector in Argentina can direct their attention to the touristic areas of the country. For example, they can buy land in Argentina in cities like Buenos Aires, Mendoza, Cordoba, or Patagonia if they want to develop their business ideas in the tourist sector of this country.
It is recommended to analyze local zoning and restrictions, as the case may be. This helps to develop plans in the real estate sector for US citizens interested in buying land in Argentina. With the help of our lawyers in Argentina, you can find out all the legal aspects of buying real estate in Argentina as a US citizen.
What to consider when you want to buy a property in Argentina
Buying an apartment in Buenos Aires or any other city in Argentina requires attention in terms of legal aspects. Here are some things to pay attention to when you want to buy a property in Buenos Aires:
- It is recommended to check the history and documents of the property in question. Thus, make sure that there are no legal disputes that require quite a lot of time to resolve them.
- You must familiarize yourself with the legislation in Argentina and see if there are any restrictions on property purchases. For example, in certain areas, the purchase of real estate property is prohibited.
- The purchase of a real estate property in Argentina is done taking into account the currency exchange, as well as the fluctuations in the market.
- Property fees imposed in Argentina must also be taken into account.
Real estate facts and statistics in Argentina
The real estate market direction in Argentina shows strong demand for luxury properties, mainly in Buenos Aires, the capital city. Here is some other interesting information about the real estate sector in Argentina:
- A real estate market value of approximately USD 3.28 trillion is expected by the end of 2024 in Argentina.
- According to estimates, the real estate market can grow by approximately 1% in the period 2024-2028 in Argentina.
- The largest share in the real estate market in Argentina is the residential property sector, which can reach an estimated value of USD 2.18 trillion in 2024.
If you would like to know details about immigration to Argentina, we recommend you contact our legal services. We can take care of the formalities and paperwork for obtaining the necessary visa and residence permit. We mention that you will need a passport with a validity of at least 6 months, and accommodation in Argentina for which you must present a rental or property ownership contract. The authorities can also ask for a clear criminal record, so you must also prepare this document.
In addition to the legal services offered for buying a house in Argentina, our specialists can offer you others. Our immigration lawyers in Argentina can help you with the formalities and procedures for obtaining Argentine citizenship. Want to know more about how to buy a house in Argentina? Contact our law firm in Argentina and ask for details about the services offered.