More bang for the U.S. Buck-- Chile or Argentina? (sale, real estate)

[KARL_MARX]

Looking to take a 10 day trip to either one with the intention of getting a apartment for that span. Please share info on either country.


P.S. I'm a city person so it's Buenos Aires or Santiago

[fromdust]

well if u r just talking about exchange rate its about 3.64 pesos for our dollar in argentina, and 604.229 pesos for chile.

[KARL_MARX]

yeah buddy i realize that, but what does that actually mean? I need concrete examples

[DBCC]

Exchange Rate: u$1.00 to ARG$3.73 - 03.11.2009

Hi there, I have transcribed this comment from another thread in which I made a comment to friends on the cost of living in Argentina. I have no idea on your age group, but have added comments that may be of interest.

Chile is by far the most advanced and progressive of the two countries, has a progressive and productive government, and the people are much more attentive in Santiago than they are in Buenos Aires, where arrogance abounds. I am unfamiliar with current costs in Santiago as I was last there in July last year. Hopefully someone from there can shed more light for you.
Santiago is somewhat safer to move around in than BsAs.


Many expats are moving to Argentina, but not a large percentage of them to the City of Buenos Aires.
Depending on your income and what you intend for your trip, you will find that many American tourists seek a Vacation Resort like valley in the Cordoba province of Argentina.
Cordoba city boasts a population of 1,5 million has an amazing history, and was the main supply route on the way to the north during the times of the Jesuits/colonization. There are beautiful estancias (B&B's) along the Jesuit routes. Historical architecture, amazing hills, and a night life second to none in the remainder of the country.
The main City in the Valley of Punilla of the Province of Cordoba is VILLA CARLOS PAZ. It is the second tourist city in the country and boasts a static population of 70k, but can go up to 200k in the summer (Dec-March), Easter Weekend, and World Rally/Dakar South America periods.
Housing can be rented (Short term during Summer = High Rates, and March-November = Low Rates)at extremely reasonable prices for extended rents (minimum two year periods).

A Good hotel **** 4 Star can cost approx ARG$250 double, with breakfast, and excellent service.
The most expensive restaurant in the City could cost approx ARG 120.00 per head, including aperatif, wine, three course meal, dessert, and a Whiskey afterwards. One can eat at other restaurants with extremely good fare, a la carte, for less that ARG$120 for two, including entree, meal, good wine and dessert, and a whiskey afterwards.
For e.g. A Three bed roomed/Two Bath roomed, modern type home, with double garages/swimming pool, asphalt road and a view of the lakes/ mountains will go at approx U$600 per month for a two year rent. The same house will cost you double + during the summer months for a short period not exceeding 30 days.
For a Two week rent on an excellent residence for two people at the present time one would expect to spend ARG$3000.00 for a 15 day period. All amenities/utilities included, and maid in daily.
Many Americans choose to build their vacation home here to get away from your harsh winters. A Three bed roomed/Three bath home, double garages, view of lakes mountains, all in Brick/Mortar and anti seismic, could cost less than U$100k. It is a matter of looking around and having a reliable Real Estate Agent who will look after your interests and find the right land for you to build on.
Other American families come to Argentina during the US winter and return for the latter's summer. They rent out their home(s) whilst away but have Real Estate supervision of their property when absent.
I have met many Americans/Canadians/Englishmen who work on this system and make investments in Argentina in small ranches which they have exploited as B&B's - Adventure tourism, or a place to get away from the hustle and bustle of the cities.
Some "rotate" their properties with a Real Estate company to obtain bigger and better properties when financial crisis hits Argentina and inflation starts (Like right now) , or there is a need for fast cash by a seller.
Many friends have come here and bought low value properties, renovated them and make a magnificent profit which they have used for investments in other countries.
Argentina is a good deal if you have the capital and other areas, such as San Martin de Los Andes/San Carlos de Bariloche have been subjects to large investments in recent years by none other that Sylvester Stallone/Ted Turner etc.
By the way: Education is free for residents at the Primary/Senior/High School levels. University is free for residents at National Universities.
Medical Services are excellent and it is recommended a good Medical Insurance from abroad.
Safety and Security: Buenos Aires: High Risk Rest of Country : Low Risk. If you are not too ostentatious, will never have any problems at all, just like any other country in the world. Banking: try and avoid depositing money in local banks. Keep your income outside the country and use a credit card/travelers cheques or use HSBC/Citibank or other internationally recognized banks. Having said that, Bank of America collapsed and left many a client without reimbursement. Transport: Buses are widely used and are not expensive and a magnificent infrastructure second - to - none in South America. Flights work between all major centers as long as there is not an important football (soccer) match. Cheapest New car on the road will set you back at least U$15K cash. Hire purchase plans available. LPG is used in 70% of vehicles on road and works out cheaply. Remaining 30% is diesel/ordinary fuel. Recommend bring your car with you as new resident. Communications: Roads between major centers excellent, well marked, Toll Gate system.Internet: Many services, one sole owner/operator. Freely available and broadband/satellite connections available. Cellphones: Three competitive companies all belonging to TELECOM Argentina. TV: Direct TV/Satellite available with major international channels Full service will cost less than U$50 per month. Cable also available in urban areas. Home staff (Cook/Maid/Chauffeur) Approx U$ 500 per month per person.Home appliances: all available Cost of living: 4 member family: Living well with good food, eating out four times a month approx U$800 per month. Utilities: Energy/water/gas, Urban areas; Approx U$ 100 per month.
Hope that gives you some idea to look at or think about. I have been living here for the last 24 years and have come to love this country but will be returning to settle in the US in a couple of months for family reasons. I will miss Argentina but will return.
Hope this helps. I am aware that we may not propose or advertise on this site so if you have any queries and would like to know more, I can assist if you contact me directly if you are looking at the Argentine option and I can send you web pages/details on how to organize your trip. I can also recommend other cities as I have traveled extensively in Argentina, as you will see from my photos.
Good luck, and again, hope this helps
Dee

Shucks ;( sorry, I forgot....if you would like to see some pix of Argentina I have added a few on my site for those who may be interested........Have a great Wednesday.
DBCC (Nick onCD)

[KARL_MARX]

Thank you very much. But I'm Curious about what one could do with a 100 dollars in Chile?

[DBCC]

Any Chilean CD "Forumers" out there? You input appreciated.......

[PeixeGato]

I was in both of these cities WAY back in 2003 and found that in Santiago, it was much harder to find high quality, inexpensive places to stay. There just didn't seem to be many really nice hotels in Santiago that didn't set you back as much as a nice hotel in the US would (obviously geared toward international business travelers). There was a LOT more to choose from and you got much more for your money in Buenos Aires when it came to hotels. Aside from that though, I found just about everything else to be much cheaper in Santiago, be that food, groceries, wine, clothing, activities, etc.

I'm not sure if that has changed any since then, but it gives some perspective (hopefully). Also, the exchange rate is better in Argentina now than it was then. The opposite is true for Chile (the exchange rate is worse now than it was then). So this may change things a bit. Then again, I've heard that Argentina has been experiencing significant levels of inflation, so those price increases may offset any benefit of the better exchange rate.

[pigeonhole]

Q to DBCC : I'm from the eurozone, and if I wanted to invest in Latin America, do you think it would me more interesting for me in Mexico, Brazil or Argentina ?
I could have up to 200.000 Euros(273.000 $ at today's rate) to invest in real estate down there.
Do they have the same restrictive laws on foreign property in Brazil/Argentina as in Mexico? ("fideicomiso")...muchas gracias

[DBCC]

PiGEONHOLE: Hope this helps



Purchasing Process in Argentina
There are no restrictions for a foreigner to purchase property in Argentina. The purchasing process normally can be completed in 30-60 days. The only documentation required from the foreign investor is a CDI which is an identification number obtained from the Tax offices (AFIP)
Expenses
Expenses for the purchase of a property are shared between the seller and purchaser.
Title deed registration, commissions and registration of the property normally represent up to 10% of the value of the property purchased.
Property purchasing in Argentina is normally in U$ Dollars (U$D)
FAQ’s
1.Are there restrictions for a foreigner to purchase a property in Argentina?
There a no restrictions for the purchase of property by a foreigner in Argentina
2.Can the property be purchased in the name of an individual or must there be a civil society formed? Which is the most convenient and what is recommended?
In the purchase of your first property, no personal gains tax is required. In this case, the manner of the purchase is decided by the purchaser. It is easier to buy as an individual, as if bought as a partnership/society or partnership, there is more paperwork and the taxes on the sale will be higher. The best thing to do is form an “Anonymous Society” (Sociedad Anonima) in Argentina with a local domicile, even with foreign owners, and then complete the title deeds in the name of the Society.
3.What does a Notary Public do and what is the function of the CDI?
A Notary Public ensures that the property that you are purchasing does not have any debts, unpaid taxes, utilities etc. They examine the title deeds and make the background checks to ensure that there are no prejudices suffered to the purchaser, i.e., ensure that everything is legal. If there are debts due on the part of the seller, the Notary Public ensures that all debts are paid by the seller before proceeding with documentation for an on behalf of the purchaser.
CDI is an identification issued by the Revenue Department which is necessary to authorize foreigners to purchase property in Argentina. This form is obtained through the AFIP and is included in your passport
4. Who has the right to choose the Notary Public?
The purchaser has the right to choose the Notary Public. I can recommend thatse that I consider efficient and have experience dealing with foreigners./ or speak English, and thus can evacuate all enquiries direct with the purchaser.
5.Are there any special conditions related to any offer being made?
The difference between purchasing in Argentina to other countries is that there is no obligation that certain items remain on the property following the purchase, eg, Lighting applications, air conditioners etc should be a separate and agreed upon additional value. These conditions should be discussed at length, agreed upon, and included in the agreement of purchase.
6. Land Taxes/Construction Taxes that are due. Who does the background checks and resolves these issues if there is any debt?
The Notary Public does a complete analysis of the debt history of the property concerned.
If a debt does exist, the Notary public sill retain the amount due from the seller’s account to settle any debts that are outstanding.
7.Can foreigners have a bank account?
No problems, can open an account in a bank with the CDI and your passport.
8.Who pays the Title Deeds and regsitration fees of a property?
The purchase costs and registration of a property are the responsibility of the seller/purchaser, not necessarily in equal amounts.
9. Are Home purchasing loans available in Argentina?
Yes there are for Argentines but unfortunately not available to foreigners. What is available for foreigners is a direct financing from building companies or developers.
10.. What are the Administration Costs for a property owned by a foreigner?
Typical administration expenses will vary from between U$50 and U$ 100 monthly, depending on the services required.



Any questions, please let me know!
Have a great week ahead
Dee

[pigeonhole]

Thank you very much, DCBB
I've seen on Google earth that there seems to be a big lake or "embalse" north of Cordoba, is it a nice place for leisure, swimming, boating ?
Would you definitely advise me to look for bargains in the Cordoba region more than other regions in Argentina (I would also be interested by the north, more subtropical, around Tucuman...)
Thanks again for the legal tips.
Pigeonhole