Thinking of buying property in Argentina?
It can be a great idea if you want to spend even more time in this amazing country (and have a place of your own).
Whether you’re interested in a historic apartment in Buenos Aires, a villa in Mendoza, or a lakeside property in Bariloche, there is something here for everyone.
The buying process can be a bit tricky – especially if you’re not familiar with how things are done in Argentina.
It can be hard to navigate the process between paperwork, language barriers, and unscrupulous people.
Luckily, that’s why we are here.
We did the research and after consulting with many expats we wrote this guide.
Let’s dive in.
Before You Begin
So what do you need to know before you start this process?
Here’s what documents you need to buy property in Argentina:
- Passport
- 2nd form of ID
- CDI (clave de identificacion) => This replaces the local CUIT or CUIL (Argentinian citizen’s tax ID)
How To Get CDI
You have 2 options here: you can either pay someone to get you the CDI or you can do it on your own.
Paid option: escribano or any accountant worth his salt can get this for you for a small fee. They do need a power of attorney (apostilled if you’re outside of Argentina).
DIY: It’s free, and it should take only one hour of your time.
You need to go to the AFIP (Argentine tax authority) office that corresponds to your Argentine address.
You need to bring:
- Your passport
- A photocopy of your passport
- Proof of address in Argentina (certificado de domicilio)
If you don’t have an Argentine address, you will need a proof of address in your home country.
Step-by-Step Process
Here are the exact steps to buying property in Argentina.
- Property Search
- Make an offer
- Offer accepted
- The signing of boleto (optional, and can be jumped over to go to ‘escritura’)
- Signing of escritura
Let’s explain each one in more detail.
Property Search
Before you start your search, you should have a general overview of your criteria.
We’re talking about things like:
- Budget
- Location
- Amenities
- Size
- Timetable
And so on.
With those in mind, here’s where you can go to look for properties:
- Your agent: If you decide to hire an agent to help you find properties, they should have a selection of properties in their portfolio that you can check out.
- Property listing websites: Websites like ZonaProp, ArgenProp, and similar are going to have a wide selection of properties for every budget.
- Facebook groups: Facebook groups can be a good source of leads (especially if you speak Spanish). Just search Facebook for “propiedades” + your location of choice (e.g. Buenos Aires, Mendoza, Argentina, etc.).
- Walking around: If you have the time (and desire) you can always walk around the neighborhood you’re interested in and search for “VENDE” or “VENTA” signs on the windows of apartments. They will always include the number of the listing agent alongside their website.
Making an offer (reserva)
This part is similar to what you see in the United States:
After viewing different places, either with one broker or through a website, you meet with the listing agent to present a written offer (also known as “reserva”).
The offer is accompanied by some earnest money (depending on the property’s value – usually between $2k and $6k in USD bills – more if we’re talking about higher-priced properties). This money is kept by the listing agent.
This serves as a letter of intent and a binding agreement to purchase the said piece of property – if and ONLY if your offer is met (e.g. the amount is accepted, there are no liens on it, etc.)
It also removes the property from the market, and the seller can’t show it to any other interested parties.
This offer is usually valid for a week.
Offer is accepted/rejected/negotiations
From this point forward, a couple of things can happen:
- The offer is accepted: The broker relayed your offer and the seller accepted it.
- The offer is rejected: for whatever reason, the seller felt your offer was too low.
- The offer is countered: the seller comes back with their offer.
- The offer is accepted but you decide you don’t want to proceed with the purchase.
Only in case #4 would you lose your deposit.
In all other cases, you get your money back.
In case #1, the deposit money is put forward towards the sale.
Signing of boleto (optional)
The Boleto is a private document signed by the buyer and the seller.
This solidifies the terms and conditions of the property purchase.
Culturally, here is where 30% of the price of the property is paid.
Additionally, the broker’s fee is paid (traditionally, 4% for the buyer, and 3% for the seller).
And yes, in Argentina both parties pay the commission.
NOTE
You can also just skip this step and go straight to signing the escritura. There is really no reason why you can’t do this: the signing of the boleto is mostly done so the broker can collect their commission sooner rather than later, and also for the seller to get some money to start some of the processes they need to start, for the sale.
Signing of escritura
The signing of escritura (e.g. the deed) is the final step in the process.
Once the deed is signed, it’s recorded in the county’s register office and it can’t be opposed.
What this means for you is that you’re 100% protected once you purchase your property.
Also, worth mentioning is that traditionally the buyer chooses the notary who will draft the deed, with the seller choosing the place.
Potential Risks & Problems
Buying a property in Argentina is not without its risk.
Here are just some you need to pay attention to:
- Unforeseen circumstances: If anything happens to either the buyer or the seller between the signing of the boleto and the signing of the escritura, both parties might get stuck in legal limbo for an unspecified amount of time. The chance of this happening is extremely low, but it is still worth mentioning.
- Iffy paperwork: for example, property not having a proper escritura. To avoid complications, such as inheriting unresolved disputes or incomplete documentation, verify all claims independently through your agent or escribano. Conduct thorough due diligence, especially with inherited properties, to ensure all heirs have agreed to the sale.
- Language barrier: Buying a property can be stressful enough in your own country. But in a foreign country where you don’t speak the language? It can be downright anxiety-inducing. The key to overcoming this risk is to work with a bilingual agent who has your best interests in mind.
FAQ
Still have questions?
No worries – we have the most common ones listed here.
In case you have additional questions, feel free to reach out to us using the feedback email we have listed.
Can foreigners buy property in Argentina?
Yes. While there might be a few restrictions regarding certain types of properties (land, close to bodies of water, etc.), they do not apply to 90% of properties you’re likely to want to buy.
Foreigners have the same rights to own property as Argentine citizens, as outlined by Article 20 of the Argentinian constitution.
In what currency will I buy the property?
All property purchases are made in USD.
While the Argentinian peso is the official currency of Argentina, all real estate purchases are done in US dollars (and have been done since the 1970s).
Can you become a resident in Argentina by buying a property?
There is currently no visa or expedited process for obtaining a visa for property owners.
Do I need a visa or residency to buy a property?
No – you can buy property in Argentina just with a tourist visa. The general openness to buying property is one of the major pros of Argentina as a country.
Conclusion
Congratulations – now you know how to buy property in Argentina!
Owning a property in Argentina can be a great decision for some people, whether you’re buying for lifestyle or investing purposes.
