Argentines are tempted to buy apartments in the United States.

While construction prices continue to be cheap due to the peso’s devaluation and there is a lot of construction going on in different parts of the country, there is growing interest from local investors to put their chips overseas.

Perhaps for this reason, at the real estate fair that took place in the last two days, the supply of foreign developers, especially with initiatives in the United States, was more than substantial. In this context, thereal estate agents“has developed a wide range of projects to capture the interest of those looking to get a better slice of the real estate business.

“Historically, the United States has been a pole of attraction for investment by the entire region and especially by the Argentines,” explains Ariel Arrocha, director of Latam in the United States.

In order of importance, according to the director, the Argentines do in the first place in that country, financial investments, then in the real estate sector and then in development and infrastructure.

In the case of real estate, “Argentines usually invest cyclically in two moments: one of luckwhen there is an excess of capital, and also in moments of crisis What receipt of valueas it happens today, “he says.

According to the expert, in South Florida, four of the top 10 developers are Argentine. They were looking for “legal certainty, stability in terms of sales, fixed rates and better returns,” he lists. Of course, they invest in the medium and long term, she clarifies.

The areas in which the largest number of initiatives are carried out have changed, according to the entrepreneur: “Currently there are not many in New York, Miami, Los Angeles or San Francisco, where the returns are no longer so attractive, but rather yes. are developing more marginal places like Detroit, Cleveland or Philadelphia, where the rent is higher.

On average, in the United States gross rent is between 4.2% and 5.2%, according to data from the National Real Estate Association. In Argentina, on the other hand, despite the fact that there are higher yields in some areas of the interior of the country, in the city of Buenos Aires, this yield does not exceed 2.5%.

Among the developers with proposals for South Florida, he has lined up Related groupthe company created by the entrepreneur The Argentine Jorge Perez . Now his son Jon Paul has shown information about his current projects: the luxurious Baccarat, NoMad, St. Regis and Casa Bella towers.

In his experience, Argentines are the third largest international buyers in Latin America, after Mexico and Colombia.

Also gil dezerthe tower builder Trump, Armani and Porschejoined the event to promote the sale of another luxury building which is being built in collaboration with the prestigious British car brand Bentley in the Sunny Isles area of ​​Miami.

Other investment projects in residences and short-term rentals were exhibited Cipriani Residences Miami, Okan Park Tower, Aria Reserve Miami, Onda Residences and Vita a Grove Isle.

According to Carlos Rosso, an Argentine architect who attended the fair to promote the sale of a 33-story tower north of Miami called One Park Tower, that city “has always been a great deal: if you look at the dollar prices in Argentina. compared to what they were in the 90s, they are more than depressed. On the other hand, if they had run over them in Miami, they would have gone the other way, “he said.

Today, the average price of a house in that building, with shops, restaurants, recreation areas, and even a lagoon, is of US $ 8,000 per m2.

In addition to the proposals on investments in the United States, the stands also showed initiatives in neighboring countries such as Uruguay and Paraguay.

Cristian Arias, new business manager at Paraguayan developer Hupi, noted: “We are receiving a lot of visits from Argentine investors who are looking to see how the market works,” he said.

This company, focused on the “first home” segment, ensures that you can get returns from 7% to 12% per year in Asuncion and surroundings. Also a picture of “macroeconomic stability” which contrasts with the volatility of the Argentine economy, according to the entrepreneur.

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