Capital: Buenos Aires
Language(s): Spanish (Official)
Area: 2,780,400sq km
Population: 2012 estimate 41,281,631
GDP (PPP): 2011 estimate
Total: $710.7 billion
Per capita: $17,376
Sweeping from central South America to Patagonia, Argentina is South America's second largest country, and the world's eighth largest. Its wide tracts of fertile land and richly varied terrain mean an enormous diversity of climates and locales. Its natural wealth and well-educated workforce have contributed to its rise as an Upper-Middle Income country. Argentina is one of the world's leading agricultural producers. The flat, fertile plateau of the Pampas region is central to the Argentine economy. Argentine beef is prized, and fine wine from the Mendoza region has gained international recognition. Argentina is also rich in gold, silver, copper, and other important minerals.
Despite a recovery from the global downturn during 2010 and 2011, the number of real estate transactions in Buenos Aires fell 46% to 6,315 in July 2012. Residential transactions dropped 15% in Buenos Aires during the year to May 2012. No strong movement in residential apartment prices has taken place in Buenos Aires, Argentina, over the past 2 years. If anything, the trend is toward some upward movement (following some increase in rents). The average apartment in the center of Buenos Aires now sells for around US$2,468 per square meter.
Rents have been rising. During 2009 they fell significantly in terms of US$, but now they are stronger again. Average apartment rental yields are around 6% to 7%. House prices have been a little weak, and US$1,100 per square meter is a typical price now. The result is that a gross rental yield of Buenos Aires houses is rather attractive from the perspective of landlords, at over 9.5%.