I'm a few days behind on this post... I moved from the neighborhood of Villa Crespo this week, and amidst the bustling transition, the world's first Libertarian president was inaugurated here in Buenos Aires. Needless to say, I've been a bit occupied. Nevertheless, better late than never!
This week's blog explores the unique dynamics of real estate in Buenos Aires, delving into various housing options. Additionally, it discusses cultural insights gained from touring an apartment, culinary experiences highlighting popular restaurants with multiple locations, and the ongoing challenge of obtaining USD in Argentina.
Real Estate
Buenos Aires presents a diverse range of real estate options for prospective buyers eager to make their mark in this lively city. From departmentos (apartments) to Propiedad Horizontal (PH), houses, and departmentos profesionales (professional apartments), there's a housing solution to suit every taste.In the coming months my plan is to live in each of the main neighborhoods and scout out the surroundings to identify the most optimal location for a real estate investment and while I’m here check out some of the properties available. It’s worth noting that the real estate dynamics here are pretty distinct from those in the US. Here are a few things I have learned so far.
Departmentos, akin to apartments in the US, come in monoambiente (one-room) and dos ambientes (two-room) configurations most commonly. They do come with more ambientes, but I am mainly looking at these ones for my budget and personal requirements. The dos ambientes is equivalent to a one-bedroom apartment in the US. The dos ambientes layout is equivalent to a one-bedroom apartment in the US. Here, common areas are categorized as one room, while a separate bedroom with a door qualifies the space as having two rooms. Some listings use the term 'studios,' but it appears to overlap with monoambientes. While they seem synonymous, potential nuances—similar to the distinction between condos and apartments in the US—remain to be clarified.
The concept of a PH remains somewhat elusive to me. From my research, it appears that the key distinction between a PH and a standard apartment is that a PH provides an entire floor within the apartment building. In a typical apartment scenario, taking the elevator to the 6th floor might reveal a hallway with three separate apartment doors, each offering a distinct view of one side of the building. In contrast, a PH on the 6th floor would likely consist solely of your apartment door, granting a panoramic 360-degree view of the entire building. However, as my understanding evolves with each discovery, I acknowledge the need for a definitive answer. If any of you can shed light on this, please share your insights!"
Houses in Buenos Aires mirror their US counterparts, with the building belonging entirely to you but sharing walls with adjacent structures. Houses at least in the city do not stand on their own that I have seen.
The most intriguing option, in my opinion, is the professional apartment. These are living spaces within a building equipped with a kitchen and bathroom, serving a dual purpose as a residence or an office/practice for professionals. It's the perfect fusion of work and leisure, offering an ideal starting point for one's professional journey in the heart of Buenos Aires.
Culture
This week, I had the opportunity to tour an apartment for sale in Villa Crespo, and it was quite an interesting experience. I had been in touch with an Argentine gentleman for a week, gathering information about the apartment. When I found myself in the neighborhood, I decided to reach out to him via WhatsApp to see if he was available for a tour. He promptly met me at the restaurant where I was dining and we walked over to the apartment together.
During the tour, he spent a considerable amount of time showing me the apartment and sharing valuable insights about Argentina. We even chatted about the cultural differences between Argentina and the US. As we walked back to the restaurant, I offered to buy him a beer the next time we met, as a gesture of gratitude for his time and help.
Surprisingly, he explained that in Argentina, relationships aren't transactional like in the US. People will sometimes go out of their way to help others without expecting anything in return. He reassured me that I didn't owe him anything and that it was simply a part of their culture to be helpful. While it was a bit challenging to convey that my offer stemmed from genuine appreciation and a place of friendship rather than a sense of obligation.
Culinary Experiences
This is a city that takes its food seriously. It seems that some of the more popular restaurants have multiple locations, on the same intersection!
For example, Che Bonche, the bustling restaurant and bar has two locations on the same intersection. Why? Because one location just isn’t enough to meet the demands of the tourists and locals alike. And I will say on the weekend people were lined up to get a spot at the larger location, but the smaller location just across the street was also packed full of people. The same goes for Salgado Alimentos, the Italian eatery I mentioned in my dog-friendly restaurants of Villa Crespo blog. It seems to also have a main, larger location and then a smaller one, possibly catering to food deliveries during the dinner rush.
Currency Challenge
Well, last week’s saga continues... I have tried approximately 6-7 different ATMs that claim to dispense USD, only to be met with disappointment. My next move was to explore the Western Union option.
Here's the lowdown on how it works:
Download the Western Union app and create an account.
Send money from your home account to your Western Union account.
Pick up the cash at a Western Union location.
The first transaction is free, but subsequent ones incur a fee, which varies based on the amount sent and the method used.
Here are a few examples:
Sending $1,000 USD using a debit card: $61.99 USD fee (takes minutes)
Sending $1,000 USD using a bank account: $56.99 USD fee (takes 0-4 business days)
Using a credit card: Your bank may charge it as a cash advance, so it's not recommended.
I chatted with a Western Union representative to verify the process and was informed that they only give out Argentine Pesos (ARS), not USD. The explanation given was that USD enters Argentina from the US and once it's spent, it's gone, and you cannot get USD out of Argentina. This contradicts the experience of a gentleman I met last week who managed to withdraw USD from an ATM... something doesn't quite add up, and I feel like there's an elusive piece of the puzzle I'm missing. Perhaps the only way to get USD out is to have an Argentine bank account (not Western Union) and transfer USD from your home account to the Argentine account, which would then allow you to withdraw USD from ATMs? It's just a theory, but it's worth considering.
If you're visiting Argentina, I strongly suggest bringing USD in cash. If you prefer not to carry a large amount of USD internationally, you can use the Western Union option to withdraw a substantial sum of Argentine Pesos upon arrival, which you can then use throughout your trip. Keep in mind that withdrawing a large amount of cash means you'll be carrying a considerable number of bills.
For example, if you send yourself $1,000USD to WU and receive 988,000.00ARS or 988 bills. Yikes!
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