Nottingham, United Kingdom (PressExposure) April 19, 2008 -- In what could still happen in the American Presidential election, December 2007 saw Ms Cristina FernÃ¡ndez de Kirchner replace her husband as President of Argentina. Not surprisingly she has continued many of her husband's policies, and almost three quarters of her cabinet was part of her husband's. This means there is no threat that her election will do any harm to Argentina's rapid economic growth of late, or make Argentina any less appealing to overseas property investors.
For a buy-to-let investment Argentina is easily among the best countries in the world to make a purchase. Hot weather, glorious beaches, and as a city Buenos Aeries is one of the world's most famous cities. Touring Latin America is becoming a very popular holiday, seeing things like rain-forests, enjoying the humid heat as oppose to the dry heat of say the Costa's and the great cities like San Jose and Buenos Aeries as well as Costa Rica's volcanoes and rich bio-diversity.
David Stanley Redfern Ltd's Head of International Research Liam Bailey explained how the recent election will affect Argentina's flourishing property investment market:
"The Rental market, especially in the popular areas like Buenos Aeries will continue to be strong, and the average rental yield will remain an exceptional 10% -- again in Buenos Aeries. Economic growth will continue to be strong in the short-term because the new President continued many of the policies that so rapidly turned the Argentinean economy round from its disaster and has seen it grow incredibly, but the continuance of these policies also means that if price controls will need to be introduced and managed very skilfully to bring Argentina's spiralling inflation rates under control, and to ensure the transition from extraordinarily high GDP growth to a more sustainable level is a smooth one.
At the same time, the biggest importer of Argentinean goods is Brazil, and if Brazil does as experts predict and grows into the world's fifth largest economy, given its trade relation with Argentina, Brazil's growth could have a stabilizing effect on Argentina's growth transition. Either way, Argentina's property market played the biggest part in Argentina's rapid economic recovery, which shows that the property market tends to affect the economy more than the economy affects the property market."
Most people investing in Argentina currently are buying a holiday home with a view to letting it when not in use, and these buyers have nothing to worry about from the change in government. People making a long term investment should not take Argentina off their short-list either though, because Argentina has what it takes to become as popular with tourists as Spain, and that kind of popularity will see growth in the property market for many years to come.
Find out more about Argentina investment property at: http://www.davidstanleyredfern.com/investment-property/argentina/