Hi! I am new to the forum and I prefer to start contributing before asking for help. I'm from Buenos Aires, Argentina, and i will tell you the situation here. It's not a good real estate market, in fact i'm looking to invest in USA. Some factors:
1 - Low ROI. 2-3%
2 - High prices. Since 2001 they are going up (who invested in that time had a lot of benefit). Prices are slowly starting to go down, but you have to understand that real estate here is a synonym for savings protection, so that changes the behavior of the market. Pandemic also encourages price drops in construction projects.
3 - Properties are traded in US dollars like @Mike Lambert said. So you don't have a direct benefit being from another country.
4 - There is no risk that the government will confiscate your property. That doesn't happen, it would be something extraordinary. But its true that history has taught us not to trust the government.
5 -There are exchange controls. Argentina regularly prevents US dollars from leaving with high taxes to the point that it is more profitable to send money illegally through private financial companies.
6 - We can't afford money leans because of the high rates. And of course, this is a problem for millenials, it's very difficult to buy a house/department because our remunerations are in Argentine pesos and every time we earn less in dollars. This is VERY different from your country. Earning money in Argentine pesos it's the same as throwing money in the trash for the consistent devaluation and inflation (today 1 US dollar is 120 pesos in the black market)..
I think there is no reason to invest here if you are from USA, unless you are interested in having a property for personal use, Argentina is full of beautiful places but i think that is better to invest your time, analysis and money in another more profitable market..
