Buying property in Argentina as a foreigner is remarkably straightforward compared to many countries, with minimal restrictions and a relatively simple process. Argentina’s constitution explicitly guarantees foreign property rights, allowing full ownership without the leasehold arrangements common elsewhere. Most transactions can be completed in 4-6 weeks, and you don’t need residency or a work visa to purchase property—a tourist visa is sufficient.
Legal Framework and Entry Requirements
Who Can Buy
Foreigners have identical property rights to Argentine citizens under Article 20 of the Argentine Constitution. There are virtually no restrictions on property types, including apartments, houses, condominiums, commercial properties, and farmland in non-restricted areas. The only meaningful limitations apply to rural land, which is governed by specific regulations outlined below.
Rural Land Restrictions
Argentina’s Ley de Tierras (Law 26,737) has historically restricted foreign rural land ownership. As of December 2025, this law remains in a legally ambiguous state. While the Milei administration repealed it via decree in 2023, the repeal is subject to a constitutional challenge, meaning the restrictions technically remain in effect until the Supreme Court rules. The restrictions include limiting foreigners to 15% of rural land at the national, provincial, or municipal level, with individual foreign nationals capped at 30% of that total (meaning max 4.5% by one nationality). In core agricultural zones like the Pampa Húmeda, foreigners cannot own more than 1,000 hectares per person. Additionally, properties bordering major bodies of water or located in border security zones are off-limits to foreign buyers. However, given the government’s stated commitment to liberalizing foreign investment, these restrictions may change. Always verify the current legal status with a local attorney before pursuing rural property.
Essential Documentation and Registration
Passport and CDI (Tax Identification)
Before purchasing, you must obtain a CDI (Clave de Identificación), which is Argentina’s tax identification number for foreigners. This is the single most critical document. To obtain it, you’ll need your valid passport, proof of Argentine address (hotel receipt, rental agreement, or utility bill), and a domicile certificate from your local police station. The process takes 1-2 weeks and can be handled through a local representative with a properly executed power of attorney, allowing remote management.
Address Verification and Tax Registration
Foreign buyers must register with AFIP (Argentina’s Federal Tax Authority) within two weeks of obtaining the domicile certificate. You’ll need your original passport, two photocopies, and must appoint a local representative for tax purposes (usually an accountant) if you’re a non-resident.
Proof of Funds
You must demonstrate the provenance of your purchase funds to the notary public (escribano), who is ultimately responsible for reporting this to AFIP. Money must enter Argentina through authorized banking or financial institutions approved by Argentina’s Central Bank. Avoid cash transfers; formal banking channels are essential.
Currency Considerations
Purchasing in US Dollars
All real estate transactions in Argentina are conducted in US dollars—this has been the standard practice since the 1970s. With over 70% of property assets priced in dollars, the market has effectively dollarized despite the peso being the official currency.
Getting Dollars Into Argentina
This is one of the most complex aspects of buying property in Argentina. Currency controls restrict how foreigners can obtain dollars locally. Several strategies exist:
- Banco Piano: Uses a creative mechanism where it buys stocks or bonds in US dollars and transfers them to your Argentine account for quick sale, effectively converting pesos to dollars at favorable rates. This costs approximately 3-5%, but fees can be paid in pesos at the official rate.
- International Banking: Some buyers source financing from home country banks or transfer existing dollar holdings internationally through established banking relationships.
- PAIS Tax Reduction: As of 2024, the PAIS tax (currency exchange tax) was reduced from 17.5% to 7.5%, making currency conversion more affordable.
Be aware that currency regulations change frequently in Argentina. Work with a local attorney to determine the most current and efficient methods before proceeding.
Step-by-Step Purchase Process
The property purchase follows a clear four-step sequence taking 4-6 weeks total.
Step 1: Property Selection and Reservation (1-2 weeks)
Once you’ve identified a property, make an offer and submit a reservation (called a “seña”). Typically, you’ll deposit $1,000-$10,000 USD to secure the property for 1-2 weeks while the seller considers your offer. If the seller rejects your offer, you receive this deposit back. During this phase, negotiate terms including who bears the transfer tax (typically 1.8%), which varies by province. Ideally, this tax is split equally between buyer and seller, but some sellers attempt to shift the full burden to the buyer.
Step 2: Purchase Agreement (Boleto) – 1-2 weeks
Once the seller accepts your offer, you typically sign a “boleto” (private purchase contract) with a down payment of 20-30% of the purchase price. In some cases, particularly in competitive markets, you may skip the boleto and proceed directly to the escritura (final deed). If you sign a boleto, ensure a date is set for the final escritura signing.
Step 3: Title Verification and Due Diligence – 1-2 weeks
Your escribano (notary public) conducts critical verification work: searching the Central Property Registry for liens, encumbrances, or mortgages, checking for unpaid taxes, verifying property boundaries, and ensuring all documentation is complete and legally binding. This is when you should also hire a property inspector to assess physical condition, structural integrity, mechanical systems (HVAC, plumbing, electrical), and maintenance status. If you’re purchasing a currently occupied property, verify it will be completely vacated and not stripped of included items (fixtures, heating units, etc.) before the escritura signing.
Step 4: Final Title Transfer (Escritura) – 1-2 weeks
At the notary’s office, you and the seller sign the official deed (escritura). After signing, the property is registered with the real estate registry, which typically takes 40-60 days. During this period, the property is “blocked” in the registry to prevent parallel transactions. Once registered, you own the property outright.
Financial Considerations and Costs
Total Transaction Costs
Budget for closing costs ranging from 6.8% to 7.3% of the purchase price, with some sources citing up to 16% when all costs are included (though this is on the high end). Costs break down as follows:
- Property Transfer Tax: 1.8% (paid by buyer and seller equally, though seller may negotiate to pass more to buyer)
- Legal Fees: 2% plus 21% VAT
- Notary (Escribano) Fees: 1-1.5% (negotiable, vary by notary)
- Real Estate Agent Fee: 2-4% (typically paid by seller, but may affect pricing)
- Property Valuation Fee: $200-500 USD
- VAT (IVA) on New Properties: 21% on new construction from developers (already included in purchase price, not added)
Financing Options
Cash Purchases Dominate, But Mortgages Are Emerging
Historically, Argentina’s volatile currency and high inflation made mortgages rare and unattractive. However, conditions are improving. Mortgage rates have dropped from 130.6% in December 2023 to around 29% by September 2024, with some banks offering rates between 3.5% and 8.5% plus inflation adjustments. Banks requiring longer terms include BBVA Argentina, Banco Galicia, and Santander Argentina, along with public banks like Banco Nación and provincial options.
Foreigner Mortgage Challenges
Most Argentine banks rarely lend to non-residents, and when they do, terms are restrictive. Requirements typically include proof of local employment, substantial local assets, or permanent residency status. Many foreign buyers either bring cash, secure international financing from their home countries, or use home country assets as collateral.
Market Conditions and Pricing
Current Price Levels
As of mid-2025, Buenos Aires residential properties average USD 2,200-2,500 per square meter citywide, representing recovery from the 2023 market bottom but still approximately 20-25% below 2019 peak levels in USD terms—creating a favorable buyer’s environment.
Neighborhood Price Ranges (Mid-2025)
| Neighborhood | Price Range (USD/m²) | Expected Growth | Key Characteristics |
|---|---|---|---|
| Puerto Madero | $5,000-6,500 | 5-7% | Luxury, waterfront |
| Palermo/Recoleta | $3,500-4,300 | 8-12% | Cultural hub, expat favorite |
| Belgrano | $3,200-3,800 | 7-10% | Family-friendly |
| Villa Urquiza | $2,600-3,300 | 10-15% | Gentrification emerging |
| Villa Crespo | $2,400-3,000 | 8-12% | Rising popularity, good value |
| San Telmo | $2,100-2,800 | 6-9% | Tourism, bohemian culture |
| Villa Lugano | $1,500-1,800 | 5-8% | Affordable, improving transit |
Premium neighborhoods like Palermo and Recoleta are expected to see 8-12% annual appreciation through 2025-2026, while emerging neighborhoods offer better value opportunities with potential upside from gentrification.
Market Dynamics
Negotiation discounts have narrowed to 4-5% from historical highs, suggesting the market is stabilizing and prices are recovering. Real estate transactions in Buenos Aires jumped 32.2% year-over-year in April 2024, indicating returning buyer confidence. However, construction activity remains subdued, with a significant supply overhang—the total stock in Buenos Aires exceeds 163,000 units with only 1.57% selling, requiring 6 years to absorb at current demand levels (historically 2 years).
Tax Implications for Owners and Investors
Rental Income Taxes
Foreign nationals residing less than six months annually are taxed only on Argentine-sourced income and don’t receive standard income tax deductions. Rental income is subject to progressive tax rates ranging from 15% to 35% depending on income level. Additionally, the Gross Income Tax (Impuesto sobre los Ingresos Brutos) averages 4% in Buenos Aires and applies across provinces.
Capital Gains Tax
Property sales are subject to a flat 15% capital gains tax. However, an exemption may apply if the property later becomes your primary residence (homesteaded).
Rental Yields
Gross rental yields in Buenos Aires average 4.88% with a range of 3.4% to 6.38%, though this varies significantly by neighborhood. Real rents have fallen approximately 40% after inflation adjustments due to President Milei’s deregulation of the rental market in 2023. Short-term rental properties in tourist-friendly areas generate 7-10% gross yields compared to 3-5% for traditional rentals.
Residency and Visa Connections
Property Purchase Does Not Provide Residency
Importantly, buying property does NOT automatically grant residency or visa status. You can purchase property in Argentina with just a tourist visa and without any residency requirement. The property purchase may demonstrate financial stability when applying for investment or retirement visas, but this connection is indirect rather than automatic.
Investment Visa Alternative
If your goal includes residency, Argentina’s investment visa program is separate. It requires a minimum investment of ARS 1,500,000 (approximately $1,300-6,000 USD depending on exchange rates) in productive, commercial, or service activities—not property ownership alone. Investment visa holders must spend at least 183 days annually in Argentina and personally manage their business to maintain status. After two years of continuous legal residence without international travel, you may apply for citizenship through naturalization. Alternatively, the new direct citizenship route launched in May 2025 requires USD 500,000 investment in government-approved projects, allowing citizenship process initiation even while living abroad.
Critical Due Diligence Steps
Legal Verification
Your escribano will verify clear title through the Central Property Registry, confirming no liens, encumbrances, or mortgages exist. They also verify property boundaries, check for unpaid taxes, and ensure all documentation is legally binding. Request a “certificado de dominio” (ownership certificate) and “certificado de inhibiciones” (legal claims search).
Physical Inspection
Conduct thorough inspections of property condition, including structural integrity, roof, HVAC, plumbing, electrical systems, and general maintenance status. If purchasing an occupied property, verify it will be completely vacated and nothing will be stripped from the property before escritura signing—sellers sometimes attempt to remove fixtures when dealing with foreign buyers.
Neighborhood Assessment
Visit multiple times at different times of day and different seasons to assess noise levels, neighborhood amenities, security, and local infrastructure. One or two visits provide limited understanding of local conditions and seasonal variations.
Address Future Liquidity
Given Argentina’s volatile regulatory environment, consider exit strategy before purchasing. Currency controls have changed dramatically in recent years, and regulations governing capital flows can shift rapidly. Ensure you understand current rules for converting property sales proceeds to foreign currency and transferring money internationally.
Key Advantages for Foreign Buyers
Argentina offers several compelling advantages: property prices remain 20-25% below 2019 peaks despite recovery, creating opportunity; foreigners face minimal restrictions compared to many countries; the purchase process is straightforward and can be completed entirely remotely with power of attorney; strong legal protections for property rights are constitutionally guaranteed; and transaction costs are transparent and well-established at 6.8%-7.3% of purchase price.
Key Risks and Challenges
Regulatory Uncertainty
Argentina’s greatest risk is that rules of the game can change without warning. Currency controls have been repeatedly modified, and future regulations might restrict your ability to sell property or transfer proceeds internationally. Stay informed through a local attorney about regulatory developments.
Inflation and Currency Volatility
Argentina’s volatile peso and periodic currency crises affect property values in local currency terms, though prices in USD remain more stable. Real rental income has declined substantially after inflation adjustments despite nominal price stability.
Mortgage Market Limitations
Mortgages for foreigners remain difficult to obtain, with interest rates still substantially higher than developed markets and requiring stringent local presence or employment requirements. Most foreign buyers must bring cash or secure international financing.
Supply Overhang
A significant excess of properties on the market means buyers have strong negotiating positions but also suggests a slower appreciation environment without demand surge.
Recommended Action Steps
- Hire a Local Attorney: Work with an experienced lawyer specializing in foreign property purchases to navigate legal requirements and tax implications.
- Obtain CDI Early: Get your CDI tax identification number before seriously searching for properties—this typically requires 1-2 weeks.
- Secure Dollar Funding: Determine how you’ll transfer dollars into Argentina (Banco Piano, international banking, etc.) and confirm current currency regulations with your attorney.
- Visit Multiple Times: Spend adequate time in neighborhoods and view properties multiple times at different times of day before committing.
- Conduct Thorough Due Diligence: Budget time for property inspections, title verification, and neighborhood assessment—don’t rush this phase.
- Negotiate Transparently: Clarify who bears each cost, especially the transfer tax, and specify what fixtures remain in writing during the boleto phase.
- Verify Occupancy Status: Before the escritura signing, confirm the property has been vacated and nothing included in the sale has been removed.
- Maintain Compliance Documentation: Keep detailed records of fund provenance and maintain documentation of all transaction steps for future sale compliance.
Argentina remains one of the most accessible international property markets for foreign buyers, with straightforward legal processes and attractive pricing. However, success requires careful due diligence, understanding Argentina’s unique regulatory environment, and working with experienced local professionals throughout the transaction.