/24-7PressRelease/ - NOTTINGHAM, UK, January 31, 2008 - Luckily for David Stanley Redfern investors that is exactly where our Argentinean properties are, downtown Buenos Aires, Palermo Viejo to be exact.
Palermo Viejo has picked up the name Palermo Hollywood because of the amount of film and T.V studios setting up shop in the area, after the economic boom began in 2001 when the area began to rival Madrid and Toronto as a low-cost location for films and T.V programs. Of course this triggered a whole new popularity for the area, which is now one of the most chique and hip areas in Buenos Aires (that is saying something), even El Taller, a fixture in Palermo Viejo, has been transformed into a small art house, tango dance venue and art gallery.
Our property there is the Lista Live Hotel, containing 1-3 bedroom apartments starting from 96,348. The complex has a cosy central square, a swimming pool, aerobic room, gym, sauna, business centre with wi-fi, a bar and a restaurant, room service including cleaning and laundry services, interior gardens and underground parking with valets, all under the protection of 24-hour security. Capital appreciation is conservatively estimated at 15%, and rental yields, again conservatively estimated at 10%. The latter I would suggest as more realistic for the three bedroom apartments, where as the one bedroom apartments could fetch a much higher yield.
Argentina can even attract foreign investors with its taxation, there are no inheritance or gift taxes in Argentina, and capital gains by non-residents, for instance a foreign investor selling his property, are not considered as income and so not taxed under Argentinean law. Company capital gains are liable to 35% corporate income tax.
Total transaction costs are low in Argentina 6-8.35% to be exact. Mid-high end property transactions are done in U.S. dollars and in cash, which can cause problems because conversion is costly in Argentina, and 1-2% can be paid in conversion costs. David Stanley Redfern offer the cheapest currency conversions, so U.K. investors are in a favourable position when it comes to an Argentinean property investment.
Any investor attracted to Argentina property should call David Stanley Redfern today for a free no-obligation chat, because -- as with any overseas property investment -- the earliest investors pay the lowest prices.
Find out more about Argentinean investment property at: http://www.davidstanleyredfern.com/investment-property/argentina/
About David Stanley Redfern
David Stanley Redfern Ltd is one of the U.K.'s leading overseas property investment specialists. The reasons for this are an incomparable range of international properties spanning 40 destinations worldwide, and unrivalled customer care, which lasts long after the purchase has been completed. Experienced, professional staff and membership to the overseas property market's regulatory body: the Association for International Property Professionals, as well as their stringent due diligence procedures gives buyers the confidence that any purchase with David Stanley Redfern is a safe one.
Media enquiries should be directed to Liam Bailey: media@davidstanleyredfern.com
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