With all this talk of home prices rising, you might start to wonder: How much longer will buying be affordable? The luxury market is going a little crazy these days, what with $125 million penthouses and all. So where does one go for a good deal these days? Argentina -- Buenos Aires, to be more precise.
There, The Wall Street Journal reports, the economy is in a bit of turmoil. (Like there's a place where it's not?) Inflation in Buenos Aires is skyrocketing, and the U.S. dollar is in high demand because of the exchange rate. And for people who have U.S. dollars to spend, prime real estate can be yours for a song.
Take, for example, a 500-square-foot, one-bedroom apartment in trendy downtown Buenos Aires with a 100-square-foot terrace. It's in a building with a rooftop pool, gym, sauna and concierge. The going rate: $130,000. A place with all those amenities in the middle of NYC would likely cost 10 times as much. Oh, there's plenty more eye-popping deals to get a load of in the video above.
More on foreign real estate:
Smart Overseas Real Estate Investments
German Castles at Bargain Prices
Renting Abroad: Easier Than Here?
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