'Make a small fortune in Argentina'
'Make a small fortune in Argentina'
Argentina could offer property investors "the chance to make a small fortune", it has been claimed.Liam Bailey, head of international research for property firm David Stanley Redfern, explained that as Argentina is increasingly popular with tourists, anyone with a holiday home to rent out in the country should see their profits increase.
He said: "Living costs are far lower in Argentina than in
Spain which means tourists can have a far cheaper holiday. Rental yields are already around the ten per cent mark, and capital appreciation is conservatively estimated at 15 per cent."
Mr Bailey added that while there are no restrictions on foreigners buying property in Argentina, investors will need to register for tax.
The country has no capital gains, inheritance or gift tax and rental tax is 21 per cent of gross annual income, he concluded.
Among the attractions on offer in the South American country are skiing, fishing and eco-tourism relating to the nation's rainforests.
This article was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.
25 March 2008
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