H o u s i n gApartments (average rent per month)1-bedroom: US$900 – $1,8002-bedroom: US$1,500 – $3,8003-bedroom: US$1,800 – $4,500

Houses (average rent per month)3-bedroom: US$2,800 – $6,0004-bedroom: US$3,200 – $9,0005-bedroom: US$3,500 – $9,300

P ro p e r t y M a r k e tCommon expatriate areas in Buenos Aires:

P a l e r m o & R e c o l e t aPrice range from US$1,500 – US$8,000• High status and luxury• Most houses are not in gated communities or have additional

security• Limited amount of houses, easier to find apartments

P u e r t o M a d e roPrice Range US$2,700 to US$8,500• Newer areas• Condominiums with security• Apartments with amenities, difficult to find apartments with

more than three bedrooms• No houses at all

S a n I s i d ro & O l i v o s – M a r t i n e zPrice Range US$4,500 to US$9,000• Houses in non-gated communities near American school

N o rd e l t a , S a n I s i d ro C h i c o & B o a t i n gPrices range US$3,500 to US$9,000• Houses in gated communities

S t a n d a rd L e a s e Te r m s• Two year Forzoso - diplomatic clause not accepted in the first

two years, penalties 1.5 month before 1 year & 1 month in second year.

• Deposit – all leases require a security deposit, sometimes two months’ rent

• Contract in dollars acceptable although landlords will not accept payments from abroad

• Maintenance fee may sometimes be paid by tenant• Assignee signs the lease, company acts as guarantor - if the

company does not act as guarantor some landlords may require up to 6 months payment up front

• If lease is in company’s name and a receipt for monthly rent payment is required, a 35 – 40% tax needs to be added to the rent

• Commission paid by tenant & landlord – 50% each of 5% of total agreement + 21% VAT

• Leases must be registered – the Stamp Tax cost 0.5% of the lease and it has to be paid in cash

S c h o o l s • Admissions are always restricted by space• National or government institutions are not recommended, only

private• Admissions exams are required in all schools• International schools available only in main cities• Most international schools accept registrations in mid year• Southern hemisphere calendar is followed

Recommended bilingual schools* – US$1,200 - $1,500 per month• Lincoln School (American) US$5,900 – US$18,600 annual +

annual registration (matricula) of US$1,530 – US$1,860 + capital assessment of US$6,000

• St. Andrew’s Scots School (English)• Liceo Franco Argentino Jean Mermoz (French)• Goethe Schule (German)* Most schools will provide an invoice only in the name of the

employee, not the company, or just a receipt after the tuition has been paid.

M A R K E T W A T C HInformation from Cartus on Relocation and International Assignment Trends and Practices.

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Argentines are proud, educated and sophisticated and they identify very strongly with European traditions. Many Argentines believe Buenos Aires to be the cultural counterpart of Paris. They are proud of the size and beauty of their country and like visitors to appreciate it.

G L O B A L F A S T F A C T S : B U E N O S A I R E S , A R G E N T I N A

O f S p e c i a l I n t e re s tFurniture Rental• Available only in Buenos Aires• Minimum period to rent is one month• Local company SAAI - CORT provider

Domestic service• Available in all cities• No references available• Only by personal recommendation or through Agencies

Banking• In order to open a bank account you must have the local ID

(DNI) which is currently taking 6 – 12 month to process

Departure Challenges• Tenant must return property in the same condition received at

the beginning of the lease• Normal wear and tear is not always accepted by landlords• Repairs are sometimes delayed because of the lack of

commitment from providers (painters, electricians, etc.)• In case of early terminativos, 60 days notice to the landlord is

required under a special legal letter, otherwise additional rent payments apply

• Security deposit should be returned from the landlord within the following 60 days

• Final utility bills may take up to 2 - 3 months• Most providers will not accept payments from abroad

Visa/Permit Issues• Every foreign citizen working either in a Argentine company or

in the representative office (branch) of a foreign company has to obtain a work permit and a work visa of minimum one year.

• Spouse/partners require a Work Permit in their own right, i.e. cannot work on main applicant’s permit.

Driving• Once a visa is obtained, a local driver’s license is required; the

process can start once having DNI• Cars can be imported into Argentina only temporarily free of

import taxes, but the vehicle cannot remain in Argentina after the owner leaves

Source: LARM Argentina, Buenos Aires, Argentina,www.larmgroup.com

C u l t u r a l I n f o r m a t i o n o n A rg e n t i n aArgentines are proud, educated and sophisticated and they identify very strongly with European traditions. Many Argentines believe Buenos Aires to be the cultural counterpart of Paris. They are proud of the size and beauty of their country and like visitors to appreciate it. History and traditions are highly valued.

The most honored group in Argentine culture is the extended family from which the individual gains his or her self-identity. The family’s status power and welfare comes first. Protecting one’s honor is of critical importance.

Here are some key tips to remember when interacting with Argentines:1. Take time to establish relationships and mutual trust. Be

patient, it might take several trips to complete a deal. Approach business meetings and negotiations as a partner. If you change the representative of your company, be prepared to start relationship building again.

2. Remember that at first, greetings might be quite formal - handshake and nod of the head. When a relationship has been built, hugs, slaps on the back, and kisses can be expected.

3. Be prepared to present a serious, intelligent, articulate argument combined with a friendly approach.

4. Make appointments through a third party - an enchufado - who has contacts within an industry. Prior appointments are necessary.

5. Take time for small talk and business entertaining. Argentines are tough negotiators who do not make concessions quickly or easily. Good relations will shorten negotiations.

Information from www.countrynavigator.com powered by TMAWorld

M A R K E T W A T C HInformation from Cartus on Relocation and International Assignment Trends and Practices.

A P R I L 2 0 1 1

P A G E 2 O F 2C A R T U S | G L O B A L F A S T F A C T S : B U E N O S A I R E S , A R G E N T I N A / A P R I L 2 0 1 1 |

G L O B A L F A S T F A C T S : B U E N O S A I R E S , A R G E N T I N A

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