Should you sell property in South America? The real estate situation in South America varies widely from one nation to another, so it’s hard to answer the question without going into a detailed discussion on each country. It is clear that some countries in the region are more popular with foreign investors looking for a second home or vacation home than others. So let’s draw a comparison between the various nations in the region and see how they fare.
We are big fans of Argentina because it is one of the most beautiful countries in the world. It is also a favourite with lifestyle buyers - people who buy properties in foreign countries attracted by the relaxed and easygoing lifestyle, which is so different from back home in the US, Germany or the UK. Those who bought properties in Argentina in 2001-02 will have made a killing on the purchase right now, because Argentine properties were dirt cheap back then. Today, the potential for profit is limited to a great extent. If your house for sale in Argentina is in Buenos Aires or in the region of Bariloche, attracting buyers should not pose a problem.
Brazil is the biggest and most powerful country in South America, but the Brazilian economy is in the middle of a recession of late. Interestingly, incomes in Brazil have risen dramatically, in spite of the recession, and property prices are high as well. So as a seller you are in a sweet spot in Brazil. The only issue is that there are far too many regulations and restrictions on foreign ownership of property in Brazil, so selling your Brazilian property may take a lot of time.
Colombia has always been identified with the War on Drugs, because the country has been for long the world centre of drug trade. But that has changed recently, as the drug mafia has been vanquished, more or less. This has made people more enthusiastic about buying property here, as Colombia is one of the most beautiful countries kin the world with picture perfect climate. If you have a beachfront property in Colombia in the regions of Cartagena and Santa Marta, you should be able to get a buyer in no time at all. Other great places to own a property in Colombia are Bogota and Medellin.
Chile is one of our favourite countries in South America. It is hugely popular with the international community because of its open and transparent culture. Chile is also one of the most prosperous countries in the region. There are posh neighbourhoods in Santiago, the capital of Chile, where properties are almost expensive as anywhere in London or New York. Chile has a very stable economy, so buying a property here has virtually zero risk and unlimited upside potential. For this reason, if you have an apartment for sale in Chile, you should be able to get a top price for it in no time at all.
Ecuador, Uruguay and Nicaragua
We have grouped Ecuador, Nicaragua and Uruguay together because they are very similar to each other and are great places to buy a retirement home. That’s because the cost of living in these countries is ridiculously low and properties are very, very cheap. If you have a house for sale on the Rocha coast in Uruguay, you should be able to get a good price for it as that part of the country is a favourite with tourists. Any mountainside home in Ecuador is a decent investment and if have one, you shouldn’t find it hard to get a buyer for it. But your best chances are with selling to foreign investors, as the local populations in these countries are not too enthusiastic about buying properties here.