01.11.2012 - Argentina real estate sales dramatically fall, yet prices continue to rise
Jorge Luis Borges, one of Argentina's most famous writers, memorably said that "reality is not always probable, or likely." For an interesting example of how improbable the reality of real estate markets can be, one needs look no further than Palermo Nuevo, a small residential area in Buenos Aires. One of the victims of the Kirchner Administration's continuing policy measures directed at the US Dollar has certainly not been the US Dollar, which has continued to gain ground against the Peso and is likely to continue down the road of appreciation in 2013. The same cannot be said, however, for Argentina's largely US Dollar-based real estate market, which has witnessed a dramatic falloff in transaction volumes...............................................Full Article: Source
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