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Tuesday, February 13, 2007
Special Reports
Real Estate: Argentina Growth Continues
Despite a slowdown in the economy, Argentina's real estate market is growing strongly spurred by commercial and residential demand.
BUENOS AIRES BOOM: The residential market in Buenos Aires (top) has been gropwing strongly, but it's the commercial sector (bottom) that is expected to see the strongest growth this year. (Photos: Colliers International).
BY CHRONICLE STAFF
Argentina's economy is expected to see slower growth this year than last year - 6.0 percent versus 8.0 percent, according to the International Monetary Fund. But that isn't stopping the real estate market from setting new records.
"In general terms our real estate market will continue to grow and exceed 2006," says Pablo Manes, corporate business manager for U.S.-based real estate broker Colliers International in Buenos Aires, which represents clients like Cisco System, Oracle and HSBC. "All the commercial and residential categories are growing."
In October, Argentina is scheduled to hold presidential elections...
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