All sources have been thoroughly verified for credibility. Furthermore, a local real estate expert has reviewed and approved the final article.
Yes, the analysis of Bariloche's property market is included in our pack
Considering buying real estate in Bariloche? You're not alone!
Many people dream of owning a picturesque cabin or a cozy mountain chalet in Bariloche, enchanted by its stunning natural beauty.
Is it financially viable, though? Are property prices increasing in Bariloche? How much does it cost? Is it better to invest in the city center or outskirts? Are there any secret taxes? Can I get a very good rental yield? Where?
We've solved it for you.
At TheLatinvestor, we've done our homework on this market. As a matter of fact, we've gathered all our findings in a pack. Get it now.
In the lines below, we'll share useful information and some practical tips.
How's the real estate market in Bariloche?
Is the property market on an upward trend or a downward trend? Let's examine the data.
Property types
In Bariloche, you can find various types of properties for sale, catering to different preferences and budgets.
These include charming mountain cabins nestled in the picturesque landscape, cozy lakeside cottages with stunning views, modern apartments in the heart of the city, spacious family homes in residential neighborhoods, and even plots of land for those looking to build their dream property.
Whether you're seeking a tranquil retreat, a vibrant urban setting, or a chance to create your own space, Bariloche offers a diverse range of properties to choose from.
Better to buy or rent?
(If you're buying for yourself and not to rent out)
If Bariloche, the picturesque city in Argentina, has caught your interest as a place to settle, you might be considering whether it's better to buy or rent a property in this Patagonian gem.
Generally, buying is a better choice than renting in Bariloche due to the city's growing popularity and attractive rental yields.
On the flip side, renting offers greater flexibility if that's what you prefer.
Property prices in Bariloche
On average, according to the updated data from Instituto Nacional de Estadística y Censos (INDEC), buying a property in Bariloche would cost you around $3,800 per square meter.
Naturally, prices are quite spread out. A cabin in the outskirts of Bariloche may have a different price per square meter than a lakefront property. We actually give you a more detailed breakdown in our pack for buying property in Bariloche and in Argentina.
To give you some context, it means that, instead of buying an apartment in New York, you can become the owner of 4 properties in Bariloche.
However, housing prices in Bariloche are higher (53%) than in Buenos Aires.
The most expensive places in Bariloche are probably Cerro Otto, Cerro Catedral, and Cerro Bayo, while the cheapest areas are likely to be farther away from the city center.
Trends
First and foremost, we have to acknowledge that Argentina is widely recognized, today, as a stable country. The last Fragile State Index that has been reported for this place is 47.9.
It is something to have in mind when wondering whether it's a good investment to buy a property in Bariloche.
However, this low number is just for the short-term, as Argentina's economy is expected to soar by 7.4% in the coming 5 years, resulting in an average GDP growth rate of 1.5%.
If you want to invest in real estate in Bariloche it's a good thing because, in a growing economy, citizens experience rising incomes that allow them to invest in real estate, either for personal use or as a profitable asset, contributing to the increased demand for properties.
Also, in Argentina, the average GDP per capita has changed by -1.3% over the last 5 years. It's not a good number.
Looking for more updated data? We've done a big-picture study to find out if it's a good idea to purchase property in Argentina right now.
Buying property in Bariloche
It is difficult to buy property in Bariloche due to a lack of reliable and updated information, making it difficult to make informed decisions. That's why we have created the pack to buy property in Bariloche and in Argentina.
Buying process
Within our pack, we have outlined the complete buying process. This includes the necessary documents, the applicable taxes, as well as information about where to locate properties, and more.
Here, we are providing you with a simpler version to assist you in better comprehending the information.
This is the step-by-step process to purchase a property in Bariloche:
- Research the Bariloche real estate market.
- Engage a qualified local real estate agent familiar with the area.
- Find a suitable property and negotiate the price.
- Obtain a CUIL (Clave Única de Identificación Laboral) or CUIT (Clave Única de Identificación Tributaria) number from AFIP (Federal Administration of Public Revenue).
- Open a local bank account in Argentina.
- Secure a tax identification number (CDI) from AFIP.
- Sign a preliminary contract (boleta de reserva) with the seller and pay a deposit.
- Perform a title search and due diligence to verify property ownership and debts.
- Sign the final sales contract (boleta de compraventa) with a notary public.
- Pay the necessary taxes, including the transfer tax (Impuesto a la Transferencia de Inmuebles, or ITI).
- Register the property with the Property Registry Office (Registro de la Propiedad Inmueble).
- Complete the transfer, and once the transaction is registered, take possession of the property in Bariloche.
Also, if you're not from the country, you might want to check our article on how to buy property as a foreigner in Argentina.
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Where to find a property
Find your ideal properties in Bariloche with the help of these websites:
- Ricardo Sacco - Specialized in property sales and rentals in Trenque Lauquen.
- Vision - A real estate platform for searching properties for sale or rent in the General Pico area, La Pampa, Argentina.
- Ginestet - A real estate agency located in General Pico, La Pampa, Argentina.
- Realigro - Specializing in property listings for sale across Argentina.
- Property Finder - A platform dedicated to helping users find properties for sale and rent throughout Argentina.
Also, know that we have included contacts of real estate agencies, property lawyers, moving companies, expats communities and more in our pack for buying property in Argentina.
Which properties for which budget?
As mentioned before, the average price per sqm in Bariloche is $3,800. A 1-bedroom property with 60 square meters would cost approximately $228,000, and a 2-bedroom property with 85 square meters would cost approximately $323,000.
However, as you can guess, property prices will differ based on the attributes of the property and its specific location.
Investing in real estate in Bariloche's prime locations often comes with a heftier cost. For about $440,000, you could consider a condominium in Peninsula San Pedro, but a house in Playa Bonita might be priced at $670,000.
Still, some spots are more wallet-friendly. You may find a residence in El Frutillar for $380,000, or you could locate one in Melipal priced at only $240,000.
Find a more detailed price list in our full pack for buying property in Argentina.
Mistakes to avoid
Here are the main pitfalls when buying property in Bariloche, Argentina:
- Unclear land boundaries in rural areas due to informal land use practices.
- Potential land claims from indigenous communities.
- Complex property inheritance laws, leading to ownership disputes.
- Currency controls affecting the ability to repatriate funds.
- Patagonian weather challenges, such as harsh winters and property damage risks.
- Differences in construction quality and standards from what buyers might be used to.
- Limited access to essential services like water and electricity in remote locations.
- Potential difficulties in obtaining residency or citizenship for foreign buyers, impacting property rights.
We don't want this to happen to you, so we have included a full checklist for your property investment in our pack of documents. Avoid these mistakes and save a lot of money.
Everything you need to know is included in our Argentina Property Pack
Living in Bariloche
Living in Bariloche is a great experience, with its stunning scenery, outdoor activities, and vibrant culture, it's an ideal place to buy a property.
Cost of living
The cost of living in Bariloche is relatively high compared to other cities in Argentina. Prices for basic necessities such as food, housing, and transportation are generally higher than in other cities in the country.
Here are some examples to better understand the cost of living in Bariloche, Argentina:
- Rent for a one-bedroom apartment in the picturesque neighborhood of "Cerro Catedral": $700 per month.
- A meal at a local restaurant with "Trucha," a regional Patagonian fish delicacy: $20.
- Monthly bus pass for city transportation in "Cerro Otto" area: $35.
- Utilities (electricity, water) for a small apartment in "Melipal" district: $60 per month.
- A cup of "Chocolaterapia," a specialty hot chocolate infused with essential oils: $6.
- Entrance fee to "Circuito Chico," a scenic road loop with stunning lake views: $8.
- Monthly membership at a gym in "San Carlos de Bariloche" city center: $45.
- A bottle of local "Bariloche Beer," crafted by Cerveceria Patagonia: $4.
Areas and spots
We want to show information in an easy-to-understand way. So, we made a summary table that shows the different parts of Bariloche. For yields, prices and rents, check our property pack.
| Place | Description | Strengths | Weaknesses |
|---|---|---|---|
Civic Center | The Civic Center is a bustling area in Bariloche, attracting both locals and tourists. It offers numerous commercial and residential property investment opportunities, especially due to its central location. | High foot traffic, good rental potential, and diverse property options. | Property prices may be higher due to high demand, limited space for new development. |
Nahuel Huapi Lake | Properties with stunning lake views are in high demand among tourists and vacation home seekers, making it a lucrative investment choice. The natural beauty and recreational activities around the lake make it an attractive location for buyers. | High rental income during peak tourist seasons, strong appreciation potential. | Limited availability of lakefront properties, vulnerability to environmental factors. |
Bariloche Ski Resort | The ski resort area presents excellent investment opportunities for vacation rentals and chalets. Its popularity among skiers and adventure seekers ensures a steady flow of potential tenants. | Consistent demand during the ski season, potential for year-round tourism. | Property values might be inflated during peak seasons, reliance on seasonal tourism. |
Colonia Suiza | Colonia Suiza offers a tranquil escape from the bustling city, making it an attractive location for eco-tourism and vacation homes. The picturesque landscapes and cultural heritage add to its charm. | Appealing to nature lovers and those seeking a peaceful retreat, potential for eco-friendly property development. | Distance from the city center may limit rental demand, limited commercial amenities. |
Llao Llao | Llao Llao is an upscale area known for its luxury hotels and golf courses, making it an attractive location for high-end residential properties and boutique hotels. | Exclusive and prestigious neighborhood, stunning natural surroundings. | High property prices, limited available land for new development. |
Villa Catedral | Villa Catedral is a popular spot for winter sports enthusiasts, making it an ideal location for chalets, lodges, and vacation rentals catered to ski and snowboard tourists. | Proximity to the ski resort, strong rental demand during ski season. | Seasonal demand, limited property appreciation outside of peak seasons. |
Playa Bonita | Located along the shores of Lake Nahuel Huapi, Playa Bonita offers beautiful lake views and recreational activities, attracting tourists and vacation home seekers. | Scenic views, popular tourist destination. | High demand leading to potential property price inflation, limited available land. |
Barrio Melipal | Barrio Melipal is a residential area with a mix of permanent residents and vacation homeowners. Its peaceful atmosphere and proximity to the lake make it an appealing location for property investment. | Tranquil neighborhood, potential for vacation rentals. | Less touristy compared to other areas, limited commercial development. |
Life in Bariloche
Bariloche is a popular tourist destination in Argentina and the local economy is driven by tourism. The city also has a strong industrial sector, with several factories and businesses in the area.
What expats usually like the most in Bariloche are the stunning landscapes, with snow-capped mountains, crystal-clear lakes and lush forests, as well as the many outdoor activities like skiing, hiking and cycling.
Bariloche has good access to healthcare with a variety of public and private hospitals and clinics.
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Renting out in Bariloche
This section is for you if your goal is to buy a property and rent it out to generate income.
Long-term
According to the data reported by Wikipedia, the home ownership rate in Argentina is 69%, which is average.
When people buy in Bariloche it's usually to live there, and not to rent out.
If you decide to rent out long-term, you might want to target people who are looking for a relaxed lifestyle and are interested in outdoor activities like skiing, hiking, and fishing. Additionally, people who are looking for a second home or a retirement destination in a picturesque setting may be interested in renting long-term in Bariloche.
Here is a little summary table we've made for you.
| Property type and area | Profiles of potential tenants | What they are looking for | Expected monthly rent in $ |
|---|---|---|---|
Apartment in Centro | Students, young professionals | City center, proximity to amenities | $400 - $800 |
Cabin in Llao Llao | Tourists, nature enthusiasts | Lake views, outdoor activities | $800 - $1500 |
Studio in Playa Bonita | Couples, artists | Beachfront location, tranquility | $500 - $1000 |
Condo in Villa Catedral | Ski enthusiasts, vacationers | Proximity to ski resort, mountain views | $600 - $1200 |
Now, you will probably ask us about the yields. Unlike other places, giving you an average rental yield for Bariloche is though. The region is quite varied. For example, rental yields in San Carlos de Bariloche are quite different from those in less popular areas.
Finally, know that, in Argentina, the taxes will be around 21% of the total rental income.
Short-term
You could also decide to rent short-term to skiers looking for a convenient base for exploring the nearby ski resorts, or to visitors looking to experience the city's renowned outdoor activities like hiking and fishing.
If you decide to go with that option, look for properties in Barrio Centro, near the main square, and in Cerro Otto, near the ski resort.
Currently, there are approximately 2,210 active Airbnb listings in Bariloche, reflecting a highly dynamic and bustling short-term rental market. The average daily rate stands around $45.
You have the opportunity to generate a nice additional income stream then. Based on feedback from online testimonials and data analytics platforms such as AirDNA, Guesty, and Inside Airbnb, people who offer short-term rentals in Bariloche can make around $600 per month. Also, the average occupancy rate is estimated at 62%.
Is it worth buying real estate in Bariloche then?
Buying a property in Bariloche can be a fantastic idea if you're looking for a picturesque, natural paradise to make your home or earn rental income. The city's beauty and outdoor activities are undeniable draws, and the prospect of long-term growth in Argentina's economy adds to the appeal.
Plus, with various property types available, you can find something that fits your taste and budget. If you're passionate about Bariloche's charm and plan to live there or profit from its booming tourism industry, buying property makes sense.
However, it's not all sunshine and rainbows. The lack of transparent property information, the potential for property-related challenges like land disputes, and foreign ownership restrictions can be major roadblocks. If you're seeking quick returns or find these uncertainties off-putting, Bariloche might not be your best bet.
Additionally, some remote areas may lack essential services, and property prices can vary widely, making it crucial to do your homework and consult with local experts.
In the end, while Bariloche offers a world of natural beauty and investment potential, it's vital to weigh the pros and cons carefully to determine if buying property there aligns with your goals and risk tolerance.
Make sure you understand the real estate market in Bariloche
Don't rush into buying the wrong property in Argentina. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.
The content provided here is for informational purposes only and does not imply endorsement or advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information, including text, images, links, or other elements in this material. Following the content and analyses presented here does not assure specific outcomes. For guidance tailored to your individual circumstances, it is recommended to consult with a professional, such as a lawyer, accountant, or business advisor.