How to buy land in Patagonia (guide)

Authored by the expert who managed and guided the team behind the Argentina Property Pack

Yes, the analysis of Patagonia's property market is included in our pack

Who is the author of this content?

THELATINVESTOR

A team specialized in real estate investing in Latin American countries (Argentina, Chile, Brazil, Mexico, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Argentina and Chile. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At TheLatinInvestor, we explore the Patagonian real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Bariloche, El Calafate, and Punta Arenas. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

What types of land can foreigners legally buy in Patagonia, and are there any restrictions on protected or border areas?

Foreigners can legally buy most types of private land in Patagonia, but the rules differ dramatically between Argentina and Chile.

In Argentine Patagonia, Law 26.737 restricts foreign ownership of rural land to 15% per province and caps individual holdings at 1,000 hectares in fertile agricultural zones. Border areas within 50 kilometers of international boundaries require special government permits, and land near strategic water sources faces additional scrutiny. Urban land purchases face fewer restrictions, making city plots in Bariloche or El Calafate more accessible to foreign buyers.

Chilean Patagonia imposes no ownership restrictions on foreigners, allowing unlimited purchases of rural, urban, or commercial land. This makes Chile significantly more attractive for large-scale conservation projects or extensive ranch purchases. However, both countries prohibit private acquisition of protected areas like national parks, though privately-owned conservation easements are possible.

As of June 2025, Argentina's restrictions have tightened enforcement, with provincial governments requiring detailed investment plans for large rural purchases. Chile continues its open-door policy, making it the preferred destination for foreign investors seeking substantial Patagonian holdings.

Are there specific regions in Patagonia where foreigners tend to buy land most often, and why?

Foreign buyers concentrate in specific Patagonian regions based on accessibility, investment potential, and legal frameworks.

In Argentine Patagonia, Bariloche and the Nahuel Huapi region attract 40% of foreign land purchases due to established tourism infrastructure and lakefront premium properties. El Calafate draws investors for its proximity to Glacier National Park and tourism growth potential. The Río Negro and Neuquén provinces see significant vineyard investments, while Santa Cruz attracts conservation-focused buyers despite Argentina's ownership restrictions.

Chilean Patagonia sees heavy foreign investment in the Aysén and Magallanes regions, where land prices remain 70-80% lower than Argentine equivalents. The Carretera Austral corridor appeals to eco-tourism developers, while Torres del Paine's surrounding areas attract luxury lodge investments. Chilean Patagonia's unrestricted ownership laws make it ideal for large conservation projects, with several billionaire philanthropists acquiring massive tracts for nature preservation.

Location preferences reflect practical considerations: Argentina offers better developed tourism infrastructure but higher costs and legal complexity, while Chile provides unlimited ownership rights and lower prices but requires more infrastructure development. Most foreign buyers choose based on their primary purpose—tourism investment favors Argentina, while conservation and speculation favor Chile.

Can buying land in Patagonia lead to residency or citizenship in Argentina or Chile, and what are the requirements?

Land ownership alone does not grant residency or citizenship in either Argentina or Chile, but both countries offer investment-based pathways with specific requirements.

Argentina requires temporary residency applicants to demonstrate stable monthly income of at least ARS 30,000 (approximately $100 USD as of June 2025) and provide a clean criminal background check. Land ownership can support residency applications by showing local ties, but investors must still meet income requirements independently. Permanent residency requires three consecutive years of temporary residency, and citizenship becomes available after two years of permanent residency.

Chile offers investor visas for those committing $500,000 USD or more to approved investments, which can include real estate development projects. Temporary residency through investment lasts one year initially, renewable for up to two years. Permanent residency becomes available after two years of continuous temporary residency, with citizenship possible after five years of residency.

Neither country provides direct citizenship through property investment alone. However, substantial land investments can facilitate residency applications when combined with business development plans or conservation commitments. It's something we develop in our Argentina property pack.

What is the full step-by-step process to legally buy land as a foreigner in Patagonia?

The land purchase process follows similar steps in both countries but with different documentation requirements and timelines.

Step	Argentina Process	Chile Process
1. Due Diligence	Verify title, check Rural Land Registry	Verify title, confirm zoning compliance
2. Tax ID Acquisition	Obtain CDI from AFIP	Obtain RUT from SII
3. Legal Representation	Hire local attorney (mandatory)	Hire local attorney (recommended)
4. Preliminary Contract	Sign "boleto de compraventa"	Sign "promesa de compraventa"
5. Deposit Payment	Pay 10-30% deposit	Pay 10-20% deposit
6. Final Contract	Execute "escritura" at notary	Execute "escritura" at notary
7. Registration	File with Registro de la Propiedad	File with Conservador de Bienes Raíces

The process typically takes 60-90 days in Chile and 90-120 days in Argentina. Argentina requires additional approval for rural properties exceeding certain thresholds, which can extend timelines by 30-60 days. Both countries mandate notarized contracts and property registration to complete legal ownership transfer.

What documents and legal registrations are mandatory to complete a land purchase?

Document requirements vary between countries but follow similar patterns for establishing identity, financial capacity, and legal compliance.

Essential documents for both countries include a valid passport, proof of funds showing legitimate income sources, and a clean criminal background check apostilled by your home country. Argentina requires a CDI (tax identification number) from AFIP, while Chile requires a RUT from the Chilean tax service. Both countries mandate a notarized purchase contract and property registration with local authorities.

Argentina-specific requirements include Rural Land Registry certificates for agricultural properties, CUIT business tax numbers for corporate purchases, and special permits for border-area properties. Foreign buyers must also provide proof of address in their home country and may need central bank approval for fund transfers exceeding $50,000 USD.

Chile requires fewer documents but demands detailed source-of-funds documentation for anti-money laundering compliance. Corporate purchases need apostilled incorporation documents and board resolutions authorizing the transaction. Both countries require title insurance or equivalent guarantees, though Chile's system is more streamlined.

Legal registration involves filing the executed deed ("escritura") with the property registry within 30 days of signing. Failure to register properly can void the transaction and create ownership disputes later.

Is it possible to buy land in Patagonia without being physically present in the country, and how would that work?

Remote land purchases are possible in both countries but require different legal frameworks and safeguards.

Chile explicitly permits remote real estate transactions through legally notarized Powers of Attorney, making the process straightforward for foreign buyers. Chilean law recognizes digital signatures and virtual notarization for property transactions, allowing complete deals without physical presence. Virtual property tours, drone inspections, and digital document signing facilitate the entire process remotely.

Argentina requires local legal representation for remote purchases, with the appointed attorney acting under a comprehensive Power of Attorney. The POA must be apostilled in the buyer's home country and translated by an official translator in Argentina. While physical presence isn't mandatory, Argentina's bureaucratic complexity makes remote purchases riskier without experienced local representation.

Both countries recommend hiring independent surveyors and legal consultants for remote transactions to verify property conditions and legal status. Remote buyers should budget additional fees for local representation, virtual inspections, and enhanced due diligence services. Insurance against title defects becomes even more critical for remote purchases.

Digital escrow services and international law firms specializing in Latin American real estate facilitate remote transactions, though costs typically increase by 20-30% compared to in-person purchases.

What are the typical fees, taxes, and additional costs involved in purchasing land in Patagonia as a foreigner?

Transaction costs differ significantly between Argentina and Chile, with Argentina imposing substantially higher fees and taxes.

Argentina's total transaction costs range from 10-11% of purchase price, including 1.5-4% notary fees, 3-4% real estate agent commission plus VAT, and 1.8% buyer registration tax. Additional costs include legal fees (1-2%), surveyor fees (0.5-1%), and potential foreign exchange fees (0.7%). Rural property purchases may require environmental assessments adding $2,000-5,000 USD to costs.

Chile maintains much lower transaction costs at 4-5% total, with notary fees of 0.5-1.5%, agent commissions of 2-3% plus VAT, and registration taxes of 0.1-0.5%. Legal fees typically run 1-1.5% of purchase price, while surveyor costs remain minimal for straightforward transactions.

Both countries impose monthly or annual property taxes based on assessed values, typically 0.5-1.5% annually. Argentina adds provincial stamp duties varying by location, while Chile maintains more consistent nationwide tax structures. Foreign buyers should budget additional costs for translation services, apostille certifications, and international wire transfer fees.

It's something we develop in our Argentina property pack.

Can foreigners pay for land in cash, and what are the rules or limits around that?

Cash payment regulations differ significantly between Argentina and Chile, with Argentina imposing stricter limitations on large cash transactions.

Argentina limits cash payments to approximately $5,000 USD equivalent per transaction, with larger amounts requiring bank transfers or certified checks. The central bank monitors all foreign currency transactions exceeding $10,000 USD, requiring detailed documentation of fund sources. Cash payments above legal limits can void contracts and create legal complications for both buyers and sellers.

Chile imposes no strict cash payment limits but requires comprehensive documentation of fund sources for anti-money laundering compliance. Transactions exceeding $10,000 USD must be reported to financial authorities, but cash payments remain legally permissible. However, practical considerations make bank transfers preferable for large land purchases due to security and documentation requirements.

Both countries prefer electronic transfers for large transactions, offering better legal protection and clearer audit trails. Argentina's strict cash limits effectively force foreign buyers toward bank transfers, while Chile allows more flexibility but encourages electronic payments through regulatory incentives.

Foreign buyers should plan for additional documentation requirements when using cash payments, including proof of legal earning sources and tax compliance in their home countries. Banks in both countries may freeze large cash deposits pending investigation of fund sources.

Is it possible for foreigners to get a mortgage or financing to buy land in Patagonia, and what are the terms and interest rates like?

Mortgage availability for foreign land buyers varies dramatically between countries, with Chile offering significantly better financing options.

Argentina rarely provides mortgages to foreign buyers for land purchases, typically requiring 30-50% down payments when financing is available. Local banks prefer financing residential property over raw land, and interest rates for foreigners range from 25-45% annually due to currency instability and economic uncertainty. Most foreign buyers in Argentina must rely on cash purchases or foreign financing sources.

Chile offers more accessible financing through major banks like Banco de Chile and Santander, providing mortgages to foreign residents with 30% down payments at interest rates of 3-7% annually. Non-resident foreigners face higher requirements but can still access financing with 40-50% down payments. Chilean banks prefer financing land with development potential rather than speculative purchases.

International lenders specializing in foreign national loans offer alternative financing at 7.14-7.64% interest rates with 25-40% down payments. These loans typically require global income verification and substantial asset portfolios. US and European banks occasionally provide portfolio loans for high-net-worth clients purchasing Patagonian land.

Financing terms generally favor shorter loan periods (10-15 years) for raw land compared to developed properties. Foreign buyers should establish banking relationships early in the process to improve financing prospects and streamline the purchase timeline.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Argentina versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

What are the most common mistakes and legal pitfalls foreigners make when buying land in Patagonia?

Foreign buyers consistently make predictable mistakes that can result in significant financial losses or legal complications.

Title oversights represent the most expensive mistake, with buyers failing to conduct thorough due diligence on existing liens, boundary disputes, or unclear ownership chains. Patagonian properties often have complex historical ownership involving indigenous claims, government expropriations, or family inheritance disputes that can surface years after purchase. Professional title searches and legal insurance become essential investments rather than optional expenses.

Climate underestimation causes ongoing problems when buyers fail to account for Patagonia's harsh weather impacts on infrastructure and property values. Winter temperatures, strong winds, and limited road access can make properties virtually unusable for months annually. Many foreign buyers purchase remote land without understanding seasonal accessibility limitations or infrastructure maintenance costs.

Legal assumption errors occur when buyers assume residency rights automatically accompany property ownership or that regulations remain consistent across provinces and regions. Argentina's complex federal-provincial jurisdictional splits can create conflicting requirements, while Chile's more centralized system still varies by region for specific property types.

Remote management failures happen when buyers purchase land without establishing reliable local oversight for maintenance, security, and regulatory compliance. Patagonian properties require ongoing attention for fence maintenance, fire prevention, and wildlife management that absentee owners often neglect until problems become expensive emergencies.

What do most foreigners actually use their land in Patagonia for—investment, residence, tourism, conservation, or other purposes?

Foreign land use patterns in Patagonia reflect diverse investment strategies and personal motivations, with conservation leading as the primary purpose.

1. **Conservation projects (40% of foreign buyers)**: Environmental preservation drives the largest segment, including reforestation, wildlife habitat restoration, and carbon credit generation. Wealthy individuals and organizations purchase large tracts for ecosystem protection, often exceeding 10,000 hectares per project.2. **Residential and vacation properties (30%)**: Foreign buyers develop primary or secondary residences, ranging from luxury estancias to eco-friendly retreats. This category includes retirement properties for North American and European buyers seeking lifestyle changes.3. **Tourism development (20%)**: Eco-tourism lodges, adventure tour facilities, and luxury hospitality projects attract investors capitalizing on Patagonia's growing tourism market. These projects often combine conservation with commercial operations.4. **Pure speculation (10%)**: Long-term investment holding for future appreciation, particularly in areas expected to benefit from infrastructure development or conservation premium values.

Usage patterns differ by nationality: Americans prefer conservation and tourism projects, Europeans focus on residential and lifestyle properties, while other Latin Americans typically pursue speculation or agricultural development. The trend toward conservation reflects both environmental consciousness and favorable tax treatment for conservation easements in both countries.

It's something we develop in our Argentina property pack.

What are the average land prices in different parts of Patagonia, and what is the long-term outlook for land values there?

Land prices vary dramatically across Patagonian regions, with Argentine properties commanding significant premiums over Chilean equivalents.

Argentine Patagonian land prices range from $15,000-$100,000 USD per acre, with lakefront properties in Bariloche commanding top premiums. El Calafate and glacier-access properties average $25,000-$50,000 per acre, while remote Santa Cruz ranches sell for $5,000-$15,000 per acre. Prime tourism corridor land along major routes can exceed $100,000 per acre for small parcels with development potential.

Chilean Patagonian land remains significantly cheaper at $1,000-$5,000 USD per acre for most regions, with Aysén averaging $2,000-$3,000 per acre and Magallanes slightly lower. Torres del Paine proximity adds premiums of 200-300%, while truly remote areas sell below $1,000 per acre. Chile's unrestricted ownership laws haven't yet driven prices to Argentine levels, creating arbitrage opportunities.

Long-term value outlook projects 3-7% annual appreciation through 2030, driven by tourism growth, infrastructure development, and global conservation demand. Climate change may increase Patagonian land values as northern regions become less habitable, while carbon credit markets could add value to forest properties. Limited supply and growing international demand support bullish long-term projections.

As we reach mid-2025, institutional investors are increasingly viewing Patagonian land as an inflation hedge and portfolio diversification asset, potentially accelerating price appreciation in prime locations while keeping remote areas affordable for individual buyers.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. TheLatinInvestor - Argentina Real Estate for Foreigners
2. WSC Legal - Buying Rural Land in Argentina
3. TheLatinInvestor - US Citizen Property Ownership in Argentina
4. LinkedIn - How Foreigners Can Buy Property in Argentina
5. Becker Abogados - How to Buy Land in Chile
6. LandVest - Chilean Patagonia Investment Reasons
7. Global Property Guide - Argentina Buying Guide
8. Baker McKenzie - Chile Real Estate Acquisition
9. TheLatinInvestor - Patagonia Argentina Property
10. TheLatinInvestor - Patagonia Real Estate Market