Thanks
@Surfer! We sold most of our real estate portfolio in 2018 and 2019 at the top of the market. We watched it steadily go down for almost 5 years and were waiting on the sidelines for when we believed that prices hit bottom. Most times it is impossible to get the absolute tops and the absolute bottoms but we looked at the prices of land and also the cost to build and we concluded that it was at the bottom or a month or two from the bottom. We did the same thing entering the USA real estate market in 2010 and 2011 at the bottom and exited out of the USA real estate market earlier this year.
We also forecasted that Javier Milei would easily win the election which is what happened. Under a Milei Presidency, we calculated that interest in Argentina would increase and foreign investments would increase. There are still many issues to solve with Argentina and the inflation has been painful for the locals, but it appears to be slowing down and hopefully by this time next year things will be much more stable.
Buenos Aires is one of the truly great world capital cities around the world. It will always be a desirable city. That should continue to be the case heading into the future. If the economy finally turns, real estate prices should skyrocket here.
Palermo Soho and Palermo Hollywood should also continue to experience great capital appreciation. All of Palermo is a very desirable area and property prices should perform well over during President Milei's term in office and most likely beyond.