Appendix A: Market Data

Two notes about the country data that follow: First, it's not easy to compile this kind of data reliably. Search for it on the Internet, and you'll find conflicting facts and figures in many cases. This is because information like this can be unreliable on the Internet. It's also because these particulars change all the time. As of this writing, Ireland is preparing to impose a property tax, although none has existed in this country for decades; Spain is imposing a temporary property “surcharge” that amounts to a property tax; and Panama's long-standing property tax exemption allowance has finally, after many renewals, lapsed. This leads to my second point, which is that the following information is correct as I write, based not on Internet research but my own personal experience and that of colleagues I trust. It may not, however, be complete or completely accurate when you proceed with a purchase in one of these countries. Use the following data, therefore, as a guide. These are the details that you should confirm with your local attorney in advance of signing any contract.

Argentina

Language: Spanish
Currency: Argentine peso
Form of Government: federal representative presidential republic
Inflation Rate: 22 percent (official; the actual rate is likely higher)
Foreign Investment Restrictions: Areas near national borders require approval from the government. Foreigners cannot own more than 1,000 hectares of rural land.
Real Estate Agent Fees: 3 to 4 percent ...

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