More Foreigners Buying Vineyards in Mendoza
More North Americans and Europeans are discovering Mendoza's cost & quality of life advantages.
The number of foreign investors buying real estate in Mendoza continues to rise according to a new survey of buyers and brokers in Los Andes Online. Gabriela Balls says investors view Mendoza as a safe place to invest with regions like the Valle de Uco, Vistalba, Chacras de Coria and San Rafael as some of the most sought-after destinations in Argentina’s most prolific wine region.
In terms of who is doing the buying, Balls says our neighbors from Chile top the list followed by the French, Americans, Italians, Spaniards and Canadians. The economic slowdown in Europe has triggered a wave of Mendoza-bound migration from Spain and Italy, while similar malaise in our hemisphere is resulting in more North Americans investing in Argentina vineyard properties, raw land or second homes in Mendoza.
Balls spoke with one broker who listed New York, Los Angeles and Miami as three of the U.S. markets where the number of inquiries for investment opportunities in Mendoza have risen sharply in recent months with crisis-fleeing Europeans and real-toting Brazilians rounding out the Big 3. The author said every broker she consulted says foreign investors are drawn to casual living elements surrounding the vineyard lifestyle like fine dining, golf, tennis, hotels, Spas, polo and horseback riding.
External Link: Click here for full article.